NetApp, Inc. (NASDAQ:NTAP) Holdings Cut by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC decreased its stake in NetApp, Inc. (NASDAQ:NTAP) by 12.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 948 shares of the data storage provider’s stock after selling 130 shares during the quarter. Smartleaf Asset Management LLC’s holdings in NetApp were worth $110,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTAP. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in NetApp in the 4th quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new position in shares of NetApp during the 4th quarter worth $35,000. True Wealth Design LLC increased its stake in shares of NetApp by 2,833.3% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 340 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of NetApp during the 3rd quarter worth $44,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of NetApp during the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on NTAP. Wedbush restated a “neutral” rating and set a $110.00 price target (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. Loop Capital dropped their price target on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday. StockNews.com lowered shares of NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Stifel Nicolaus raised their target price on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $129.07.

Insider Buying and Selling at NetApp

In other news, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now directly owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This trade represents a 44.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 451 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was 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 of the company’s stock, valued at $1,402,063.95. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,903 shares of company stock valued at $7,260,341 in the last ninety days. Company insiders own 0.47% of the company’s stock.

NetApp Price Performance

Shares of NetApp stock opened at $93.77 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp, Inc. has a fifty-two week low of $91.16 and a fifty-two week high of $135.45. The firm has a fifty day moving average price of $117.43 and a two-hundred day moving average price of $120.63. The company has a market cap of $19.07 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

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.