Landscape Capital Management L.L.C. Decreases Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Landscape Capital Management L.L.C. lowered its stake in NetApp, Inc. (NASDAQ:NTAP) by 57.7% during the 4th quarter, HoldingsChannel reports. The firm owned 5,977 shares of the data storage provider’s stock after selling 8,159 shares during the period. Landscape Capital Management L.L.C.’s holdings in NetApp were worth $694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of NetApp during the 4th quarter valued at $26,000. Assetmark Inc. lifted its holdings in NetApp by 826.9% in the fourth 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 purchased a new position in NetApp in the fourth quarter worth about $32,000. Golden State Wealth Management LLC bought a new stake in shares of NetApp during the 4th quarter valued at about $35,000. Finally, OFI Invest Asset Management purchased a new stake in shares of NetApp during the 4th quarter valued at about $39,000. Institutional investors own 92.17% of the company’s stock.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 451 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the sale, the executive vice president now owns 12,005 shares in the company, valued at approximately $1,402,063.95. The trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anders Gustafsson purchased 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average cost of $91.00 per share, for a total transaction of $254,800.00. Following the purchase, the director now owns 6,348 shares of the company’s stock, valued at $577,668. This represents a 78.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 50,627 shares of company stock valued at $5,498,573. 0.47% of the stock is currently owned by insiders.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $76.10 on Monday. The firm has a market cap of $15.48 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 2.45 and a beta of 1.31. The firm has a fifty day moving average price of $105.85 and a 200 day moving average price of $116.10. NetApp, Inc. has a fifty-two week low of $71.44 and a fifty-two week high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

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 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 2.73%. NetApp’s payout ratio is 38.52%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NTAP. JPMorgan Chase & Co. cut their target price on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Wedbush restated a “neutral” rating and issued a $110.00 price objective (down from $120.00) on shares of NetApp in a research note on Friday, February 28th. Morgan Stanley lifted their target price on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Citigroup reduced their price target on NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, Bank of America raised 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. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $129.07.

About NetApp

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.