Amalgamated Bank Sells 849 Shares of NetApp, Inc. (NASDAQ:NTAP)

Amalgamated Bank lowered its stake in NetApp, Inc. (NASDAQ:NTAP) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,564 shares of the data storage provider’s stock after selling 849 shares during the period. Amalgamated Bank’s holdings in NetApp were worth $4,941,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new stake in NetApp in the fourth quarter worth about $26,000. Golden State Wealth Management LLC bought a new stake in shares of NetApp in the 4th quarter valued at about $35,000. True Wealth Design LLC lifted its holdings in NetApp by 2,833.3% during the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after buying an additional 340 shares during the period. Capital Performance Advisors LLP bought a new stake in NetApp during the third quarter valued at about $44,000. Finally, Ashton Thomas Securities LLC bought a new stake in NetApp during the third quarter valued at about $51,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

NASDAQ NTAP opened at $118.22 on Friday. 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 $86.43 and a 1-year high of $135.45. The company has a market cap of $24.03 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23. The stock’s 50 day simple moving average is $120.22 and its 200-day simple moving average is $122.02.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.76%. NetApp’s dividend payout ratio is currently 38.24%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of NetApp from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 20th. StockNews.com raised NetApp from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Susquehanna cut 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 research note on Monday, February 10th. Stifel Nicolaus upped their price objective on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upgraded shares of NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 target price for the company in a research note on Monday, December 16th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, NetApp has a consensus rating of “Hold” and an average price target of $137.33.

Insider Buying and Selling

In other NetApp news, President Cesar Cernuda sold 22,000 shares of the business’s 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 transaction, the president now directly owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the sale, the chief executive officer now owns 266,765 shares of the company’s stock, valued at $31,755,705.60. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,903 shares of company stock worth $7,260,341. 0.47% of the stock is owned by insiders.

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.