Neuberger Berman Group LLC Trims Holdings in NetApp, Inc. (NASDAQ:NTAP)

Neuberger Berman Group LLC lowered its position in NetApp, Inc. (NASDAQ:NTAP) by 12.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 328,420 shares of the data storage provider’s stock after selling 44,974 shares during the period. Neuberger Berman Group LLC owned approximately 0.16% of NetApp worth $38,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of NTAP. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in NetApp during the 4th quarter valued at approximately $26,000. Assetmark Inc. raised its holdings in shares of 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 purchasing an additional 215 shares during the last quarter. Synergy Investment Management LLC acquired a new position in NetApp during the fourth quarter valued at $32,000. Golden State Wealth Management LLC purchased a new stake in NetApp in the fourth quarter valued at $35,000. Finally, OFI Invest Asset Management purchased a new stake in NetApp in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Transactions at NetApp

In other NetApp news, Director Anders Gustafsson purchased 2,800 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were purchased at an average cost of $91.00 per share, with a total value of $254,800.00. Following the completion of the purchase, the director now owns 6,348 shares in the company, valued at approximately $577,668. This represents a 78.92 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Michael J. Berry sold 12,500 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the transaction, the chief financial officer now owns 123,243 shares in the company, valued at $14,880,359.82. The trade was a 9.21 % 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 valued at $5,445,901 over the last ninety days. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays decreased their price objective on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. TD Cowen decreased 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. JPMorgan Chase & Co. lowered their price objective on NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Citigroup cut their target price on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $129.07.

NetApp Stock Down 4.4 %

NTAP opened at $82.28 on Friday. The company has a market cap of $16.74 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The company has a 50-day moving average price of $101.04 and a 200 day moving average price of $114.46. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be given a $0.52 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.53%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

NetApp Company 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.