Nuveen Asset Management LLC Sells 64,680 Shares of NetApp, Inc. (NASDAQ:NTAP)

Nuveen Asset Management LLC lessened its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 563,738 shares of the data storage provider's stock after selling 64,680 shares during the period. Nuveen Asset Management LLC owned about 0.28% of NetApp worth $65,439,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Loop Capital cut their price objective on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Morgan Stanley restated a "cautious" rating on shares of NetApp in a report on Tuesday. Susquehanna downgraded NetApp from a "positive" rating to a "neutral" rating and dropped their target price for the company from $155.00 to $130.00 in a report on Monday, February 10th. TD Cowen dropped their target price on NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods upgraded NetApp to an "outperform" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $121.40.

NetApp Stock Down 1.8%

NASDAQ:NTAP traded down $1.78 during mid-day trading on Friday, reaching $98.00. The stock had a trading volume of 2,840,412 shares, compared to its average volume of 1,921,258. The business's 50 day moving average is $89.62 and its 200 day moving average is $107.89. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The stock has a market cap of $19.93 billion, a P/E ratio of 18.01, a PEG ratio of 2.45 and a beta of 1.40. 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 disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors 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 yield of 2.12%. NetApp's dividend payout ratio is currently 38.52%.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O'callahan sold 528 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was 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 owns 12,900 shares of the company's stock, valued at $1,194,282. This represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 19,696 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $90.15, for a total value of $1,775,594.40. Following the sale, the president now directly owns 11,928 shares of the company's stock, valued at $1,075,309.20. The trade was a 62.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,724 shares of company stock worth $2,520,032. Insiders own 0.47% of the company's stock.

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.