Caisse DE Depot ET Placement DU Quebec Sells 22,046 Shares of NetApp, Inc. (NASDAQ:NTAP)

Caisse DE Depot ET Placement DU Quebec cut its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 529,866 shares of the data storage provider's stock after selling 22,046 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.26% of NetApp worth $61,507,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. M&T Bank Corp boosted its stake in shares of NetApp by 4.8% in the 4th quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider's stock valued at $1,485,000 after purchasing an additional 581 shares during the last quarter. Versor Investments LP acquired a new stake in NetApp during the 4th quarter worth $395,000. AMJ Financial Wealth Management boosted its position in shares of NetApp by 120.7% in the 4th quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider's stock worth $7,998,000 after purchasing an additional 37,684 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of NetApp by 9.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider's stock worth $156,268,000 after purchasing an additional 113,360 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new position in NetApp in the fourth quarter valued at about $5,151,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NTAP has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Wells Fargo & Company cut their price objective on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Keefe, Bruyette & Woods raised shares of NetApp to an "outperform" rating in a research report on Wednesday, February 19th. Finally, Loop Capital lowered their target price on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $123.07.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O'callahan sold 452 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $120.75, for a total transaction of $54,579.00. Following the sale, the executive vice president now owns 11,553 shares of the company's stock, valued at approximately $1,395,024.75. The trade was a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the completion of the transaction, the chief executive officer now owns 249,765 shares of the company's stock, valued at $20,438,269.95. The trade was a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,676 shares of company stock worth $3,586,451 over the last 90 days. Insiders own 0.47% of the company's stock.

NetApp Price Performance

Shares of NetApp stock traded up $0.10 on Wednesday, reaching $92.36. 739,240 shares of the stock were exchanged, compared to its average volume of 1,922,353. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The firm has a market cap of $18.79 billion, a PE ratio of 16.97, a P/E/G ratio of 2.45 and a beta of 1.40. 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's 50 day moving average is $88.28 and its 200-day moving average is $109.67.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.25%. The ex-dividend date was Friday, April 4th. NetApp's dividend payout ratio (DPR) is presently 38.52%.

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.