NetApp, Inc. (NASDAQ:NTAP) President Cesar Cernuda Sells 19,696 Shares

NetApp, Inc. (NASDAQ:NTAP) President Cesar Cernuda sold 19,696 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the transaction, the president now owns 11,928 shares in the company, valued at $1,075,309.20. This trade represents a 62.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

NetApp Price Performance

NetApp stock traded down $0.56 during mid-day trading on Monday, reaching $87.84. The company had a trading volume of 2,943,099 shares, compared to its average volume of 1,853,334. The business has a fifty day simple moving average of $109.82 and a 200 day simple moving average of $117.26. The company has a market cap of $17.87 billion, a P/E ratio of 16.15, a P/E/G ratio of 2.45 and a beta of 1.24. 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, Inc. has a fifty-two week low of $86.41 and a fifty-two week high of $135.45.

NetApp Dividend Announcement

The company 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 of this dividend is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.37%. NetApp’s dividend payout ratio is currently 38.52%.

Analysts Set New Price Targets

A number of research analysts have issued reports on NTAP shares. 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. Bank of America upgraded NetApp from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. Susquehanna downgraded NetApp from a “positive” rating to a “neutral” rating and cut their target price for the company from $155.00 to $130.00 in a research report on Monday, February 10th. 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. Finally, Loop Capital dropped their price target on NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Twelve investment 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 company presently has an average rating of “Hold” and a consensus target price of $129.07.

Hedge Funds Weigh In On NetApp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Resonant Capital Advisors LLC grew its holdings in shares of NetApp by 1.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock worth $516,000 after purchasing an additional 80 shares during the last quarter. Larson Financial Group LLC boosted its position in NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider’s stock worth $438,000 after buying an additional 92 shares during the period. Geneos Wealth Management Inc. grew its holdings in NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock worth $64,000 after acquiring an additional 100 shares during the last quarter. Moors & Cabot Inc. increased its position in NetApp by 3.6% in the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider’s stock valued at $337,000 after acquiring an additional 100 shares during the period. Finally, Coppell Advisory Solutions LLC increased its position in NetApp by 50.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider’s stock valued at $35,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 92.17% 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.