American National Bank Sells 9,440 Shares of NetApp, Inc. (NASDAQ:NTAP)

American National Bank lessened its stake in NetApp, Inc. (NASDAQ:NTAP – Get Rating) by 93.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 713 shares of the data storage provider’s stock after selling 9,440 shares during the period. American National Bank’s holdings in NetApp were worth $43,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Ten Capital Wealth Advisors LLC acquired a new position in NetApp during the 3rd quarter valued at about $27,000. Ronald Blue Trust Inc. boosted its stake in NetApp by 183.5% in the third quarter. Ronald Blue Trust Inc. now owns 550 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 356 shares during the last quarter. Gradient Investments LLC grew its holdings in NetApp by 57.3% during the 3rd quarter. Gradient Investments LLC now owns 629 shares of the data storage provider’s stock worth $39,000 after acquiring an additional 229 shares during the period. Ameliora Wealth Management Ltd. bought a new stake in shares of NetApp during the 3rd quarter valued at $73,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of NetApp by 28.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,173 shares of the data storage provider’s stock valued at $77,000 after purchasing an additional 261 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

NetApp Price Performance

Shares of NTAP opened at $61.47 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.29 and a debt-to-equity ratio of 2.17. The company’s fifty day simple moving average is $65.33 and its 200 day simple moving average is $66.08. NetApp, Inc. has a 1-year low of $58.08 and a 1-year high of $90.20. The company has a market cap of $13.15 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 1.65 and a beta of 1.19.

NetApp (NASDAQ:NTAP – Get Rating) last issued its earnings results on Wednesday, February 22nd. The data storage provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.06. NetApp had a net margin of 19.93% and a return on equity of 103.19%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the firm earned $1.20 EPS. NetApp’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, research analysts forecast that NetApp, Inc. will post 4.28 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Thursday, April 6th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Wednesday, April 5th. NetApp’s payout ratio is presently 34.42%.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 2,250 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $64.50, for a total value of $145,125.00. Following the transaction, the chief executive officer now directly owns 154,726 shares in the company, valued at $9,979,827. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, President Cesar Cernuda sold 18,000 shares of NetApp stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $60.09, for a total transaction of $1,081,620.00. Following the completion of the sale, the president now directly owns 44,829 shares of the company’s stock, valued at approximately $2,693,774.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO George Kurian sold 2,250 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $64.50, for a total value of $145,125.00. Following the completion of the transaction, the chief executive officer now directly owns 154,726 shares in the company, valued at $9,979,827. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,500 shares of company stock worth $1,951,740. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NTAP shares. Barclays dropped their price objective on NetApp from $71.00 to $67.00 and set an “equal weight” rating for the company in a report on Thursday, February 23rd. Susquehanna reduced their price objective on shares of NetApp from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, February 23rd. Cowen lowered their target price on shares of NetApp from $93.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, November 30th. JPMorgan Chase & Co. reduced their price target on shares of NetApp from $75.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, February 23rd. Finally, Loop Capital lowered their price objective on shares of NetApp from $67.00 to $65.00 and set a “hold” rating for the company in a research report on Monday, February 27th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NetApp presently has a consensus rating of “Hold” and a consensus price target of $76.25.

About NetApp

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NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Volumes ONTAP, NetApp Cloud Sync, NetApp Cloud Secure, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Kubernetes Service, and NetApp Cloud Insights.