Jump Financial LLC Decreases Stock Holdings in NetApp, Inc. $NTAP

Jump Financial LLC reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 54.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,127 shares of the data storage provider's stock after selling 5,027 shares during the period. Jump Financial LLC's holdings in NetApp were worth $363,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Manchester Capital Management LLC raised its stake in NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock valued at $25,000 after purchasing an additional 225 shares during the period. Olde Wealth Management LLC bought a new stake in NetApp during the 1st quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in NetApp by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider's stock valued at $31,000 after purchasing an additional 124 shares during the period. Park Square Financial Group LLC bought a new stake in NetApp during the 4th quarter valued at approximately $36,000. Finally, Summit Securities Group LLC bought a new stake in NetApp during the 1st quarter valued at approximately $36,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NetApp

In other news, CEO George Kurian sold 8,500 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $101.78, for a total transaction of $865,130.00. Following the transaction, the chief executive officer owned 296,805 shares of the company's stock, valued at approximately $30,208,812.90. This represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $105.90, for a total value of $105,900.00. Following the transaction, the executive vice president directly owned 23,251 shares in the company, valued at $2,462,280.90. The trade was a 4.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,500 shares of company stock worth $2,921,775 in the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

NetApp Trading Down 0.1%

NetApp stock traded down $0.08 during mid-day trading on Friday, hitting $118.75. The company's stock had a trading volume of 1,412,919 shares, compared to its average volume of 2,025,987. The company has a 50 day moving average of $107.89 and a 200-day moving average of $100.11. The stock has a market cap of $23.70 billion, a PE ratio of 20.98, a P/E/G ratio of 2.58 and a beta of 1.46. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp's dividend payout ratio is 36.75%.

Analysts Set New Price Targets

A number of research firms have issued reports on NTAP. Barclays lifted their price objective on NetApp from $117.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Bank of America lifted their price objective on NetApp from $121.00 to $125.00 and gave the stock a "neutral" rating in a research note on Monday, August 25th. Morgan Stanley set a $117.00 price objective on NetApp in a research note on Thursday, August 28th. Northland Securities lifted their price objective on NetApp from $119.00 to $120.00 and gave the stock a "market perform" rating in a research note on Thursday, August 28th. Finally, JPMorgan Chase & Co. lifted their price objective on NetApp from $115.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company has an average 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.