OMERS ADMINISTRATION Corp Reduces Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

OMERS ADMINISTRATION Corp cut its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 21.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,072 shares of the data storage provider's stock after selling 5,251 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in NetApp were worth $2,214,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new stake in NetApp during the 4th quarter worth approximately $26,000. Assetmark Inc. grew its holdings in NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after buying an additional 215 shares in the last quarter. Synergy Investment Management LLC purchased a new stake in NetApp in the 4th quarter valued at $32,000. Itau Unibanco Holding S.A. lifted its stake in NetApp by 929.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock valued at $32,000 after acquiring an additional 251 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in NetApp during the 4th quarter worth $35,000. Institutional investors own 92.17% of the company's stock.

NetApp Price Performance

Shares of NASDAQ NTAP traded up $0.87 during mid-day trading on Monday, reaching $101.40. 1,144,630 shares of the company were exchanged, compared to its average volume of 1,917,973. The stock has a market capitalization of $20.63 billion, a PE ratio of 18.64, a PEG ratio of 2.45 and a beta of 1.40. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The company's 50 day moving average price is $88.80 and its 200 day moving average price is $108.34.

NetApp Announces Dividend

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 $0.52 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.05%. NetApp's dividend payout ratio is 38.52%.

Insider Activity

In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp 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. The trade was a 3.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Cesar Cernuda sold 19,696 shares of NetApp stock in a transaction that occurred on 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 transaction, the president now owns 11,928 shares of the company's stock, valued at $1,075,309.20. The trade was a 62.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 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.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NTAP shares. Citigroup boosted their price target on shares of NetApp from $90.00 to $105.00 and gave the stock a "neutral" rating in a report on Friday. Wells Fargo & Company cut their target price on NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and increased their price target for the company from $121.00 to $128.00 in a research report on Wednesday, February 19th. StockNews.com cut NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Barclays raised NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 target price for the company in a research report on Wednesday, April 30th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $124.07.

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.