Ossiam Sells 5,314 Shares of NetApp, Inc. (NASDAQ:NTAP)

Ossiam decreased its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 38.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,615 shares of the data storage provider's stock after selling 5,314 shares during the period. Ossiam's holdings in NetApp were worth $1,000,000 at the end of the most recent quarter.

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

Insider Activity

In other NetApp news, CFO Michael J. Berry sold 12,500 shares of the company's 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 transaction, the chief financial officer now owns 123,243 shares in the company, valued at approximately $14,880,359.82. This represents a 9.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total value of $1,011,840.00. Following the sale, the chief executive officer now directly owns 266,765 shares of the company's stock, valued at approximately $31,755,705.60. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,176 shares of company stock worth $5,095,701 over the last 90 days. 0.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NTAP has been the topic of several research analyst reports. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Wells Fargo & Company cut their target price on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. StockNews.com downgraded shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. decreased their target price on NetApp from $153.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Citigroup reduced their price target on NetApp from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $125.07.

NetApp Price Performance

NTAP traded up $0.28 during trading on Friday, reaching $88.45. The stock had a trading volume of 1,699,069 shares, compared to its average volume of 1,928,325. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The firm has a market capitalization of $17.99 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. The stock has a 50 day moving average of $93.51 and a two-hundred day moving average of $111.78. 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 business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.35%. NetApp's dividend payout ratio (DPR) is 38.52%.

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.