NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. decreased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,005 shares of the data storage provider’s stock after selling 323 shares during the period. Brown Brothers Harriman & Co.’s holdings in NetApp were worth $465,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Resonant Capital Advisors LLC raised its holdings in NetApp by 1.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock worth $516,000 after purchasing an additional 80 shares in the last quarter. Larson Financial Group LLC grew its holdings in NetApp by 2.5% during the fourth quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider’s stock worth $438,000 after acquiring an additional 92 shares during the period. Geneos Wealth Management Inc. raised its position in NetApp by 22.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock worth $64,000 after acquiring an additional 100 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in NetApp by 3.6% in the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider’s stock valued at $337,000 after acquiring an additional 100 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of NetApp by 2.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider’s stock worth $534,000 after purchasing an additional 111 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTAP has been the subject of a number of research analyst reports. TD Cowen reduced their target price on NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, February 28th. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a report on Wednesday, February 19th. Barclays decreased their price target on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Susquehanna lowered NetApp from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Finally, Wells Fargo & Company lowered their price target on NetApp from $130.00 to $115.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $129.07.

Insider Activity at NetApp

In other news, Director Anders Gustafsson bought 2,800 shares of NetApp stock in a transaction dated Thursday, March 27th. The shares were bought at an average price of $91.00 per share, for a total transaction of $254,800.00. Following the purchase, the director now owns 6,348 shares of the company’s stock, valued at approximately $577,668. This trade represents a 78.92 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Cesar Cernuda sold 19,696 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the sale, the president now directly owns 11,928 shares in the company, valued at approximately $1,075,309.20. The trade was a 62.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,627 shares of company stock worth $5,498,573. 0.47% of the stock is owned by corporate insiders.

NetApp Stock Down 0.6 %

NTAP stock opened at $87.84 on Tuesday. NetApp, Inc. has a twelve month low of $86.40 and a twelve month high of $135.45. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The company has a market cap of $17.87 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The business’s 50-day simple moving average is $109.13 and its 200 day simple moving average is $117.06.

NetApp Dividend Announcement

The company also recently disclosed 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. This represents a $2.08 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, April 4th. NetApp’s payout ratio is presently 38.52%.

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.