Advisors Asset Management Inc. Sells 1,272 Shares of NetApp, Inc. (NASDAQ:NTAP)

Advisors Asset Management Inc. reduced its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 6.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,171 shares of the data storage provider’s stock after selling 1,272 shares during the quarter. Advisors Asset Management Inc.’s holdings in NetApp were worth $2,109,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Axxcess Wealth Management LLC boosted its stake in shares of NetApp by 0.6% during the 4th quarter. Axxcess Wealth Management LLC now owns 52,907 shares of the data storage provider’s stock worth $6,141,000 after acquiring an additional 314 shares during the period. Counterpoint Mutual Funds LLC boosted its stake in shares of NetApp by 52.6% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 2,830 shares of the data storage provider’s stock worth $329,000 after acquiring an additional 976 shares during the period. Signaturefd LLC boosted its stake in shares of NetApp by 4.9% during the 4th quarter. Signaturefd LLC now owns 3,256 shares of the data storage provider’s stock worth $378,000 after acquiring an additional 152 shares during the period. Parallel Advisors LLC boosted its stake in shares of NetApp by 13.0% during the 4th quarter. Parallel Advisors LLC now owns 3,747 shares of the data storage provider’s stock worth $435,000 after acquiring an additional 430 shares during the period. Finally, Cibc World Markets Corp lifted its holdings in NetApp by 15.7% during the 4th quarter. Cibc World Markets Corp now owns 32,286 shares of the data storage provider’s stock worth $3,748,000 after purchasing an additional 4,385 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a report on Wednesday, February 19th. Loop Capital dropped their price target on NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. StockNews.com cut NetApp from a “buy” rating to a “hold” rating in a report on Friday, February 28th. 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 report on Friday, February 28th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NetApp presently has a consensus rating of “Hold” and an average price target of $129.07.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 451 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $116.79, for a total transaction of $52,672.29. Following the sale, the executive vice president now owns 12,005 shares in the company, valued at $1,402,063.95. The trade was a 3.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the sale, the president now owns 27,099 shares in the company, valued at $3,116,114.01. This represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,931 shares of company stock worth $6,252,759. Insiders own 0.47% of the company’s stock.

NetApp Trading Up 0.2 %

Shares of NTAP opened at $92.25 on Friday. NetApp, Inc. has a 52-week low of $89.88 and a 52-week high of $135.45. The business’s fifty day moving average is $112.44 and its 200-day moving average is $118.07. 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 firm has a market cap of $18.76 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.25%. NetApp’s payout ratio is 38.52%.

NetApp 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.