Two Sigma Advisers LP Sells 262,000 Shares of NetApp, Inc. (NASDAQ:NTAP)

Two Sigma Advisers LP cut its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 80.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,102 shares of the data storage provider's stock after selling 262,000 shares during the period. Two Sigma Advisers LP's holdings in NetApp were worth $7,209,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. M&T Bank Corp raised its stake in shares of NetApp by 4.8% in the 4th quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider's stock worth $1,485,000 after buying an additional 581 shares in the last quarter. Versor Investments LP acquired a new position in NetApp during the fourth quarter worth about $395,000. AMJ Financial Wealth Management lifted its holdings in NetApp by 120.7% in the 4th quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider's stock valued at $7,998,000 after acquiring an additional 37,684 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of NetApp by 9.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider's stock valued at $156,268,000 after purchasing an additional 113,360 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of NetApp in the 4th quarter worth approximately $5,151,000. Institutional investors and hedge funds own 92.17% of the company's stock.

NetApp Stock Up 2.4%

NTAP stock traded up $2.37 during midday trading on Tuesday, hitting $100.37. The company's stock had a trading volume of 2,135,477 shares, compared to its average volume of 1,924,395. The company's fifty day moving average price is $89.71 and its 200 day moving average price is $107.51. 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, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The stock has a market capitalization of $20.42 billion, a P/E ratio of 18.45, a PEG ratio of 2.45 and a beta of 1.40.

NetApp Dividend Announcement

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

Insiders Place Their Bets

In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total transaction of $695,555.00. Following the completion of the transaction, the chief executive officer now directly owns 249,765 shares of the company's stock, valued at $20,438,269.95. The trade was a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 528 shares of NetApp stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $92.58, for a total transaction of $48,882.24. Following the sale, the executive vice president now directly owns 12,900 shares of the company's stock, valued at $1,194,282. The trade was a 3.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,724 shares of company stock valued at $2,520,032. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on NTAP shares. Evercore ISI cut their price objective on NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods raised shares of NetApp to an "outperform" rating in a report on Wednesday, February 19th. Barclays raised shares of NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 price target for the company in a research note on Wednesday, April 30th. 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. Finally, Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $121.40.

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.