NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC lessened its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 20.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,093 shares of the data storage provider’s stock after selling 2,571 shares during the period. Metis Global Partners LLC’s holdings in NetApp were worth $1,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of NetApp during the 4th quarter worth about $26,000. Golden State Wealth Management LLC acquired a new position in shares of NetApp during the 4th quarter worth about $35,000. True Wealth Design LLC raised its position in shares of NetApp by 2,833.3% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 340 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of NetApp during the 3rd quarter worth about $44,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of NetApp during the 3rd quarter worth about $51,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Stock Performance

NetApp stock opened at $95.73 on Tuesday. The firm has a 50 day simple moving average of $119.41 and a 200-day simple moving average of $121.54. NetApp, Inc. has a 1-year low of $95.18 and a 1-year high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The stock has a market cap of $19.46 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23.

NetApp Dividend Announcement

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 given a dividend of $0.52 per share. The ex-dividend date is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.17%. NetApp’s payout ratio is currently 38.52%.

Analyst Ratings Changes

NTAP has been the subject of several research analyst reports. StockNews.com downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup cut their price objective on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a report on Monday. Barclays cut their price objective on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday. Northland Securities increased their price objective on shares of NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a report on Wednesday, February 19th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $130.40.

Insider Buying and Selling

In related news, President Cesar Cernuda sold 22,000 shares of the 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 completion of the transaction, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This trade represents a 44.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael J. Berry sold 12,500 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the transaction, the chief financial officer now directly owns 123,243 shares of the company’s stock, valued at $14,880,359.82. The trade was a 9.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,903 shares of company stock valued at $7,260,341. Company insiders own 0.47% of the company’s stock.

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.