NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Distillate Capital Partners LLC

Distillate Capital Partners LLC raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 143,163 shares of the data storage provider's stock after acquiring an additional 3,867 shares during the period. Distillate Capital Partners LLC owned approximately 0.07% of NetApp worth $16,618,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of NetApp during the 4th quarter worth approximately $306,440,000. Boston Partners grew its position in NetApp by 53.9% during the fourth quarter. Boston Partners now owns 2,083,189 shares of the data storage provider's stock valued at $241,867,000 after buying an additional 729,394 shares during the period. KBC Group NV increased its holdings in NetApp by 276.9% in the fourth quarter. KBC Group NV now owns 891,033 shares of the data storage provider's stock valued at $103,431,000 after buying an additional 654,626 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of NetApp in the fourth quarter worth about $64,683,000. Finally, Invesco Ltd. boosted its stake in shares of NetApp by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider's stock worth $362,544,000 after acquiring an additional 529,471 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Price Performance

Shares of NetApp stock traded up $0.64 on Tuesday, hitting $83.92. 95,875 shares of the company were exchanged, compared to its average volume of 1,912,319. 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 company has a 50-day moving average price of $99.46 and a 200 day moving average price of $113.85. The stock has a market capitalization of $17.07 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45.

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NetApp Dividend Announcement

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 issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.48%. The ex-dividend date is Friday, April 4th. NetApp's payout ratio is currently 38.52%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NTAP shares. Wells Fargo & Company cut 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. Keefe, Bruyette & Woods upgraded NetApp to an "outperform" rating in a research report on Wednesday, February 19th. Citigroup decreased their target price on NetApp from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday. JPMorgan Chase & Co. cut 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. Finally, Susquehanna downgraded shares of NetApp from a "positive" rating to a "neutral" rating and decreased their price objective for the company from $155.00 to $130.00 in a report on Monday, February 10th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, NetApp presently has an average rating of "Hold" and an average target price of $127.73.

Insiders Place Their Bets

In other news, CFO Michael J. Berry sold 12,500 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 123,243 shares of the company's stock, valued at $14,880,359.82. This represents a 9.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the firm'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 transaction of $1,045,755.00. Following the sale, the chief executive officer now owns 271,282 shares of the company's stock, valued at $33,375,824.46. This represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,176 shares of company stock valued at $5,445,901 in the last three months. 0.47% of the stock is currently owned by insiders.

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.