NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 479,178 shares of the data storage provider’s stock after selling 24,867 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.24% of NetApp worth $55,623,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in NetApp during the fourth quarter worth $26,000. Assetmark Inc. increased its stake in NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 215 shares during the last quarter. Synergy Investment Management LLC acquired a new stake in NetApp during the fourth quarter worth $32,000. Golden State Wealth Management LLC acquired a new stake in NetApp during the fourth quarter worth $35,000. Finally, OFI Invest Asset Management acquired a new stake in NetApp during the fourth quarter worth $39,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NTAP. Wedbush reaffirmed a “neutral” rating and issued a $110.00 price objective (down from $120.00) on shares of NetApp in a research note on Friday, February 28th. Loop Capital dropped their price objective on NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Morgan Stanley lifted their price objective on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Finally, Barclays dropped their price objective 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. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $129.07.

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 528 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $92.58, for a total value of $48,882.24. Following the completion of the sale, the executive vice president now directly owns 12,900 shares of the company’s stock, valued at approximately $1,194,282. The trade was a 3.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $124.29, for a total value of $1,056,465.00. Following the completion of the sale, the chief executive officer now directly owns 279,782 shares of the company’s stock, valued at $34,774,104.78. The trade was a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 61,431 shares of company stock valued at $7,309,224. Insiders own 0.47% of the company’s stock.

NetApp Stock Down 1.2 %

Shares of NASDAQ NTAP opened at $90.92 on Wednesday. The company has a market capitalization of $18.49 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth 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. The business has a 50-day moving average of $116.44 and a two-hundred day moving average of $119.89. NetApp, Inc. has a 1 year low of $90.08 and a 1 year high of $135.45.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Friday, April 4th. NetApp’s dividend payout ratio (DPR) is 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.