Strategy Asset Managers LLC Sells 129 Shares of NetApp, Inc. (NASDAQ:NTAP)

Strategy Asset Managers LLC reduced its stake in NetApp, Inc. (NASDAQ:NTAP) by 2.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,403 shares of the data storage provider’s stock after selling 129 shares during the quarter. Strategy Asset Managers LLC’s holdings in NetApp were worth $743,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of NetApp in the 4th quarter valued at $26,000. Assetmark Inc. raised its stake in shares of NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 215 shares during the last quarter. Synergy Investment Management LLC acquired a new stake in shares of NetApp during the fourth quarter worth about $32,000. Golden State Wealth Management LLC purchased a new stake in NetApp in the fourth quarter valued at approximately $35,000. Finally, OFI Invest Asset Management acquired a new position in NetApp in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 451 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the completion of the sale, the executive vice president now owns 12,005 shares of the company’s stock, valued at $1,402,063.95. This represents a 3.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the sale, the president now directly owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,931 shares of company stock worth $6,252,759 in the last three months. 0.47% of the stock is owned by corporate insiders.

NetApp Stock Down 3.0 %

NTAP stock opened at $88.40 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The firm has a 50-day moving average of $109.82 and a two-hundred day moving average of $117.23. NetApp, Inc. has a 12 month low of $88.14 and a 12 month high of $135.45. The company has a market cap of $17.98 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Friday, April 4th. NetApp’s dividend payout ratio (DPR) is currently 38.52%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NTAP. StockNews.com lowered shares of NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research note on Wednesday, February 19th. TD Cowen dropped their target price on NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Susquehanna downgraded NetApp from a “positive” rating to a “neutral” rating and decreased their price target for the company from $155.00 to $130.00 in a report on Monday, February 10th. Finally, Barclays cut their target price on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $129.07.

About NetApp

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.