National Bank of Canada FI Has $21.93 Million Position in NetApp, Inc. (NASDAQ:NTAP)

National Bank of Canada FI trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 29.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 188,887 shares of the data storage provider's stock after selling 77,375 shares during the period. National Bank of Canada FI owned about 0.09% of NetApp worth $21,926,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NTAP. Norges Bank purchased a new position in shares of NetApp in the fourth quarter worth approximately $306,440,000. Boston Partners grew its position in NetApp by 53.9% during the 4th quarter. Boston Partners now owns 2,083,189 shares of the data storage provider's stock worth $241,867,000 after purchasing an additional 729,394 shares in the last quarter. KBC Group NV raised its stake in NetApp by 276.9% during the 4th quarter. KBC Group NV now owns 891,033 shares of the data storage provider's stock valued at $103,431,000 after purchasing an additional 654,626 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of NetApp in the fourth quarter valued at $64,683,000. Finally, Geode Capital Management LLC boosted its position in shares of NetApp by 8.2% in the third quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider's stock worth $738,280,000 after buying an additional 453,324 shares during the period. Institutional investors and hedge funds own 92.17% of the company's stock.

Insider Activity

In other NetApp news, Director Anders Gustafsson bought 2,800 shares of the stock in a transaction on Thursday, March 27th. The shares were purchased at an average price of $91.00 per share, with a total value of $254,800.00. Following the acquisition, the director now directly owns 6,348 shares of the company's stock, valued at $577,668. This represents a 78.92 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Cesar Cernuda sold 19,696 shares of the 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 sale, the president now directly owns 11,928 shares of the company's stock, valued at $1,075,309.20. This represents a 62.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,627 shares of company stock valued at $5,498,573. 0.47% of the stock is owned by insiders.

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NetApp Stock Performance

NetApp stock traded down $5.51 during trading hours on Friday, reaching $76.10. 3,381,917 shares of the company were exchanged, compared to its average volume of 1,873,957. NetApp, Inc. has a 12 month low of $74.83 and a 12 month high of $135.45. The firm has a market cap of $15.48 billion, a price-to-earnings ratio of 13.99, a PEG 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 stock has a 50-day moving average of $105.85 and a 200 day moving average of $116.14.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Friday, April 4th. NetApp's dividend payout ratio is 38.52%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NTAP. Morgan Stanley raised their price objective on NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. decreased their price target on shares of NetApp from $160.00 to $153.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Susquehanna lowered shares of NetApp from a "positive" rating to a "neutral" rating and dropped their price objective for the company from $155.00 to $130.00 in a research note on Monday, February 10th. StockNews.com lowered shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods raised shares of NetApp to an "outperform" rating in a research note on Wednesday, February 19th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $129.07.

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.