NetApp, Inc. (NASDAQ:NTAP) President Cesar Cernuda Sells 19,696 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) President Cesar Cernuda sold 19,696 shares of NetApp stock in a transaction on Friday, March 28th. The shares were sold at an average price of $90.15, for a total value of $1,775,594.40. Following the transaction, the president now owns 11,928 shares of the company’s stock, valued at $1,075,309.20. The trade was a 62.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

NetApp Stock Performance

NTAP opened at $87.84 on Tuesday. The company has a 50 day simple moving average of $109.13 and a two-hundred day simple moving average of $117.06. 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 firm has a market cap of $17.87 billion, a P/E ratio of 16.15, a PEG ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 1-year low of $86.40 and a 1-year high of $135.45.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.37%. NetApp’s payout ratio is presently 38.52%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Loop Capital cut their price target on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. StockNews.com lowered shares of NetApp from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Morgan Stanley upped their target price on shares of NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Citigroup decreased their price objective 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. Twelve research 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.com, the company presently has an average rating of “Hold” and a consensus target price of $129.07.

Institutional Trading of NetApp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of NetApp by 2.1% during the third quarter. FMR LLC now owns 267,785 shares of the data storage provider’s stock valued at $33,074,000 after buying an additional 5,636 shares during the last quarter. Townsquare Capital LLC grew its stake in NetApp by 66.5% during the third quarter. Townsquare Capital LLC now owns 5,989 shares of the data storage provider’s stock valued at $740,000 after acquiring an additional 2,392 shares in the last quarter. Freedom Investment Management Inc. bought a new stake in NetApp in the 3rd quarter valued at $205,000. Public Sector Pension Investment Board lifted its stake in NetApp by 12.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 8,897 shares of the data storage provider’s stock worth $1,099,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of NetApp by 124.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 42,064 shares of the data storage provider’s stock valued at $5,194,000 after purchasing an additional 23,305 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

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.