NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP decreased its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 77.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,990 shares of the data storage provider's stock after selling 6,746 shares during the period. Dark Forest Capital Management LP's holdings in NetApp were worth $231,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Resonant Capital Advisors LLC grew its holdings in shares of 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 purchasing an additional 80 shares during the period. Larson Financial Group LLC grew its stake in shares of NetApp by 2.5% in the fourth quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after buying an additional 92 shares in the last quarter. 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 worth $64,000 after acquiring an additional 100 shares in the last quarter. Moors & Cabot Inc. grew its position in NetApp by 3.6% in 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 in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of NetApp by 2.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock valued at $534,000 after purchasing an additional 111 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Michael J. Berry sold 12,500 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the sale, the chief financial officer now owns 123,243 shares in the company, valued at $14,880,359.82. This trade represents a 9.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anders Gustafsson bought 2,800 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average price of $91.00 per share, with a total value of $254,800.00. Following the completion of the purchase, the director now directly owns 6,348 shares of the company's stock, valued at approximately $577,668. The trade was a 78.92 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 50,176 shares of company stock valued at $5,095,701 in the last ninety days. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NTAP shares. Citigroup cut their price objective on NetApp from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. TD Cowen reduced their target price on shares of NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Wedbush restated a "neutral" rating and issued a $110.00 price objective (down from $120.00) on shares of NetApp in a report on Friday, February 28th. StockNews.com lowered NetApp from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Wells Fargo & Company cut their target price on NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $123.07.

NetApp Price Performance

Shares of NTAP stock traded up $1.25 during midday trading on Monday, reaching $93.58. 238,543 shares of the company traded hands, compared to its average volume of 2,093,898. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The firm has a market cap of $19.04 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. The firm's 50 day simple moving average is $89.43 and its two-hundred day simple moving average is $110.03. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were issued a $0.52 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.22%. NetApp's dividend payout ratio (DPR) is 38.52%.

NetApp Company 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.