Flinton Capital Management LLC reduced its stake in NetApp Inc. (NASDAQ:NTAP) by 30.1% during the 4th quarter, Holdings Channel reports. The fund owned 232,656 shares of the data storage provider’s stock after selling 99,968 shares during the quarter. Flinton Capital Management LLC’s holdings in NetApp were worth $12,871,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of NTAP. Raymond James Financial Services Advisors Inc. acquired a new position in shares of NetApp in the 3rd quarter worth approximately $1,179,000. Victory Capital Management Inc. lifted its holdings in shares of NetApp by 1,834.0% in the 3rd quarter. Victory Capital Management Inc. now owns 90,279 shares of the data storage provider’s stock worth $3,951,000 after acquiring an additional 85,611 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of NetApp by 6.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 41,969 shares of the data storage provider’s stock worth $1,837,000 after acquiring an additional 2,412 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in shares of NetApp in the 3rd quarter worth approximately $279,000. Finally, State of Wisconsin Investment Board lifted its holdings in shares of NetApp by 3.6% in the 3rd quarter. State of Wisconsin Investment Board now owns 344,667 shares of the data storage provider’s stock worth $15,083,000 after acquiring an additional 11,898 shares during the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.
Shares of NetApp Inc. (NASDAQ NTAP) opened at $64.53 on Tuesday. NetApp Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $65.44. The firm has a market cap of $17,484.64, a price-to-earnings ratio of 23.39, a PEG ratio of 2.08 and a beta of 1.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.91 and a quick ratio of 1.88.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Friday, April 6th will be issued a $0.20 dividend. The ex-dividend date is Thursday, April 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. NetApp’s payout ratio is -1,000.00%.
Several equities analysts have recently commented on NTAP shares. Zacks Investment Research upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Tuesday, February 6th. Pivotal Research set a $62.00 price objective on shares of NetApp and gave the stock a “hold” rating in a report on Wednesday, February 28th. ValuEngine upgraded shares of NetApp from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. DA Davidson lowered shares of NetApp from a “buy” rating to a “neutral” rating and increased their target price for the stock from $56.00 to $64.00 in a report on Tuesday, January 23rd. Finally, BMO Capital Markets upgraded shares of NetApp from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $43.00 to $62.00 in a report on Thursday, November 16th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $56.23.
In related news, CEO George Kurian sold 3,826 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $63.01, for a total value of $241,076.26. Following the transaction, the chief executive officer now directly owns 20,637 shares of the company’s stock, valued at approximately $1,300,337.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Joel D. Reich sold 11,641 shares of the stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $60.02, for a total transaction of $698,692.82. The disclosure for this sale can be found here. Insiders sold a total of 63,027 shares of company stock worth $3,653,425 over the last ninety days. Insiders own 0.47% of the company’s stock.
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp Inc. (NASDAQ:NTAP).
Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.