NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 78.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,758 shares of the data storage provider's stock after selling 34,766 shares during the period. Guggenheim Capital LLC's holdings in NetApp were worth $1,133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Resonant Capital Advisors LLC lifted its position in NetApp by 1.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock worth $516,000 after acquiring an additional 80 shares during the period. Larson Financial Group LLC grew its position in NetApp by 2.5% in the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after buying an additional 92 shares during the last quarter. Geneos Wealth Management Inc. raised its position in NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock worth $64,000 after buying an additional 100 shares during the last quarter. Moors & Cabot Inc. raised its position in NetApp by 3.6% during the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock worth $337,000 after buying an additional 100 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of NetApp by 2.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock worth $534,000 after acquiring an additional 111 shares during the period. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Trading Up 0.3 %

Shares of NTAP stock traded up $0.28 during trading hours on Friday, hitting $88.45. 1,699,069 shares of the company were exchanged, compared to its average volume of 1,929,712. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The firm has a fifty day moving average of $92.87 and a 200 day moving average of $111.52. The firm has a market cap of $17.99 billion, a PE ratio of 16.26, a PEG ratio of 2.45 and a beta of 1.31. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.35%. NetApp's payout ratio is 38.52%.

Insider Buying and Selling

In other news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $81.83, for a total value of $695,555.00. Following the transaction, the chief executive officer now directly owns 249,765 shares of the company's stock, valued at $20,438,269.95. The trade was a 3.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Elizabeth M. O'callahan sold 452 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $120.75, for a total transaction of $54,579.00. Following the sale, the executive vice president now directly owns 11,553 shares of the company's stock, valued at approximately $1,395,024.75. This trade represents a 3.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,176 shares of company stock valued at $5,095,701. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on NTAP. Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Keefe, Bruyette & Woods upgraded NetApp to an "outperform" rating in a research note on Wednesday, February 19th. Wells Fargo & Company reduced their target price on NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. TD Cowen cut their price target on shares of NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $125.07.

NetApp Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.