O Shaughnessy Asset Management LLC Sells 4,113 Shares of NetApp, Inc. (NASDAQ:NTAP)

O Shaughnessy Asset Management LLC lessened its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 148,815 shares of the data storage provider's stock after selling 4,113 shares during the quarter. O Shaughnessy Asset Management LLC owned about 0.07% of NetApp worth $17,274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in NetApp in the fourth quarter worth about $306,440,000. Boston Partners raised its position in shares of 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 buying an additional 729,394 shares in the last quarter. KBC Group NV lifted its stake in shares of NetApp by 276.9% in the 4th quarter. KBC Group NV now owns 891,033 shares of the data storage provider's stock worth $103,431,000 after acquiring an additional 654,626 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of NetApp in the 4th quarter worth approximately $64,683,000. Finally, Geode Capital Management LLC boosted its holdings 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 valued at $738,280,000 after acquiring an additional 453,324 shares in the last quarter. Institutional investors own 92.17% of the company's stock.

NetApp Stock Down 9.5 %

Shares of NTAP stock traded down $8.62 on Thursday, reaching $81.87. 1,911,107 shares of the company's stock traded hands, compared to its average volume of 1,861,935. The company has a market capitalization of $16.65 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. NetApp, Inc. has a 12-month low of $81.81 and a 12-month high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The business's 50 day moving average price is $107.74 and its two-hundred day moving average price is $116.68.

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NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be issued a $0.52 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.54%. NetApp's dividend payout ratio is 38.52%.

Insider Activity

In other news, CFO Michael J. Berry sold 12,500 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the transaction, the chief financial officer now directly owns 123,243 shares in the company, valued at $14,880,359.82. The trade was a 9.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Cesar Cernuda sold 19,696 shares of the stock in a transaction on 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 sale, the president now owns 11,928 shares of the company's stock, valued at approximately $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. Insiders have sold 50,627 shares of company stock worth $5,498,573 in the last 90 days. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com cut NetApp from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Wells Fargo & Company cut their price objective on NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Loop Capital cut their price target on shares of NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Finally, TD Cowen lowered their price objective on shares of NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, NetApp has a consensus rating of "Hold" and an average 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.