NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. trimmed its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 27.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,117 shares of the data storage provider’s stock after selling 5,307 shares during the quarter. Johnson Financial Group Inc.’s holdings in NetApp were worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of NetApp in the 4th quarter worth $26,000. Assetmark Inc. lifted its position in NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 215 shares during the period. Synergy Investment Management LLC purchased a new stake in NetApp in the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC acquired a new position in NetApp during the 4th quarter worth approximately $35,000. Finally, Coppell Advisory Solutions LLC increased its position in NetApp by 50.0% during the 4th 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 during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Up 0.3 %

Shares of NASDAQ:NTAP opened at $88.45 on Friday. The company has a market capitalization of $17.99 billion, a P/E ratio of 16.26, a P/E/G ratio of 2.45 and a beta of 1.31. The stock’s fifty day simple moving average is $92.87 and its 200-day simple moving average is $111.41. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were issued a $0.52 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.35%. NetApp’s dividend payout ratio (DPR) is 38.52%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. TD Cowen decreased their price target on NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Susquehanna lowered shares of NetApp from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. StockNews.com downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Keefe, Bruyette & Woods raised shares of NetApp to an “outperform” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company lowered their target price on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $125.07.

Insiders Place Their Bets

In related news, CFO Michael J. Berry sold 12,500 shares of the firm’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 sale, the chief financial officer now owns 123,243 shares in the company, valued at approximately $14,880,359.82. This trade represents a 9.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anders Gustafsson bought 2,800 shares of the stock in a transaction on Thursday, March 27th. The stock was purchased at an average cost of $91.00 per share, with a total value of $254,800.00. Following the completion of the purchase, the director now directly owns 6,348 shares in the company, valued at $577,668. This trade represents a 78.92 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 50,176 shares of company stock valued at $5,095,701 in the last ninety days. 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.