NetApp, Inc. (NASDAQ:NTAP) Holdings Reduced by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. decreased its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 57.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,977 shares of the data storage provider's stock after selling 8,159 shares during the period. Landscape Capital Management L.L.C.'s holdings in NetApp were worth $694,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of NetApp in the fourth quarter valued at $26,000. Assetmark Inc. raised its holdings in shares of NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after acquiring an additional 215 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in shares of NetApp in the fourth quarter valued at $32,000. Golden State Wealth Management LLC acquired a new stake in shares of NetApp during the fourth quarter valued at $35,000. Finally, OFI Invest Asset Management purchased a new stake in NetApp during the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

Insider Buying and Selling at NetApp

In other news, CFO Michael J. Berry sold 12,500 shares of NetApp stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total value of $1,509,250.00. Following the completion of the transaction, the chief financial officer now directly owns 123,243 shares of the company's stock, valued at approximately $14,880,359.82. The trade was a 9.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 19,696 shares of NetApp stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $90.15, for a total value of $1,775,594.40. Following the completion of the transaction, the president now owns 11,928 shares of the company's stock, valued at approximately $1,075,309.20. The trade was a 62.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,176 shares of company stock valued at $5,445,901 in the last three months. Corporate insiders own 0.47% of the company's stock.

NetApp Stock Up 0.4 %

NetApp stock traded up $0.36 during midday trading on Friday, hitting $82.64. 2,738,498 shares of the stock were exchanged, compared to its average volume of 1,914,734. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The firm has a market cap of $16.81 billion, a P/E ratio of 15.19, a P/E/G ratio of 2.45 and a beta of 1.31. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The company has a 50 day moving average price of $100.27 and a two-hundred day moving average price of $114.19.

NetApp Dividend Announcement

The firm 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 dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.52%. NetApp's dividend payout ratio is presently 38.52%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NTAP shares. TD Cowen decreased their target price on shares of NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a research report 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 on the stock in a research report on Friday, February 28th. Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. Finally, Wedbush reaffirmed a "neutral" rating and set a $110.00 price objective (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $129.07.

NetApp Company 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.