Worldquant Millennium Advisors LLC Reduces Position in NetApp, Inc. (NASDAQ:NTAP)

Worldquant Millennium Advisors LLC lessened its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 37.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,191 shares of the data storage provider’s stock after selling 9,232 shares during the period. Worldquant Millennium Advisors LLC’s holdings in NetApp were worth $1,763,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Resonant Capital Advisors LLC raised its stake in shares of NetApp by 1.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock valued at $516,000 after acquiring an additional 80 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of NetApp by 2.5% during the fourth quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider’s stock valued at $438,000 after acquiring an additional 92 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of NetApp by 22.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock valued at $64,000 after acquiring an additional 100 shares in the last quarter. Moors & Cabot Inc. raised its stake in shares of NetApp by 3.6% during the fourth quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider’s stock valued at $337,000 after acquiring an additional 100 shares in the last quarter. Finally, Coppell Advisory Solutions LLC raised its stake 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 valued at $35,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

Shares of NTAP stock opened at $99.78 on Friday. The business’s fifty day simple moving average is $89.51 and its 200-day simple moving average is $108.02. The company has a market cap of $20.30 billion, a PE ratio of 18.34, a PEG ratio of 2.45 and a beta of 1.40. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. 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 declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, April 4th. NetApp’s payout ratio is presently 38.52%.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 528 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $92.58, for a total transaction of $48,882.24. Following the transaction, the executive vice president now directly owns 12,900 shares of the company’s stock, valued at approximately $1,194,282. This represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the completion of the transaction, the chief executive officer now directly owns 249,765 shares in the company, valued at approximately $20,438,269.95. The trade was a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,724 shares of company stock valued at $2,520,032. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. TD Cowen decreased their price target on shares of NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Susquehanna lowered NetApp from a “positive” rating to a “neutral” rating and lowered their target price for the stock from $155.00 to $130.00 in a report on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on NetApp from $153.00 to $113.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, Wedbush restated a “neutral” rating and set a $110.00 target price (down previously from $120.00) on shares of NetApp in a report on Friday, February 28th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, NetApp has an average rating of “Hold” and a consensus target price of $121.40.

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.