Janus Henderson Group PLC Has $3.71 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Janus Henderson Group PLC lowered its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,946 shares of the data storage provider's stock after selling 21,297 shares during the period. Janus Henderson Group PLC's holdings in NetApp were worth $3,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Resonant Capital Advisors LLC boosted its stake in NetApp by 1.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock valued at $516,000 after acquiring an additional 80 shares during the last quarter. Larson Financial Group LLC boosted its stake in 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 acquiring an additional 92 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in NetApp by 22.3% in the fourth 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 last quarter. Moors & Cabot Inc. boosted its stake in NetApp by 3.6% in the fourth 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 last quarter. Finally, Coppell Advisory Solutions LLC boosted its stake in NetApp by 50.0% in the fourth 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 last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

Insider Activity

In other news, 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 sale, the chief executive officer now directly owns 249,765 shares of the company's stock, valued at approximately $20,438,269.95. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth M. O'callahan sold 528 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the completion of the sale, the executive vice president now directly owns 12,900 shares in the company, valued at approximately $1,194,282. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,724 shares of company stock valued at $2,520,032. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on NTAP. Loop Capital reduced their price objective on shares of NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. StockNews.com cut shares of NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Bank of America raised shares of 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 research report on Wednesday, February 19th. Evercore ISI reduced their price target on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a research report on Monday, April 28th. Finally, Wedbush reissued a "neutral" rating and set a $110.00 price target (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $124.07.

NetApp Trading Up 1.0%

Shares of NASDAQ:NTAP opened at $101.53 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The company's 50-day moving average price is $89.01 and its two-hundred day moving average price is $108.24. The stock has a market capitalization of $20.65 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were issued 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 2.05%. NetApp's payout ratio is 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.

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