Horizon Investment Services LLC Has $3.05 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Horizon Investment Services LLC lessened its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 6.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 26,245 shares of the data storage provider’s stock after selling 1,738 shares during the quarter. NetApp comprises about 1.3% of Horizon Investment Services LLC’s portfolio, making the stock its 26th largest holding. Horizon Investment Services LLC’s holdings in NetApp were worth $3,047,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NTAP. M&T Bank Corp lifted its position in NetApp by 4.8% during the fourth quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock worth $1,485,000 after acquiring an additional 581 shares during the last quarter. Versor Investments LP acquired a new stake in NetApp during the 4th quarter worth approximately $395,000. AMJ Financial Wealth Management lifted its holdings in NetApp by 120.7% during the 4th quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider’s stock worth $7,998,000 after purchasing an additional 37,684 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in NetApp by 9.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock valued at $156,268,000 after purchasing an additional 113,360 shares during the period. Finally, Orion Portfolio Solutions LLC grew its holdings in NetApp by 232.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider’s stock valued at $831,000 after buying an additional 4,705 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

NTAP stock opened at $88.40 on Friday. The stock has a market cap of $17.98 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 2.45 and a beta of 1.24. 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 company has a 50 day simple moving average of $109.82 and a 200 day simple moving average of $117.23. NetApp, Inc. has a 1 year low of $88.14 and a 1 year high of $135.45.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders 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 annualized dividend and a dividend yield of 2.35%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 528 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 12,900 shares of the company’s stock, valued at $1,194,282. This represents a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 52,931 shares of company stock worth $6,252,759. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NTAP shares. Barclays dropped their target price on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. cut their price objective on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Morgan Stanley raised their target price on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Finally, Loop Capital lowered their price objective on NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Twelve 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 stock currently has an average rating of “Hold” and an average price target 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.