NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 27.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,117 shares of the data storage provider's stock after selling 5,307 shares during the period. Johnson Financial Group Inc.'s holdings in NetApp were worth $1,724,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NTAP. Barclays PLC grew its stake in NetApp by 31.4% in the third quarter. Barclays PLC now owns 784,339 shares of the data storage provider's stock valued at $96,873,000 after purchasing an additional 187,638 shares during the last quarter. World Investment Advisors LLC grew its position in shares of NetApp by 6.1% in the 3rd quarter. World Investment Advisors LLC now owns 7,998 shares of the data storage provider's stock worth $988,000 after buying an additional 459 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of NetApp during the 3rd quarter worth approximately $160,000. Tidal Investments LLC boosted its stake in NetApp by 343.1% in the third quarter. Tidal Investments LLC now owns 227,933 shares of the data storage provider's stock valued at $28,152,000 after acquiring an additional 176,495 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in NetApp by 19.6% in the third quarter. Franklin Resources Inc. now owns 433,616 shares of the data storage provider's stock worth $55,009,000 after purchasing an additional 71,165 shares during the last quarter. Institutional investors own 92.17% of the company's stock.

NetApp Stock Performance

Shares of NASDAQ:NTAP traded down $0.02 during trading on Thursday, reaching $89.73. The company had a trading volume of 1,386,166 shares, compared to its average volume of 1,930,235. 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 stock's fifty day moving average price is $90.71 and its 200 day moving average price is $110.74. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The firm has a market capitalization of $18.25 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.32%. NetApp's dividend payout ratio is currently 38.52%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NTAP shares. Barclays raised NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 price target for the company in a report on Wednesday. Wedbush restated a "neutral" rating and set a $110.00 price target (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped their price objective on shares of NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company reduced their target price on NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Finally, Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, NetApp has an average rating of "Hold" and a consensus price target of $123.07.

Insider Activity

In other news, President Cesar Cernuda sold 19,696 shares of the company's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $90.15, for a total value of $1,775,594.40. Following the completion of the sale, the president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael J. Berry sold 12,500 shares of the business's stock in a transaction that occurred on 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 directly owns 123,243 shares in the company, valued at $14,880,359.82. This trade represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,176 shares of company stock valued at $5,095,701 over the last 90 days. 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.