Natixis Has $4.52 Million Stake in NetApp, Inc. (NASDAQ:NTAP)

Natixis reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 66.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,927 shares of the data storage provider's stock after selling 77,794 shares during the quarter. Natixis' holdings in NetApp were worth $4,519,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norinchukin Bank The lifted its holdings in shares of NetApp by 7.3% in the fourth quarter. Norinchukin Bank The now owns 8,966 shares of the data storage provider's stock valued at $1,041,000 after purchasing an additional 613 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of NetApp by 81.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 329,414 shares of the data storage provider's stock valued at $38,238,000 after purchasing an additional 147,465 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NetApp by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,971,899 shares of the data storage provider's stock valued at $228,907,000 after purchasing an additional 103,698 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of NetApp by 8.4% in the fourth quarter. First Trust Advisors LP now owns 1,744,058 shares of the data storage provider's stock valued at $202,450,000 after purchasing an additional 135,751 shares in the last quarter. Finally, Freedom Investment Management Inc. lifted its holdings in shares of NetApp by 31.1% in the fourth quarter. Freedom Investment Management Inc. now owns 2,171 shares of the data storage provider's stock valued at $252,000 after purchasing an additional 515 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $81.83, for a total value of $695,555.00. Following the completion of the sale, the chief executive officer now directly owns 249,765 shares of the company's stock, valued at approximately $20,438,269.95. This represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael J. Berry sold 12,500 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total value of $1,509,250.00. Following the completion of the sale, the chief financial officer now directly owns 123,243 shares of the company's stock, valued at $14,880,359.82. This represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,176 shares of company stock valued at $5,095,701 over the last 90 days. 0.47% of the stock is currently owned by company insiders.

NetApp Stock Up 0.3 %

Shares of NASDAQ NTAP traded up $0.28 during trading hours on Friday, hitting $88.45. The stock had a trading volume of 1,699,069 shares, compared to its average volume of 1,928,929. The company has a market capitalization of $17.99 billion, a P/E ratio of 16.26, a P/E/G ratio of 2.45 and a beta of 1.31. The firm's 50-day moving average price is $92.87 and its two-hundred day moving average price is $111.31. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders 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 yield of 2.35%. NetApp's payout ratio is currently 38.52%.

Analyst Ratings Changes

Several equities analysts recently issued reports on NTAP shares. Loop Capital reduced their price objective on shares of NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods raised shares of NetApp to an "outperform" rating in a research note on Wednesday, February 19th. Wedbush reissued a "neutral" rating and set a $110.00 price objective (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Citigroup reduced their price objective on shares of NetApp from $110.00 to $90.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Susquehanna downgraded shares of 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. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $125.07.

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.