NetApp, Inc. (NASDAQ:NTAP) Stock Holdings Trimmed by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 30.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 109,732 shares of the data storage provider’s stock after selling 47,175 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.05% of NetApp worth $12,738,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of NTAP. M&T Bank Corp grew its position in NetApp by 4.8% in the 4th quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock valued at $1,485,000 after buying an additional 581 shares in the last quarter. Versor Investments LP acquired a new stake in shares of NetApp in the 4th quarter worth approximately $395,000. AMJ Financial Wealth Management boosted its holdings in shares of NetApp by 120.7% in the fourth quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider’s stock valued at $7,998,000 after acquiring an additional 37,684 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of NetApp by 9.2% in the fourth 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 acquiring an additional 113,360 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in shares of NetApp during the fourth quarter valued at approximately $5,151,000. Institutional investors own 92.17% of the company’s stock.

NetApp Trading Up 1.1%

NASDAQ NTAP opened at $99.53 on Wednesday. The stock has a market cap of $20.25 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The firm’s 50 day moving average price is $88.34 and its two-hundred day moving average price is $108.81.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.09%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Insider Activity

In other NetApp news, President Cesar Cernuda sold 19,696 shares of NetApp 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 completion of the sale, the president now owns 11,928 shares of the company’s stock, valued at $1,075,309.20. This trade represents a 62.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total transaction of $695,555.00. Following the transaction, the chief executive officer now owns 249,765 shares in the company, valued at approximately $20,438,269.95. This represents a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,224 shares of company stock worth $3,531,872 in the last 90 days. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the subject of a number of research analyst reports. Susquehanna downgraded NetApp from a “positive” rating to a “neutral” rating and cut their target price for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. Citigroup cut their price objective on NetApp from $110.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Wedbush reaffirmed a “neutral” rating and set a $110.00 target price (down from $120.00) on shares of NetApp in a report on Friday, February 28th. Wells Fargo & Company cut their price target on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, Evercore ISI reduced their price objective on shares of NetApp from $120.00 to $100.00 and set an “in-line” rating for the company in a research report on Monday, April 28th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $123.07.

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.