Rockefeller Capital Management L.P. Has $2.16 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Rockefeller Capital Management L.P. reduced its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 55.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,566 shares of the data storage provider's stock after selling 23,498 shares during the period. Rockefeller Capital Management L.P.'s holdings in NetApp were worth $2,155,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in NetApp during the 4th quarter worth about $26,000. Assetmark Inc. raised its position 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 purchasing an additional 215 shares during the last quarter. Synergy Investment Management LLC bought a new position in NetApp in the 4th quarter valued at $32,000. Golden State Wealth Management LLC acquired a new stake in shares of NetApp in the 4th quarter valued at $35,000. Finally, OFI Invest Asset Management acquired a new position in shares of NetApp during the fourth quarter valued at $39,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the sale, the chief executive officer now directly owns 249,765 shares in the company, valued at approximately $20,438,269.95. The trade was a 3.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Cesar Cernuda sold 19,696 shares of the stock in a transaction dated 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 transaction, 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 sold a total of 50,176 shares of company stock valued at $5,095,701 in the last quarter. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NTAP shares. JPMorgan Chase & Co. reduced their target price on shares of NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Loop Capital cut their price target on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. StockNews.com downgraded NetApp from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Barclays reduced their target price on NetApp from $132.00 to $115.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Finally, Susquehanna downgraded shares of NetApp from a "positive" rating to a "neutral" rating and cut their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $125.07.

NetApp Stock Up 4.0 %

Shares of NTAP traded up $3.37 during midday trading on Thursday, hitting $88.25. The stock had a trading volume of 1,290,384 shares, compared to its average volume of 1,926,702. The firm has a market cap of $17.95 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. The company has a 50 day simple moving average of $94.13 and a two-hundred day simple moving average of $112.03. NetApp, Inc. has a twelve month low of $71.84 and a twelve month 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.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.36%. The ex-dividend date was Friday, April 4th. NetApp's payout ratio 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.