Barclays PLC Sells 47,682 Shares of NetApp, Inc. (NASDAQ:NTAP)

Barclays PLC trimmed its stake in NetApp, Inc. (NASDAQ:NTAP) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 736,657 shares of the data storage provider’s stock after selling 47,682 shares during the quarter. Barclays PLC owned about 0.36% of NetApp worth $85,510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Orion Portfolio Solutions LLC increased its position in NetApp by 232.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider’s stock valued at $831,000 after buying an additional 4,705 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of NetApp by 73.1% during the third quarter. Sanctuary Advisors LLC now owns 7,608 shares of the data storage provider’s stock valued at $931,000 after acquiring an additional 3,213 shares in the last quarter. World Investment Advisors LLC raised its position in shares of NetApp by 6.1% during the third quarter. World Investment Advisors LLC now owns 7,998 shares of the data storage provider’s stock worth $988,000 after purchasing an additional 459 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of NetApp in the 3rd quarter worth $160,000. Finally, Tidal Investments LLC grew its position in NetApp by 343.1% in the 3rd quarter. Tidal Investments LLC now owns 227,933 shares of the data storage provider’s stock valued at $28,152,000 after purchasing an additional 176,495 shares during the period. 92.17% of the stock is owned by institutional investors.

NetApp Stock Performance

NASDAQ:NTAP opened at $82.18 on Wednesday. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. 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 business has a fifty day simple moving average of $98.62 and a two-hundred day simple moving average of $113.63. The company has a market capitalization of $16.72 billion, a P/E ratio of 15.11, a P/E/G ratio of 2.45 and a beta of 1.31.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Friday, April 4th. NetApp’s dividend payout ratio is currently 38.52%.

Insider Buying and Selling at NetApp

In related news, President Cesar Cernuda sold 19,696 shares of the company’s stock in a transaction that occurred on 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 sale, the president now directly owns 11,928 shares in the company, valued at approximately $1,075,309.20. This represents a 62.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Anders Gustafsson acquired 2,800 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average cost of $91.00 per share, with a total value of $254,800.00. Following the completion of the acquisition, the director now owns 6,348 shares in the company, valued at $577,668. This trade represents a 78.92 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 50,176 shares of company stock valued at $5,445,901 over the last three months. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NTAP shares. Wedbush reaffirmed a “neutral” rating and issued a $110.00 price objective (down from $120.00) on shares of NetApp in a research note on Friday, February 28th. Barclays dropped their price target on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Susquehanna lowered NetApp from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Loop Capital dropped their target price on NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. decreased their price target on NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $127.73.

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.