Sei Investments Co. Decreases Stake in NetApp, Inc. (NASDAQ:NTAP)

Sei Investments Co. lessened its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 21.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 341,613 shares of the data storage provider's stock after selling 92,711 shares during the quarter. Sei Investments Co. owned 0.17% of NetApp worth $39,654,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of NetApp by 204.1% in the fourth quarter. American Century Companies Inc. now owns 197,240 shares of the data storage provider's stock valued at $22,896,000 after purchasing an additional 132,370 shares in the last quarter. Mizuho Securities USA LLC raised its position in NetApp by 45.6% in the 4th quarter. Mizuho Securities USA LLC now owns 19,409 shares of the data storage provider's stock valued at $2,253,000 after buying an additional 6,079 shares during the last quarter. Quantbot Technologies LP bought a new position in NetApp during the 4th quarter valued at $711,000. Millstone Evans Group LLC bought a new stake in shares of NetApp in the 4th quarter worth $59,000. Finally, TD Private Client Wealth LLC raised its holdings in shares of NetApp by 8.5% in the fourth quarter. TD Private Client Wealth LLC now owns 3,013 shares of the data storage provider's stock valued at $350,000 after purchasing an additional 235 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays cut their price target on shares of NetApp from $132.00 to $115.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company reduced their target price on NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Citigroup dropped their price target on NetApp from $135.00 to $110.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Susquehanna downgraded NetApp from a "positive" rating to a "neutral" rating and reduced their price objective for the company from $155.00 to $130.00 in a research note on Monday, February 10th. Finally, Loop Capital lowered their target price on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. 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, NetApp currently has a consensus rating of "Hold" and an average target price of $129.07.

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Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O'callahan sold 451 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $116.79, for a total value of $52,672.29. Following the completion of the sale, the executive vice president now owns 12,005 shares in the company, valued at $1,402,063.95. The trade was a 3.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,931 shares of company stock worth $6,252,759 over the last three months. 0.47% of the stock is owned by insiders.

NetApp Price Performance

NetApp stock traded down $2.69 during midday trading on Friday, hitting $88.40. 2,662,211 shares of the company's stock were exchanged, compared to its average volume of 1,848,947. The company has a market cap of $17.98 billion, a P/E ratio of 16.25, a PEG ratio of 2.45 and a beta of 1.24. 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 stock has a 50-day moving average price of $110.49 and a two-hundred day moving average price of $117.41. NetApp, Inc. has a 52-week low of $87.70 and a 52-week high of $135.45.

NetApp Dividend Announcement

The business also recently announced 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. This represents a $2.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Friday, April 4th. NetApp's dividend payout ratio is currently 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.