NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in NetApp, Inc. (NASDAQ:NTAP) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 43,543 shares of the data storage provider’s stock after selling 1,207 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in NetApp were worth $5,054,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in NetApp in the 4th quarter valued at $26,000. Assetmark Inc. grew its stake in NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 215 shares during the period. Synergy Investment Management LLC acquired a new stake in NetApp in the 4th quarter valued at $32,000. Golden State Wealth Management LLC acquired a new stake in NetApp in the 4th quarter valued at $35,000. Finally, OFI Invest Asset Management acquired a new stake in NetApp in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Activity at NetApp

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

Analysts Set New Price Targets

Several brokerages have issued reports on NTAP. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Morgan Stanley lifted their target price on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Citigroup lowered their target price on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Barclays lowered 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 note on Friday, February 28th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NetApp presently has an average rating of “Hold” and an average target price of $129.07.

NetApp Stock Up 0.2 %

Shares of NTAP opened at $92.25 on Friday. The firm has a market cap of $18.76 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 12-month low of $89.88 and a 12-month high of $135.45. The company’s 50-day moving average price is $112.44 and its 200 day moving average price is $118.07. 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 Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.25%. NetApp’s dividend payout ratio (DPR) is currently 38.52%.

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.