National Pension Service Sells 8,926 Shares of NetApp, Inc. (NASDAQ:NTAP)

National Pension Service trimmed its position in NetApp, Inc. (NASDAQ:NTAP) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 427,239 shares of the data storage provider’s stock after selling 8,926 shares during the quarter. National Pension Service owned 0.21% of NetApp worth $49,594,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NTAP. Private Advisor Group LLC increased its stake in NetApp by 25.4% in the third quarter. Private Advisor Group LLC now owns 3,166 shares of the data storage provider’s stock valued at $391,000 after acquiring an additional 642 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in NetApp by 1.8% in the third quarter. Assenagon Asset Management S.A. now owns 27,091 shares of the data storage provider’s stock valued at $3,346,000 after buying an additional 474 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in NetApp by 4.3% in the third quarter. Nisa Investment Advisors LLC now owns 81,544 shares of the data storage provider’s stock valued at $10,071,000 after buying an additional 3,386 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in NetApp by 98.1% in the third quarter. Pallas Capital Advisors LLC now owns 4,118 shares of the data storage provider’s stock valued at $494,000 after buying an additional 2,039 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in NetApp by 30.4% in the third quarter. First Trust Direct Indexing L.P. now owns 8,443 shares of the data storage provider’s stock valued at $1,043,000 after buying an additional 1,966 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on shares of NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Stifel Nicolaus lifted their price target on shares of NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. TD Cowen lifted their price target on shares of NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Citigroup lifted their price target on shares of NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Wedbush reiterated a “neutral” rating and set a $120.00 price target on shares of NetApp in a report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $137.33.

NetApp Trading Down 5.0 %

Shares of NTAP stock opened at $118.22 on Friday. NetApp, Inc. has a 52-week low of $86.43 and a 52-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. The company has a 50-day simple moving average of $120.22 and a two-hundred day simple moving average of $122.02. The company has a market capitalization of $24.03 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 2.45 and a beta of 1.23.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. NetApp’s payout ratio is 38.24%.

Insiders Place Their Bets

In other NetApp news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total value of $1,011,840.00. Following the transaction, the chief executive officer now directly owns 266,765 shares in the company, valued at $31,755,705.60. The trade was a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 451 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 60,903 shares of company stock valued at $7,260,341. Corporate 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.