NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Tredje AP fonden

Tredje AP fonden trimmed its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 50.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,276 shares of the data storage provider's stock after selling 16,275 shares during the quarter. Tredje AP fonden's holdings in NetApp were worth $1,889,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vestcor Inc increased its holdings in shares of NetApp by 8.2% in the fourth quarter. Vestcor Inc now owns 16,759 shares of the data storage provider's stock worth $1,945,000 after purchasing an additional 1,271 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of NetApp by 44.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 475,860 shares of the data storage provider's stock worth $55,238,000 after purchasing an additional 147,294 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of NetApp by 14.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,482 shares of the data storage provider's stock worth $404,000 after purchasing an additional 447 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of NetApp by 18.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the data storage provider's stock worth $191,000 after purchasing an additional 255 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of NetApp by 75.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,697 shares of the data storage provider's stock worth $661,000 after purchasing an additional 2,442 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NTAP. Northland Securities boosted their price objective on NetApp from $108.00 to $120.00 and gave the stock a "market perform" rating in a research note on Friday, November 22nd. Citigroup reduced their price objective on NetApp from $135.00 to $110.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Stifel Nicolaus boosted their price objective on NetApp from $140.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. StockNews.com lowered NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Morgan Stanley boosted their target price on NetApp from $132.00 to $146.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $129.07.

NetApp Trading Up 1.4 %

Shares of NASDAQ NTAP traded up $1.27 during trading hours on Wednesday, reaching $93.53. The stock had a trading volume of 2,075,605 shares, compared to its average volume of 1,911,204. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The firm has a market cap of $19.03 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 2.45 and a beta of 1.24. The business's fifty day moving average price is $113.94 and its two-hundred day moving average price is $118.63. NetApp, Inc. has a 52-week low of $89.88 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. Shareholders of record on Friday, April 4th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.22%. NetApp's dividend payout ratio is currently 38.52%.

Insiders Place Their Bets

In other NetApp news, President Cesar Cernuda sold 22,000 shares of the company's stock in a transaction on 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 completion of the sale, the president now owns 27,099 shares in the company, valued at $3,116,114.01. This represents a 44.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth M. O'callahan sold 528 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $92.58, for a total value of $48,882.24. Following the transaction, the executive vice president now directly owns 12,900 shares in the company, valued at approximately $1,194,282. The trade was a 3.93 % 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 90 days. Company insiders own 0.47% of the company's stock.

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.