NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV cut its stake in NetApp, Inc. (NASDAQ:NTAP) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,690 shares of the data storage provider’s stock after selling 327 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in NetApp were worth $3,122,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Resonant Capital Advisors LLC raised its position in NetApp by 1.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock worth $516,000 after buying an additional 80 shares during the last quarter. Larson Financial Group LLC lifted its stake in NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider’s stock valued at $438,000 after acquiring an additional 92 shares during the period. Geneos Wealth Management Inc. lifted its stake in NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock valued at $64,000 after acquiring an additional 100 shares during the period. Moors & Cabot Inc. lifted its stake in NetApp by 3.6% during the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider’s stock valued at $337,000 after acquiring an additional 100 shares during the period. Finally, Coppell Advisory Solutions LLC lifted its stake in NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider’s stock valued at $35,000 after acquiring an additional 100 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total transaction of $695,555.00. Following the completion of the sale, the chief executive officer now owns 249,765 shares of the company’s stock, valued at $20,438,269.95. This represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anders Gustafsson bought 2,800 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were acquired at an average cost of $91.00 per share, with a total value of $254,800.00. Following the acquisition, the director now directly owns 6,348 shares of the company’s stock, valued at approximately $577,668. This represents a 78.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 37,224 shares of company stock valued at $3,531,872. 0.47% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on NTAP shares. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Wedbush restated a “neutral” rating and set a $110.00 price objective (down from $120.00) on shares of NetApp in a research note on Friday, February 28th. Citigroup lifted their price objective on shares of NetApp from $90.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Finally, Evercore ISI decreased their price objective on shares of NetApp from $120.00 to $100.00 and set an “in-line” rating for the company in a research note on Monday, April 28th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, NetApp presently has an average rating of “Hold” and an average target price of $124.07.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $100.53 on Friday. The firm has a market cap of $20.45 billion, a PE ratio of 18.48, a PEG ratio of 2.45 and a beta of 1.40. The firm has a fifty day moving average of $88.80 and a 200 day moving average of $108.46. 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, Inc. has a one year low of $71.84 and a one year high of $135.45.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, April 4th. NetApp’s payout ratio is presently 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.