NetApp, Inc. $NTAP Shares Sold by Jump Financial LLC

Jump Financial LLC decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 54.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,127 shares of the data storage provider’s stock after selling 5,027 shares during the quarter. Jump Financial LLC’s holdings in NetApp were worth $363,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NTAP. Schonfeld Strategic Advisors LLC boosted its stake in shares of NetApp by 52.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 11,960 shares of the data storage provider’s stock worth $1,388,000 after buying an additional 4,118 shares during the period. Aptus Capital Advisors LLC acquired a new stake in shares of NetApp during the fourth quarter worth about $247,000. Bayesian Capital Management LP acquired a new stake in NetApp in the fourth quarter valued at about $975,000. Baird Financial Group Inc. lifted its position in NetApp by 28.4% in the fourth quarter. Baird Financial Group Inc. now owns 13,090 shares of the data storage provider’s stock valued at $1,519,000 after purchasing an additional 2,894 shares during the period. Finally, Captrust Financial Advisors lifted its position in NetApp by 5.6% in the fourth quarter. Captrust Financial Advisors now owns 28,654 shares of the data storage provider’s stock valued at $3,326,000 after purchasing an additional 1,513 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Price Performance

NTAP stock opened at $115.37 on Wednesday. The firm has a 50 day moving average of $107.12 and a 200-day moving average of $100.01. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 2.55. The company has a market cap of $23.03 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 2.48 and a beta of 1.46.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is 36.75%.

Insider Buying and Selling

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $105.90, for a total transaction of $105,900.00. Following the completion of the transaction, the executive vice president directly owned 23,251 shares of the company’s stock, valued at $2,462,280.90. This trade represents a 4.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $101.78, for a total transaction of $865,130.00. Following the transaction, the chief executive officer directly owned 296,805 shares of the company’s stock, valued at approximately $30,208,812.90. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,500 shares of company stock valued at $2,921,775. Corporate insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on NTAP. Wells Fargo & Company reduced their price objective on shares of NetApp from $115.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday, May 30th. Citigroup raised their price objective on shares of NetApp from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, August 11th. Morgan Stanley set a $117.00 price objective on shares of NetApp in a research report on Thursday, August 28th. Barclays raised their price objective on shares of NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, Argus restated a “buy” rating and issued a $130.00 price objective on shares of NetApp in a research report on Friday, August 29th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $124.07.

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.