NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lowered its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 156,724 shares of the data storage provider's stock after selling 5,509 shares during the quarter. Martingale Asset Management L P owned approximately 0.08% of NetApp worth $18,193,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of NetApp in the fourth quarter valued at approximately $26,000. Assetmark Inc. grew its stake in NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after acquiring an additional 215 shares during the period. Synergy Investment Management LLC acquired a new position in NetApp in the 4th quarter valued at $32,000. Golden State Wealth Management LLC purchased a new position in shares of NetApp during the 4th quarter worth $35,000. Finally, OFI Invest Asset Management acquired a new stake in shares of NetApp during the fourth quarter worth $39,000. Institutional investors and hedge funds own 92.17% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Morgan Stanley raised their price target on NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Bank of America upgraded shares of NetApp from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. StockNews.com downgraded shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Barclays dropped 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, JPMorgan Chase & Co. decreased their target price on NetApp from $160.00 to $153.00 and set an "overweight" rating for the company in a report 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $129.07.

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Insider Activity at NetApp

In other news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Tuesday, January 21st. The shares were 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 of the company's stock, valued at approximately $33,375,824.46. The trade was a 3.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 452 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $120.75, for a total transaction of $54,579.00. Following the sale, the executive vice president now owns 11,553 shares in the company, valued at approximately $1,395,024.75. This trade represents a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,176 shares of company stock valued at $5,445,901 over the last three months. 0.47% of the stock is owned by insiders.

NetApp Stock Up 0.2 %

NTAP traded up $0.20 during trading on Monday, hitting $82.84. The company had a trading volume of 673,709 shares, compared to its average volume of 1,912,257. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The company has a market cap of $16.85 billion, a PE ratio of 15.23, a P/E/G ratio of 2.45 and a beta of 1.31. The business has a 50-day moving average of $100.27 and a 200-day moving average of $114.11.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be paid a $0.52 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.51%. NetApp's dividend payout ratio (DPR) is 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.