Skba Capital Management LLC Has $8.72 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Skba Capital Management LLC reduced its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,130 shares of the data storage provider's stock after selling 3,400 shares during the quarter. Skba Capital Management LLC's holdings in NetApp were worth $8,721,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC grew its holdings in NetApp by 2.1% during the 3rd quarter. FMR LLC now owns 267,785 shares of the data storage provider's stock worth $33,074,000 after acquiring an additional 5,636 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of NetApp by 66.5% during the third quarter. Townsquare Capital LLC now owns 5,989 shares of the data storage provider's stock worth $740,000 after purchasing an additional 2,392 shares during the last quarter. Freedom Investment Management Inc. acquired a new position in NetApp in the third quarter worth about $205,000. Public Sector Pension Investment Board increased its holdings in NetApp by 12.7% in the third quarter. Public Sector Pension Investment Board now owns 8,897 shares of the data storage provider's stock valued at $1,099,000 after buying an additional 1,000 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in NetApp by 124.2% during the third quarter. Rockefeller Capital Management L.P. now owns 42,064 shares of the data storage provider's stock valued at $5,194,000 after buying an additional 23,305 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

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Wall Street Analyst Weigh In

NTAP has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on NetApp from $132.00 to $146.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. Citigroup lowered their target price on shares of NetApp from $135.00 to $110.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. dropped their target price on shares of NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Susquehanna lowered 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. Finally, Keefe, Bruyette & Woods upgraded shares of NetApp to an "outperform" rating in a research note on Wednesday, February 19th. 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 presently has an average rating of "Hold" and an average target price of $129.07.

NetApp Stock Performance

Shares of NTAP stock traded down $8.62 during mid-day trading on Thursday, reaching $81.87. The stock had a trading volume of 1,911,107 shares, compared to its average volume of 1,861,935. NetApp, Inc. has a one year low of $81.81 and a one year high of $135.45. The firm has a market cap of $16.65 billion, a PE ratio of 15.07, a P/E/G ratio of 2.45 and a beta of 1.31. The firm's 50 day simple moving average is $107.74 and its 200 day simple moving average is $116.68. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.54%. NetApp's dividend payout ratio is currently 38.52%.

Insider Activity

In related news, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $123.03, for a total value of $1,045,755.00. Following the completion of the transaction, the chief executive officer now owns 271,282 shares of the company's stock, valued at $33,375,824.46. This represents a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,627 shares of company stock worth $5,498,573. 0.47% of the stock is currently owned by corporate insiders.

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.