PDT Partners LLC Sells 14,716 Shares of NetApp, Inc. (NASDAQ:NTAP)

PDT Partners LLC trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 72.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,726 shares of the data storage provider's stock after selling 14,716 shares during the quarter. PDT Partners LLC's holdings in NetApp were worth $665,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of NetApp in the fourth quarter valued at $26,000. Assetmark Inc. lifted its stake in NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after acquiring an additional 215 shares during the last quarter. Synergy Investment Management LLC bought a new position in shares of NetApp in the 4th quarter valued at about $32,000. Golden State Wealth Management LLC bought a new position in shares of NetApp in the 4th quarter valued at about $35,000. Finally, Coppell Advisory Solutions LLC increased its stake in shares of NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock worth $35,000 after purchasing an additional 100 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen reduced their price target on NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 28th. Citigroup decreased 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. Loop Capital dropped their target price on NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Susquehanna downgraded shares of NetApp from a "positive" rating to a "neutral" rating and decreased their price target for the company from $155.00 to $130.00 in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $123.07.

Insider Activity

In related news, CFO Michael J. Berry sold 12,500 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 123,243 shares of the company's stock, valued at $14,880,359.82. The trade was a 9.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated 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 transaction, the chief executive officer now directly owns 249,765 shares of the company's stock, valued at approximately $20,438,269.95. This trade represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,176 shares of company stock worth $5,095,701. Insiders own 0.47% of the company's stock.

NetApp Price Performance

Shares of NetApp stock traded up $2.60 during midday trading on Friday, hitting $92.33. 1,528,425 shares of the company traded hands, compared to its average volume of 1,933,112. The stock has a market cap of $18.78 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 2.45 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The firm's fifty day moving average price is $89.43 and its 200-day moving average price is $110.03. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.25%. NetApp's dividend payout ratio (DPR) is presently 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.