Worldquant Millennium Advisors LLC Sells 9,232 Shares of NetApp, Inc. (NASDAQ:NTAP)

Worldquant Millennium Advisors LLC trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 37.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,191 shares of the data storage provider's stock after selling 9,232 shares during the period. Worldquant Millennium Advisors LLC's holdings in NetApp were worth $1,763,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTAP. Woodline Partners LP acquired a new stake in NetApp in the 4th quarter valued at about $17,991,000. Zurich Insurance Group Ltd FI acquired a new stake in NetApp in the 4th quarter valued at about $1,660,000. iSAM Funds UK Ltd acquired a new stake in shares of NetApp during the 4th quarter worth approximately $346,000. Sovereign s Capital Management LLC acquired a new stake in shares of NetApp during the 4th quarter worth approximately $452,000. Finally, Tidal Investments LLC grew its position in shares of NetApp by 7.0% during the 4th quarter. Tidal Investments LLC now owns 243,863 shares of the data storage provider's stock worth $28,308,000 after buying an additional 15,930 shares during the period. 92.17% of the stock is owned by institutional investors.

Insider Transactions at NetApp

In other NetApp news, President Cesar Cernuda sold 19,696 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction 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. This represents a 62.28% 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, 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 owns 249,765 shares in the company, valued at approximately $20,438,269.95. This represents a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,724 shares of company stock worth $2,520,032 in the last ninety days. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NTAP. Wall Street Zen lowered shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Wedbush reissued a "neutral" rating and set a $110.00 price objective (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Keefe, Bruyette & Woods raised shares of NetApp to an "outperform" rating in a research note on Wednesday, February 19th. TD Cowen cut their price target on shares of NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, Loop Capital cut their price target 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $121.40.

NetApp Price Performance

NetApp stock traded down $0.13 during trading hours on Wednesday, reaching $100.24. 384,569 shares of the stock were exchanged, compared to its average volume of 1,918,401. The company has a market cap of $20.39 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The stock has a 50 day moving average of $89.88 and a two-hundred day moving average of $107.46.

NetApp Announces Dividend

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

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.