Boothbay Fund Management LLC Sells 349 Shares of NetApp, Inc. (NASDAQ:NTAP)

Boothbay Fund Management LLC decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 12.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,469 shares of the data storage provider’s stock after selling 349 shares during the period. Boothbay Fund Management LLC’s holdings in NetApp were worth $287,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of NetApp during the 4th quarter valued at $26,000. Assetmark Inc. increased its stake in NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after buying an additional 215 shares in the last quarter. Synergy Investment Management LLC bought a new position in shares of NetApp in the fourth quarter worth about $32,000. Golden State Wealth Management LLC bought a new position in shares of NetApp in the fourth quarter worth about $35,000. Finally, Coppell Advisory Solutions LLC grew its position in shares of NetApp by 50.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider’s stock worth $35,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of research analyst reports. TD Cowen lowered their price target on NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, February 28th. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a report on Wednesday, February 19th. Wedbush restated 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, Barclays raised NetApp from an “equal weight” rating to an “overweight” rating and set a $115.00 target price on the stock in a report on Wednesday. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $123.07.

NetApp Trading Up 2.9 %

NTAP stock opened at $92.33 on Friday. 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 market capitalization of $18.78 billion, a PE ratio of 16.97, a P/E/G ratio of 2.45 and a beta of 1.31. The firm’s 50-day moving average is $89.43 and its 200 day moving average is $110.25. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.25%. NetApp’s dividend payout ratio is presently 38.52%.

Insider Activity at NetApp

In related news, CFO Michael J. Berry sold 12,500 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 123,243 shares in the company, valued at $14,880,359.82. The trade was a 9.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the sale, the chief executive officer now directly owns 266,765 shares of the company’s stock, valued at $31,755,705.60. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,176 shares of company stock valued at $5,095,701 over the last ninety days. 0.47% of the stock is owned by company insiders.

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.