CFO4Life Group LLC Sells 199 Shares of NetApp, Inc. (NASDAQ:NTAP)

CFO4Life Group LLC trimmed its stake in NetApp, Inc. (NASDAQ:NTAP) by 3.2% during the 4th quarter, HoldingsChannel reports. The fund owned 6,075 shares of the data storage provider’s stock after selling 199 shares during the quarter. CFO4Life Group LLC’s holdings in NetApp were worth $705,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp boosted its holdings in NetApp by 4.8% in 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 in the last quarter. Versor Investments LP bought a new position in shares of NetApp during the fourth quarter valued at $395,000. Intech Investment Management LLC lifted its holdings in shares of NetApp by 8.9% during the third quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock valued at $37,301,000 after purchasing an additional 24,651 shares in the last quarter. AMJ Financial Wealth Management lifted its holdings in shares of NetApp by 120.7% during 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 purchasing an additional 37,684 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of NetApp by 20.9% during the third quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock valued at $5,225,000 after purchasing an additional 7,318 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Susquehanna downgraded NetApp from a “positive” rating to a “neutral” rating and lowered their price target for the company from $155.00 to $130.00 in a report on Monday, February 10th. Oppenheimer started coverage on NetApp in a report on Wednesday, November 13th. They set a “market perform” rating on the stock. Morgan Stanley upped their price objective on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Wedbush reiterated a “neutral” rating and set a $110.00 price objective (down previously from $120.00) on shares of NetApp in a research report on Friday, February 28th. Finally, StockNews.com cut NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $129.07.

NetApp Stock Performance

Shares of NTAP opened at $91.49 on Thursday. The stock has a market cap of $18.61 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 2.45 and a beta of 1.24. 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 business has a 50-day simple moving average of $115.94 and a two-hundred day simple moving average of $119.69. NetApp, Inc. has a 52 week low of $90.08 and a 52 week high of $135.45.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio (DPR) is 38.52%.

Insider Transactions at NetApp

In other news, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total value 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 $3,116,114.01. This represents a 44.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael J. Berry sold 12,500 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total value of $1,509,250.00. Following the transaction, the chief financial officer now directly owns 123,243 shares of the company’s stock, valued at approximately $14,880,359.82. The trade was a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,431 shares of company stock valued at $7,309,224 over the last 90 days. Company insiders own 0.47% of the company’s stock.

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.