NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Blair William & Co. IL

Blair William & Co. IL trimmed its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,051 shares of the data storage provider’s stock after selling 683 shares during the period. Blair William & Co. IL’s holdings in NetApp were worth $2,095,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners lifted its position in shares of NetApp by 53.9% during the 4th quarter. Boston Partners now owns 2,083,189 shares of the data storage provider’s stock worth $241,867,000 after purchasing an additional 729,394 shares during the last quarter. KBC Group NV lifted its holdings in NetApp by 276.9% during the 4th quarter. KBC Group NV now owns 891,033 shares of the data storage provider’s stock worth $103,431,000 after buying an additional 654,626 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of NetApp during the 4th quarter worth about $64,683,000. Geode Capital Management LLC increased its holdings in shares of NetApp by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock valued at $738,280,000 after acquiring an additional 453,324 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of NetApp by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider’s stock worth $3,069,617,000 after acquiring an additional 429,343 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Transactions at NetApp

In other NetApp news, President Cesar Cernuda sold 19,696 shares of the company’s stock in a transaction dated 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 transaction, the president now directly owns 11,928 shares in the company, valued at approximately $1,075,309.20. This represents a 62.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael J. Berry sold 12,500 shares of NetApp stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the sale, the chief financial officer now 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 have sold a total of 50,627 shares of company stock valued at $5,498,573 in the last ninety days. 0.47% of the stock is currently owned by company insiders.

NetApp Stock Up 1.9 %

NTAP opened at $89.49 on Wednesday. The business has a 50 day simple moving average of $108.45 and a 200-day simple moving average of $116.86. NetApp, Inc. has a 12 month low of $86.40 and a 12 month high of $135.45. The stock has a market capitalization of $18.20 billion, a P/E ratio of 16.45, 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.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given 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 2.32%. NetApp’s payout ratio is currently 38.52%.

Analyst Ratings Changes

Several analysts have recently weighed in on NTAP shares. StockNews.com downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Wells Fargo & Company decreased their price objective on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. cut their target price on NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Barclays decreased their target price on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, Morgan Stanley lifted their price target on NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Twelve research 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 company currently has a consensus rating of “Hold” and a consensus price target of $129.07.

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.