Keybank National Association OH Sells 4,271 Shares of NetApp, Inc. (NASDAQ:NTAP)

Keybank National Association OH trimmed its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,418 shares of the data storage provider’s stock after selling 4,271 shares during the quarter. Keybank National Association OH’s holdings in NetApp were worth $2,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new position in NetApp during the fourth quarter worth $26,000. Synergy Investment Management LLC acquired a new stake in shares of NetApp during the fourth quarter worth $32,000. Golden State Wealth Management LLC acquired a new stake in shares of NetApp during the fourth quarter worth $35,000. True Wealth Design LLC lifted its holdings in shares of NetApp by 2,833.3% during the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after buying an additional 340 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of NetApp during the third quarter worth $44,000. 92.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of research reports. Wedbush reissued a “neutral” rating and set a $110.00 target price (down previously from $120.00) on shares of NetApp in a report on Friday, February 28th. Morgan Stanley lifted their target price on NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Loop Capital dropped their target price on NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday. Oppenheimer assumed coverage on NetApp in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. dropped their price target on NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, NetApp currently has an average rating of “Hold” and a consensus price target of $129.07.

NetApp Stock Performance

NetApp stock opened at $91.86 on Friday. NetApp, Inc. has a 12-month low of $91.19 and a 12-month high of $135.45. 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 business’s 50-day moving average price is $117.89 and its two-hundred day moving average price is $120.89. The stock has a market cap of $18.69 billion, a PE ratio of 16.89, a P/E/G ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

The firm also recently announced 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 2.26%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio is presently 38.52%.

Insider Buying and Selling at NetApp

In other news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the sale, the chief executive officer now directly owns 279,782 shares in the company, valued at approximately $34,774,104.78. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 452 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the sale, the executive vice president now owns 11,553 shares in the company, valued at approximately $1,395,024.75. This trade represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,903 shares of company stock worth $7,260,341 over the last 90 days. Insiders own 0.47% of the company’s stock.

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.