Wells Fargo & Company MN Purchases 17,155 Shares of NetApp, Inc. (NASDAQ:NTAP)

Wells Fargo & Company MN lifted its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,935 shares of the data storage provider's stock after purchasing an additional 17,155 shares during the quarter. Wells Fargo & Company MN owned 0.11% of NetApp worth $26,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Thoroughbred Financial Services LLC boosted its stake in shares of NetApp by 17.9% in the 4th quarter. Thoroughbred Financial Services LLC now owns 4,873 shares of the data storage provider's stock worth $565,000 after buying an additional 741 shares during the last quarter. Pitcairn Co. grew its stake in shares of NetApp by 2.9% during the 4th quarter. Pitcairn Co. now owns 13,256 shares of the data storage provider's stock valued at $1,539,000 after purchasing an additional 368 shares during the period. World Investment Advisors increased its position in shares of NetApp by 62.2% during the 4th quarter. World Investment Advisors now owns 12,976 shares of the data storage provider's stock valued at $1,506,000 after purchasing an additional 4,978 shares during the last quarter. Westpac Banking Corp lifted its stake in shares of NetApp by 11.8% in the 4th quarter. Westpac Banking Corp now owns 37,904 shares of the data storage provider's stock worth $4,400,000 after purchasing an additional 4,003 shares during the period. Finally, OV Management LLC boosted its holdings in shares of NetApp by 7.0% in the fourth quarter. OV Management LLC now owns 13,012 shares of the data storage provider's stock worth $1,510,000 after buying an additional 851 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

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NetApp Trading Down 1.3 %

NTAP traded down $1.10 during trading on Tuesday, reaching $82.18. The company had a trading volume of 2,539,776 shares, compared to its average volume of 1,921,841. 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, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The stock has a market cap of $16.72 billion, a P/E ratio of 15.11, a PEG ratio of 2.45 and a beta of 1.31. The business has a 50 day simple moving average of $99.46 and a 200-day simple moving average of $113.85.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.53%. NetApp's payout ratio is 38.52%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NTAP shares. Morgan Stanley lifted their price target on shares of NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Barclays reduced their price target on NetApp from $132.00 to $115.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. StockNews.com lowered shares of NetApp from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, TD Cowen dropped their price target on shares of NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $127.73.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O'callahan sold 452 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the sale, the executive vice president now owns 11,553 shares in the company, valued at $1,395,024.75. This trade represents a 3.77 % 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, President Cesar Cernuda sold 19,696 shares of the business's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the sale, the president now directly owns 11,928 shares of the company's stock, valued at $1,075,309.20. This represents a 62.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,176 shares of company stock valued at $5,445,901 in the last ninety days. 0.47% of the stock is owned by company 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.