Ossiam Sells 5,314 Shares of NetApp, Inc. (NASDAQ:NTAP)

Ossiam lowered its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 38.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,615 shares of the data storage provider's stock after selling 5,314 shares during the period. Ossiam's holdings in NetApp were worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Resonant Capital Advisors LLC lifted its holdings in shares of NetApp by 1.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock valued at $516,000 after purchasing an additional 80 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after purchasing an additional 92 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock valued at $64,000 after purchasing an additional 100 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of NetApp by 3.6% during the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock valued at $337,000 after purchasing an additional 100 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of NetApp by 2.5% during 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 purchasing an additional 111 shares in the last quarter. Institutional investors own 92.17% of the company's stock.

Insiders Place Their Bets

In related news, President Cesar Cernuda sold 19,696 shares of the firm's stock in a transaction dated 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 directly owns 11,928 shares of the company's stock, valued at approximately $1,075,309.20. This trade represents a 62.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 266,765 shares in the company, valued at approximately $31,755,705.60. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,176 shares of company stock worth $5,095,701 in the last 90 days. Company insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NTAP shares. Citigroup cut their price objective on NetApp from $110.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. StockNews.com lowered NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. TD Cowen dropped their target price on NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Wedbush reissued a "neutral" rating and issued a $110.00 target price (down previously from $120.00) on shares of NetApp in a research report on Friday, February 28th. Finally, Loop Capital dropped their target price on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $125.07.

NetApp Stock Performance

Shares of NASDAQ NTAP traded up $0.28 during midday trading on Friday, hitting $88.45. 1,699,069 shares of the company's stock were exchanged, compared to its average volume of 1,928,929. 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 12 month low of $71.84 and a 12 month high of $135.45. The company's 50 day moving average price is $92.87 and its 200 day moving average price is $111.31. The firm has a market capitalization of $17.99 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Friday, April 4th. NetApp's dividend payout ratio is 38.52%.

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.