NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Swiss National Bank

Swiss National Bank decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 578,500 shares of the data storage provider's stock after selling 32,400 shares during the quarter. Swiss National Bank owned about 0.28% of NetApp worth $67,152,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NTAP. KBC Group NV raised its stake in NetApp by 276.9% during the fourth quarter. KBC Group NV now owns 891,033 shares of the data storage provider's stock valued at $103,431,000 after purchasing an additional 654,626 shares in the last quarter. Raymond James Financial Inc. bought a new position in NetApp during the fourth quarter valued at $64,683,000. Geode Capital Management LLC increased its position in NetApp by 8.2% during the third quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider's stock valued at $738,280,000 after acquiring an additional 453,324 shares during the last quarter. Amundi increased its position in NetApp by 25.7% during the fourth quarter. Amundi now owns 1,948,917 shares of the data storage provider's stock valued at $228,492,000 after acquiring an additional 397,871 shares during the last quarter. Finally, Unigestion Holding SA increased its position in NetApp by 926.1% during the third quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider's stock valued at $35,022,000 after acquiring an additional 256,028 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

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NetApp Price Performance

NetApp stock traded up $1.27 during midday trading on Wednesday, reaching $93.53. The company had a trading volume of 2,075,435 shares, compared to its average volume of 1,726,989. NetApp, Inc. has a 12-month low of $89.88 and a 12-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. The firm's fifty day simple moving average is $113.94 and its 200-day simple moving average is $118.63. The company has a market capitalization of $19.03 billion, a P/E ratio of 17.19, a P/E/G ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

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 $0.52 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.22%. NetApp's dividend payout ratio (DPR) is 38.52%.

Insider Activity at NetApp

In other news, EVP Elizabeth M. O'callahan sold 451 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the transaction, the executive vice president now directly owns 12,005 shares in the company, valued at $1,402,063.95. The trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Cesar Cernuda sold 22,000 shares of the business's stock in a transaction dated Monday, December 30th. The stock was 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 approximately $3,116,114.01. This trade represents 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 valued at $6,252,759 over the last ninety days. Insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of NetApp from $140.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Loop Capital dropped their target price on shares of NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Wells Fargo & Company dropped their target price on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods upgraded shares of NetApp to an "outperform" rating in a report on Wednesday, February 19th. Finally, Bank of America upgraded shares of NetApp from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $129.07.

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.