CoreCap Advisors LLC Sells 11,283 Shares of NetApp, Inc. (NASDAQ:NTAP)

CoreCap Advisors LLC lessened its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 95.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 536 shares of the data storage provider's stock after selling 11,283 shares during the quarter. CoreCap Advisors LLC's holdings in NetApp were worth $62,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTAP. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of NetApp in the 4th quarter valued at $26,000. Assetmark Inc. boosted its stake in shares of NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after purchasing an additional 215 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in shares of NetApp in the 4th quarter valued at $32,000. Itau Unibanco Holding S.A. boosted its stake in shares of NetApp by 929.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock valued at $32,000 after purchasing an additional 251 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of NetApp in the 4th quarter valued at $35,000. Institutional investors own 92.17% of the company's stock.

Insider Activity

In related news, Director Anders Gustafsson purchased 2,800 shares of the stock in a transaction dated Thursday, March 27th. The stock was bought at an average cost of $91.00 per share, with a total value of $254,800.00. Following the purchase, the director now directly owns 6,348 shares in the company, valued at $577,668. The trade was a 78.92% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 249,765 shares of the company's stock, valued at approximately $20,438,269.95. This trade represents a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,224 shares of company stock valued at $3,531,872 in the last ninety days. 0.47% of the stock is owned by insiders.

NetApp Trading Up 0.7%

Shares of NTAP stock traded up $0.71 on Friday, reaching $100.53. The company had a trading volume of 1,698,642 shares, compared to its average volume of 1,919,271. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The stock 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 company has a 50-day moving average of $88.80 and a 200-day moving average of $108.46. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.07%. NetApp's dividend payout ratio (DPR) is presently 38.52%.

Analyst Upgrades and Downgrades

NTAP has been the topic of several research reports. Bank of America upgraded shares of NetApp from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods upgraded shares of NetApp to an "outperform" rating in a research report on Wednesday, February 19th. StockNews.com downgraded shares of NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Citigroup upped their price target on shares of NetApp from $90.00 to $105.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, TD Cowen reduced their price target on shares of NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, NetApp has a consensus rating of "Hold" and a consensus price target of $124.07.

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.