Thrivent Financial for Lutherans Has $10.03 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Thrivent Financial for Lutherans lowered its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,111 shares of the data storage provider's stock after selling 6,706 shares during the period. Thrivent Financial for Lutherans' holdings in NetApp were worth $10,032,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NTAP. Resonant Capital Advisors LLC grew its stake in NetApp by 1.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock valued at $516,000 after purchasing an additional 80 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of NetApp by 2.5% in the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after buying an additional 92 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in NetApp by 22.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock worth $64,000 after buying an additional 100 shares during the last quarter. Moors & Cabot Inc. increased its holdings in NetApp by 3.6% in the fourth quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock worth $337,000 after buying an additional 100 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in NetApp by 2.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock valued at $534,000 after acquiring an additional 111 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

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NetApp Price Performance

NASDAQ:NTAP traded down $1.64 during trading hours on Wednesday, reaching $92.75. The company had a trading volume of 1,900,319 shares, compared to its average volume of 1,751,880. The firm has a market capitalization of $18.87 billion, a PE ratio of 17.05, a PEG ratio of 2.45 and a beta of 1.24. The stock has a 50-day moving average of $111.60 and a two-hundred day moving average of $117.77. NetApp, Inc. has a one year low of $89.88 and a one year high of $135.45. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, April 4th. NetApp's dividend payout ratio (DPR) is currently 38.52%.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O'callahan sold 451 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $116.79, for a total transaction of $52,672.29. Following the completion of the sale, the executive vice president now directly owns 12,005 shares of the company's stock, valued at $1,402,063.95. This trade represents a 3.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction on Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares of the company's stock, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,931 shares of company stock valued at $6,252,759 in the last ninety days. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on NTAP shares. Wells Fargo & Company decreased their target price on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Barclays decreased their target price on NetApp from $132.00 to $115.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Susquehanna cut shares of NetApp from a "positive" rating to a "neutral" rating and decreased their price target for the company from $155.00 to $130.00 in a report on Monday, February 10th. Loop Capital lowered their price target on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. cut their price objective on NetApp from $160.00 to $153.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Twelve equities 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, the company presently has an average rating of "Hold" and an average target price of $129.07.

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.