LSV Asset Management Sells 10,800 Shares of NetApp, Inc. (NASDAQ:NTAP)

LSV Asset Management cut its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 575,463 shares of the data storage provider's stock after selling 10,800 shares during the period. LSV Asset Management owned 0.28% of NetApp worth $66,800,000 at the end of the most recent reporting period.

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

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Analyst Ratings Changes

A number of research analysts recently issued reports on the company. TD Cowen reduced their price objective on NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Wells Fargo & Company cut 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. Susquehanna downgraded NetApp from a "positive" rating to a "neutral" rating and lowered their price target for the company from $155.00 to $130.00 in a report on Monday, February 10th. Wedbush reaffirmed a "neutral" rating and issued a $110.00 price target (down from $120.00) on shares of NetApp in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods upgraded shares of NetApp to an "outperform" rating in a research note on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $127.73.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O'callahan sold 452 shares of NetApp stock in a transaction on Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the completion of the transaction, the executive vice president now directly owns 11,553 shares of the company's stock, valued at $1,395,024.75. The trade was a 3.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Cesar Cernuda sold 19,696 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the sale, the president now directly owns 11,928 shares of the company's stock, valued at approximately $1,075,309.20. This trade represents a 62.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,176 shares of company stock worth $5,445,901. Insiders own 0.47% of the company's stock.

NetApp Trading Down 1.3 %

Shares of NASDAQ:NTAP traded down $1.10 during mid-day trading on Tuesday, reaching $82.18. The stock had a trading volume of 2,539,676 shares, compared to its average volume of 1,921,839. The firm has a market cap of $16.72 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. 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 firm has a 50 day simple moving average of $99.46 and a two-hundred day simple moving average of $113.85. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Friday, April 4th. NetApp's dividend 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.