NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in NetApp, Inc. (NASDAQ:NTAP) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,981 shares of the data storage provider’s stock after selling 1,412 shares during the period. Mutual of America Capital Management LLC’s holdings in NetApp were worth $4,757,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its stake in shares of NetApp by 8.9% in the 3rd quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock valued at $37,301,000 after purchasing an additional 24,651 shares during the last quarter. Versor Investments LP purchased a new stake in NetApp in the 4th quarter valued at about $395,000. Daiwa Securities Group Inc. lifted its position in NetApp by 20.9% in the third quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock valued at $5,225,000 after buying an additional 7,318 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in NetApp by 9.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock worth $156,268,000 after buying an additional 113,360 shares during the period. Finally, Hilton Capital Management LLC purchased a new position in NetApp during the third quarter worth about $4,059,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Stock Down 2.3 %

Shares of NASDAQ:NTAP opened at $93.56 on Wednesday. NetApp, Inc. has a fifty-two week low of $92.59 and a fifty-two week high of $135.45. The firm’s 50 day moving average price is $118.90 and its 200 day moving average price is $121.28. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The stock has a market cap of $19.03 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.22%. NetApp’s payout ratio is 38.52%.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 451 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $116.79, for a total transaction of $52,672.29. Following the sale, the executive vice president now owns 12,005 shares of the company’s stock, valued at approximately $1,402,063.95. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction that occurred on 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 $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 60,903 shares of company stock valued at $7,260,341. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NTAP. Oppenheimer initiated coverage on shares of NetApp in a report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Bank of America upgraded NetApp from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. Stifel Nicolaus lifted their price objective on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Wedbush reiterated a “neutral” rating and issued a $110.00 price objective (down previously from $120.00) on shares of NetApp in a report on Friday, February 28th. Finally, Barclays lowered their target price on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $129.07.

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.