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

Hilton Capital Management LLC lessened its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 10.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,581 shares of the data storage provider's stock after selling 3,286 shares during the quarter. Hilton Capital Management LLC's holdings in NetApp were worth $3,434,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. M&T Bank Corp increased its holdings in NetApp by 4.8% in the 4th quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider's stock worth $1,485,000 after buying an additional 581 shares during the period. Versor Investments LP acquired a new position in NetApp in the 4th quarter worth approximately $395,000. Intech Investment Management LLC grew its stake in shares of NetApp by 8.9% during the 3rd quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider's stock worth $37,301,000 after purchasing an additional 24,651 shares during the period. AMJ Financial Wealth Management grew its stake in shares of NetApp by 120.7% during the 4th quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider's stock worth $7,998,000 after purchasing an additional 37,684 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of NetApp by 20.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider's stock worth $5,225,000 after purchasing an additional 7,318 shares during the period. Institutional investors and hedge funds own 92.17% of the company's stock.

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Insider Buying and Selling at NetApp

In other NetApp news, President Cesar Cernuda sold 22,000 shares of the firm's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the sale, the president now directly owns 27,099 shares of the company's stock, valued at $3,116,114.01. This trade represents a 44.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $123.03, for a total value of $1,045,755.00. Following the completion of the sale, the chief executive officer now directly owns 271,282 shares of the company's stock, valued at $33,375,824.46. This trade represents a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,931 shares of company stock worth $6,252,759. Corporate insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. Citigroup dropped their price objective on shares of NetApp from $135.00 to $110.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Susquehanna cut shares of NetApp from a "positive" rating to a "neutral" rating and dropped their price objective for the stock from $155.00 to $130.00 in a research note on Monday, February 10th. Finally, Barclays dropped their price objective on shares of NetApp from $132.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Twelve 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.com, the company has a consensus rating of "Hold" and an average target price of $129.07.

NetApp Price Performance

NTAP stock traded down $1.02 during midday trading on Tuesday, reaching $92.26. The stock had a trading volume of 2,552,908 shares, compared to its average volume of 1,725,033. The company's fifty day simple moving average is $114.43 and its 200 day simple moving average is $118.83. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The company has a market cap of $18.77 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 52-week low of $89.88 and a 52-week high of $135.45.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.25%. NetApp's payout ratio is currently 38.52%.

About NetApp

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.