Guggenheim Capital LLC Sells 34,766 Shares of NetApp, Inc. (NASDAQ:NTAP)

Guggenheim Capital LLC trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 78.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,758 shares of the data storage provider's stock after selling 34,766 shares during the quarter. Guggenheim Capital LLC's holdings in NetApp were worth $1,133,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Resonant Capital Advisors LLC boosted its position in NetApp by 1.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock worth $516,000 after acquiring an additional 80 shares during the last quarter. Larson Financial Group LLC boosted its position in NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock worth $438,000 after acquiring an additional 92 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock worth $64,000 after acquiring an additional 100 shares during the last quarter. Moors & Cabot Inc. boosted its position in NetApp by 3.6% during the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock worth $337,000 after acquiring an additional 100 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of NetApp by 2.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock valued at $534,000 after buying an additional 111 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on NTAP. JPMorgan Chase & Co. cut their price objective on NetApp from $153.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Evercore ISI cut their price objective on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a report on Monday. Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a report on Wednesday, February 19th. TD Cowen cut their price objective on NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, StockNews.com downgraded NetApp from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $123.07.

NetApp Price Performance

Shares of NASDAQ NTAP traded down $0.45 during mid-day trading on Monday, reaching $88.00. The company had a trading volume of 1,383,702 shares, compared to its average volume of 1,926,748. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The firm has a market cap of $17.90 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 2.45 and a beta of 1.31. The business's 50-day simple moving average is $92.14 and its 200 day simple moving average is $111.04.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Friday, April 4th. NetApp's payout ratio is currently 38.52%.

Insider Buying and Selling

In other NetApp news, CFO Michael J. Berry sold 12,500 shares of NetApp stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total value of $1,509,250.00. Following the transaction, the chief financial officer now owns 123,243 shares in the company, valued at $14,880,359.82. The trade was a 9.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO George Kurian sold 8,500 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $81.83, for a total value of $695,555.00. Following the transaction, the chief executive officer now directly owns 249,765 shares of the company's stock, valued at approximately $20,438,269.95. The trade was a 3.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,176 shares of company stock worth $5,095,701. Company 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.