OVERSEA CHINESE BANKING Corp Ltd Sells 4,258 Shares of NetApp, Inc. (NASDAQ:NTAP)

OVERSEA CHINESE BANKING Corp Ltd lowered its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 45.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,132 shares of the data storage provider’s stock after selling 4,258 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in NetApp were worth $596,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Xponance Inc. increased its position in shares of NetApp by 32.7% during the fourth quarter. Xponance Inc. now owns 50,303 shares of the data storage provider’s stock worth $5,839,000 after buying an additional 12,402 shares during the period. Boston Partners boosted its position in shares of NetApp by 53.9% during the 4th quarter. Boston Partners now owns 2,083,189 shares of the data storage provider’s stock worth $241,867,000 after purchasing an additional 729,394 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in NetApp in the fourth quarter valued at approximately $4,314,000. Axxcess Wealth Management LLC increased its holdings in shares of NetApp by 0.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 52,907 shares of the data storage provider’s stock valued at $6,141,000 after acquiring an additional 314 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC grew its position in NetApp by 52.6% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 2,830 shares of the data storage provider’s stock valued at $329,000 after purchasing an additional 976 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Trading Down 1.5 %

Shares of NTAP opened at $92.10 on Friday. The business’s 50-day moving average price is $112.92 and its 200-day moving average price is $118.27. NetApp, Inc. has a twelve month low of $89.88 and a twelve month high of $135.45. The stock has a market cap of $18.73 billion, a PE ratio of 16.93, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp Dividend Announcement

The business also recently declared 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. This represents a $2.08 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, April 4th. NetApp’s dividend payout ratio is presently 38.52%.

Insider Activity

In other NetApp news, EVP Elizabeth M. O’callahan sold 451 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $116.79, for a total value of $52,672.29. Following the completion of the sale, the executive vice president now owns 12,005 shares of the company’s stock, valued at $1,402,063.95. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the business’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 sale, the president now owns 27,099 shares of the company’s stock, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,931 shares of company stock worth $6,252,759 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NTAP. StockNews.com downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Susquehanna downgraded shares of NetApp from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Finally, Citigroup lowered their target price on NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.