Man Group plc Sells 315,141 Shares of NetApp, Inc. (NASDAQ:NTAP)

Man Group plc lessened its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 29.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 740,002 shares of the data storage provider's stock after selling 315,141 shares during the quarter. Man Group plc owned about 0.36% of NetApp worth $85,899,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of NetApp by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock worth $3,069,617,000 after purchasing an additional 429,343 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of NetApp by 14.5% during the 4th quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider's stock worth $815,402,000 after purchasing an additional 888,671 shares during the period. Invesco Ltd. increased its holdings in shares of NetApp by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider's stock worth $362,544,000 after purchasing an additional 529,471 shares during the period. Beutel Goodman & Co Ltd. increased its holdings in shares of NetApp by 0.4% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider's stock worth $335,215,000 after purchasing an additional 12,919 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of NetApp by 24.2% during the 4th quarter. Northern Trust Corp now owns 2,824,327 shares of the data storage provider's stock worth $327,848,000 after purchasing an additional 550,607 shares during the period. Institutional investors own 92.17% of the company's stock.

NetApp Price Performance

Shares of NTAP stock traded up $0.71 during trading hours on Friday, reaching $100.53. 1,698,642 shares of the company were exchanged, compared to its average volume of 1,919,271. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The stock's fifty day moving average is $88.80 and its two-hundred day moving average is $108.46. The company has a market cap of $20.45 billion, a price-to-earnings ratio of 18.48, a P/E/G 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 Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays raised shares of NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 target price on the stock in a research note on Wednesday, April 30th. TD Cowen lowered their target price 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. Citigroup upped their target price on shares of NetApp from $90.00 to $105.00 and gave the company a "neutral" rating in a research note on Friday. Susquehanna cut shares of NetApp from a "positive" rating to a "neutral" rating and lowered their target price for the company from $155.00 to $130.00 in a research note on Monday, February 10th. Finally, Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and upped their target price for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, NetApp has an average rating of "Hold" and a consensus price target of $124.07.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,500 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the executive vice president now owns 12,900 shares in the company, valued at $1,194,282. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,224 shares of company stock worth $3,531,872. Corporate 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.