Skba Capital Management LLC Sells 3,400 Shares of NetApp, Inc. (NASDAQ:NTAP)

Skba Capital Management LLC trimmed its holdings in NetApp, Inc. (NASDAQ:NTAP) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,130 shares of the data storage provider’s stock after selling 3,400 shares during the quarter. Skba Capital Management LLC’s holdings in NetApp were worth $8,721,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of NetApp during the fourth quarter worth $26,000. Assetmark Inc. boosted its holdings in shares of NetApp by 826.9% during the 4th 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 last quarter. Synergy Investment Management LLC purchased a new position in shares of NetApp during the fourth quarter valued at about $32,000. Golden State Wealth Management LLC bought a new stake in shares of NetApp in the fourth quarter worth about $35,000. Finally, OFI Invest Asset Management purchased a new stake in shares of NetApp in the fourth quarter worth about $39,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Trading Down 3.0 %

Shares of NTAP opened at $88.40 on Monday. The firm has a market capitalization of $17.98 billion, a price-to-earnings ratio of 16.25, a PEG 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. NetApp, Inc. has a 1-year low of $86.95 and a 1-year high of $135.45. The company has a 50-day moving average of $109.82 and a 200 day moving average of $117.26.

NetApp Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NTAP. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a report on Wednesday, February 19th. Wedbush restated a “neutral” rating and issued a $110.00 price target (down previously from $120.00) on shares of NetApp in a research report on Friday, February 28th. Loop Capital dropped their price objective on shares of NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Barclays decreased their target price on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Finally, Susquehanna cut NetApp from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $155.00 to $130.00 in a research note on Monday, February 10th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, NetApp currently has a consensus rating of “Hold” and a consensus target price of $129.07.

Insider Buying and Selling

In related news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $123.03, for a total value of $1,045,755.00. Following the completion of the sale, the chief executive officer now directly owns 271,282 shares of the company’s stock, valued at $33,375,824.46. This represents a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 451 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the transaction, the executive vice president now directly owns 12,005 shares in the company, valued at $1,402,063.95. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,931 shares of company stock valued at $3,722,979 over the last quarter. 0.47% of the stock is owned by corporate insiders.

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.