Bank of Montreal Can Sells 15,473 Shares of NetApp, Inc. (NASDAQ:NTAP)

Bank of Montreal Can cut its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 269,154 shares of the data storage provider's stock after selling 15,473 shares during the period. Bank of Montreal Can owned 0.13% of NetApp worth $31,243,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NTAP. Orion Portfolio Solutions LLC boosted its holdings in NetApp by 232.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider's stock valued at $831,000 after purchasing an additional 4,705 shares during the period. Nomura Asset Management Co. Ltd. grew its position in NetApp by 4.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 90,355 shares of the data storage provider's stock worth $11,160,000 after buying an additional 3,476 shares in the last quarter. Barclays PLC increased its stake in NetApp by 31.4% during the third quarter. Barclays PLC now owns 784,339 shares of the data storage provider's stock valued at $96,873,000 after acquiring an additional 187,638 shares during the period. M&T Bank Corp raised its holdings in NetApp by 1.9% in the 3rd quarter. M&T Bank Corp now owns 12,213 shares of the data storage provider's stock valued at $1,508,000 after acquiring an additional 226 shares in the last quarter. Finally, Vestcor Inc lifted its position in shares of NetApp by 6.5% in the 3rd quarter. Vestcor Inc now owns 15,488 shares of the data storage provider's stock worth $1,913,000 after acquiring an additional 949 shares during the period. Institutional investors and hedge funds own 92.17% of the company's stock.

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Analyst Ratings Changes

Several research analysts recently commented on NTAP shares. Loop Capital reduced their target price on NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Wells Fargo & Company lowered their target price on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on 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 NetApp from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Finally, StockNews.com downgraded shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $127.73.

NetApp Trading Down 1.2 %

NASDAQ:NTAP traded down $0.97 during mid-day trading on Tuesday, hitting $82.32. The company had a trading volume of 1,504,417 shares, compared to its average volume of 1,918,205. The firm has a market cap of $16.74 billion, a P/E ratio of 15.13, a P/E/G ratio of 2.45 and a beta of 1.31. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The business's fifty day moving average is $99.46 and its two-hundred day moving average is $113.85. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

NetApp Dividend Announcement

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 paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Friday, April 4th. NetApp's payout ratio is presently 38.52%.

Insiders Place Their Bets

In related news, CEO George Kurian sold 8,500 shares of the business's stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Cesar Cernuda sold 19,696 shares of the firm'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 owns 11,928 shares in the company, valued at $1,075,309.20. This trade represents a 62.28 % decrease in their ownership of the stock. 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. Company insiders own 0.47% of the company's stock.

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.