NetApp, Inc. (NASDAQ:NTAP) Stake Reduced by Graham Capital Management L.P.

Graham Capital Management L.P. lowered its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 61.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,215 shares of the data storage provider's stock after selling 16,621 shares during the quarter. Graham Capital Management L.P.'s holdings in NetApp were worth $1,186,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Resonant Capital Advisors LLC lifted its stake in shares of NetApp by 1.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock valued at $516,000 after purchasing an additional 80 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of NetApp by 2.5% in the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after purchasing an additional 92 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of NetApp by 22.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock valued at $64,000 after purchasing an additional 100 shares in the last quarter. Moors & Cabot Inc. lifted its stake in shares of NetApp by 3.6% in the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock valued at $337,000 after purchasing an additional 100 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted its stake in shares of NetApp by 50.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

Analyst Upgrades and Downgrades

NTAP has been the topic of several research analyst reports. Susquehanna lowered NetApp from a "positive" rating to a "neutral" rating and reduced their price objective for the company from $155.00 to $130.00 in a research note on Monday, February 10th. Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a research report on Wednesday, February 19th. Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Barclays raised NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 price target on the stock in a research report on Wednesday, April 30th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $123.07.

NetApp Stock Performance

Shares of NTAP stock traded up $0.17 on Thursday, hitting $99.82. 1,894,379 shares of the stock traded hands, compared to its average volume of 1,918,656. 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 has a market capitalization of $20.30 billion, a PE ratio of 18.35, a PEG ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The company's fifty day moving average is $88.46 and its 200 day moving average is $108.74.

NetApp Announces Dividend

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

Insider Activity at NetApp

In related news, CEO George Kurian sold 8,500 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the sale, the chief executive officer now directly owns 266,765 shares of the company's stock, valued at approximately $31,755,705.60. This represents a 3.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anders Gustafsson acquired 2,800 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average price of $91.00 per share, with a total value of $254,800.00. Following the completion of the purchase, the director now owns 6,348 shares in the company, valued at $577,668. The trade was a 78.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 37,224 shares of company stock valued at $3,531,872. Corporate insiders own 0.47% of the company's stock.

NetApp Company 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.