Bridgeway Capital Management LLC Sells 5,350 Shares of NetApp, Inc. (NASDAQ:NTAP)

Bridgeway Capital Management LLC lessened its holdings in NetApp, Inc. (NASDAQ:NTAP) by 16.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,250 shares of the data storage provider’s stock after selling 5,350 shares during the quarter. Bridgeway Capital Management LLC’s holdings in NetApp were worth $3,163,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of NetApp by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider’s stock valued at $3,069,617,000 after buying an additional 429,343 shares in the last quarter. Ameriprise Financial Inc. grew its stake in NetApp by 14.5% during the fourth quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider’s stock worth $815,402,000 after buying an additional 888,671 shares in the last quarter. Invesco Ltd. increased its holdings in NetApp by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider’s stock valued at $362,544,000 after buying an additional 529,471 shares during the period. Beutel Goodman & Co Ltd. raised its position in shares of NetApp by 0.4% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider’s stock valued at $335,215,000 after buying an additional 12,919 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of NetApp by 24.2% during the 4th quarter. Northern Trust Corp now owns 2,824,327 shares of the data storage provider’s stock worth $327,848,000 after acquiring an additional 550,607 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $81.83, for a total transaction of $695,555.00. Following the transaction, the chief executive officer now owns 249,765 shares of the company’s stock, valued at $20,438,269.95. The trade was a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Cesar Cernuda sold 19,696 shares of the firm’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 $1,075,309.20. The trade was a 62.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,676 shares of company stock valued at $3,586,451. 0.47% of the stock is owned by company insiders.

NetApp Price Performance

NetApp stock opened at $94.44 on Friday. The stock’s 50 day moving average price is $88.12 and its two-hundred day moving average price is $109.34. The stock has a market capitalization of $19.21 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 2.45 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.20%. The ex-dividend date was Friday, April 4th. NetApp’s dividend payout ratio (DPR) is currently 38.52%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NTAP shares. Wedbush restated a “neutral” rating and set a $110.00 target price (down from $120.00) on shares of NetApp in a research note on Friday, February 28th. Citigroup lowered their target price on NetApp from $110.00 to $90.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Barclays raised shares of NetApp from an “equal weight” rating to an “overweight” rating and set a $115.00 target price for the company in a report on Wednesday, April 30th. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut their price objective on NetApp from $153.00 to $113.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $123.07.

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.