Massachusetts Financial Services Co. MA Has $2.49 Million Stake in NetApp, Inc. (NASDAQ:NTAP)

Massachusetts Financial Services Co. MA lessened its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 40.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,458 shares of the data storage provider's stock after selling 14,782 shares during the period. Massachusetts Financial Services Co. MA's holdings in NetApp were worth $2,491,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. OV Management LLC raised its holdings in shares of NetApp by 7.0% during the fourth quarter. OV Management LLC now owns 13,012 shares of the data storage provider's stock valued at $1,510,000 after buying an additional 851 shares during the last quarter. Franklin Resources Inc. raised its stake in NetApp by 8.0% during the 4th quarter. Franklin Resources Inc. now owns 468,136 shares of the data storage provider's stock valued at $54,341,000 after acquiring an additional 34,520 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its position in NetApp by 28.9% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 27,335 shares of the data storage provider's stock worth $3,173,000 after acquiring an additional 6,135 shares during the period. Alliancebernstein L.P. grew its stake in shares of NetApp by 11.3% in the fourth quarter. Alliancebernstein L.P. now owns 603,876 shares of the data storage provider's stock worth $70,098,000 after purchasing an additional 61,430 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. raised its stake in shares of NetApp by 202.6% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 2,657 shares of the data storage provider's stock valued at $308,000 after purchasing an additional 1,779 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

NTAP has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised shares of NetApp to an "outperform" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their target price on NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company decreased their price target on NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Barclays cut their price objective on NetApp from $132.00 to $115.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Finally, Wedbush reiterated a "neutral" rating and issued a $110.00 price target (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $129.07.

Insider Activity

In other NetApp news, President Cesar Cernuda sold 19,696 shares of the business's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $90.15, for a total value of $1,775,594.40. Following the transaction, the president now owns 11,928 shares in the company, valued at $1,075,309.20. The trade was a 62.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 271,282 shares in the company, valued at approximately $33,375,824.46. The trade was a 3.04 % 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 worth $5,445,901 in the last ninety days. Corporate insiders own 0.47% of the company's stock.

NetApp Stock Up 0.9 %

Shares of NTAP traded up $0.78 during trading hours on Monday, reaching $83.42. The company's stock had a trading volume of 143,929 shares, compared to its average volume of 1,910,912. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 2.45 and a beta of 1.31. The company has a 50 day moving average of $100.27 and a two-hundred day moving average of $114.11. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Friday, April 4th. NetApp's dividend payout ratio (DPR) 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.