United Capital Financial Advisors LLC Sells 302 Shares of NetApp, Inc. (NASDAQ:NTAP)

United Capital Financial Advisors LLC decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,547 shares of the data storage provider’s stock after selling 302 shares during the period. United Capital Financial Advisors LLC’s holdings in NetApp were worth $528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. M&T Bank Corp boosted its holdings in NetApp by 4.8% in the 4th quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock worth $1,485,000 after buying an additional 581 shares during the period. Versor Investments LP bought a new position in shares of NetApp in the fourth quarter worth about $395,000. AMJ Financial Wealth Management grew its position in shares of NetApp by 120.7% during the fourth quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider’s stock worth $7,998,000 after purchasing an additional 37,684 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in NetApp by 9.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock valued at $156,268,000 after purchasing an additional 113,360 shares during the period. Finally, Brandywine Global Investment Management LLC purchased a new position in NetApp in the 4th quarter worth approximately $5,151,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NetApp

In other news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $123.03, for a total value of $1,045,755.00. Following the sale, the chief executive officer now directly owns 271,282 shares in the company, valued at approximately $33,375,824.46. This trade represents a 3.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 19,696 shares of NetApp stock in a transaction on Friday, March 28th. The stock was sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the transaction, the president now directly owns 11,928 shares in the company, valued at $1,075,309.20. This represents a 62.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,176 shares of company stock valued at $5,445,901 in the last three months. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NTAP shares. TD Cowen cut their price objective on shares of NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, February 28th. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Barclays cut their price objective on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, Wedbush reiterated a “neutral” rating and issued a $110.00 target price (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, NetApp has an average rating of “Hold” and an average price target of $125.07.

NetApp Price Performance

NetApp stock opened at $82.61 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.84 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 firm has a market capitalization of $16.80 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. The firm has a 50-day moving average price of $96.24 and a 200-day moving average price of $112.72.

NetApp Announces Dividend

The firm 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 dividend of $0.52 per share. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.52%. NetApp’s dividend payout ratio (DPR) is 38.52%.

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.