Centiva Capital LP Has $435,000 Stake in NetApp, Inc. (NASDAQ:NTAP)

Centiva Capital LP lessened its position in NetApp, Inc. (NASDAQ:NTAP) by 39.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,747 shares of the data storage provider’s stock after selling 2,478 shares during the period. Centiva Capital LP’s holdings in NetApp were worth $435,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in NetApp by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider’s stock worth $3,069,617,000 after buying an additional 429,343 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of NetApp by 14.5% during the 4th quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider’s stock worth $815,402,000 after acquiring an additional 888,671 shares during the period. Invesco Ltd. increased its holdings in shares of NetApp by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider’s stock worth $362,544,000 after acquiring an additional 529,471 shares during the last quarter. Beutel Goodman & Co Ltd. raised its stake in NetApp by 0.4% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider’s stock valued at $335,215,000 after acquiring an additional 12,919 shares during the period. Finally, Northern Trust Corp lifted its holdings in NetApp by 24.2% during the 4th quarter. Northern Trust Corp now owns 2,824,327 shares of the data storage provider’s stock valued at $327,848,000 after purchasing an additional 550,607 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NTAP. JPMorgan Chase & Co. dropped their price objective on shares of NetApp from $153.00 to $113.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Keefe, Bruyette & Woods raised shares of NetApp to an “outperform” rating in a report on Wednesday, February 19th. TD Cowen reduced their price objective on NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, February 28th. Evercore ISI decreased their target price on NetApp from $120.00 to $100.00 and set an “in-line” rating on the stock in a research report on Monday, April 28th. Finally, Citigroup dropped their price target on NetApp from $110.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, NetApp has an average rating of “Hold” and an average target price of $123.07.

Insiders Place Their Bets

In other news, Director Anders Gustafsson bought 2,800 shares of the stock in a transaction on Thursday, March 27th. The stock was acquired at an average price of $91.00 per share, with a total value of $254,800.00. Following the acquisition, the director now directly owns 6,348 shares in the company, valued at approximately $577,668. This trade represents a 78.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the completion of the transaction, the chief executive officer now owns 249,765 shares of the company’s stock, valued at $20,438,269.95. This represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,676 shares of company stock worth $3,586,451 over the last three months. Insiders own 0.47% of the company’s stock.

NetApp Price Performance

NTAP stock opened at $93.44 on Friday. The company’s 50-day moving average price is $88.11 and its two-hundred day moving average price is $109.09. The firm has a market cap of $19.01 billion, a P/E ratio of 17.18, a P/E/G ratio of 2.45 and a beta of 1.40. The company has a quick ratio of 0.84, a current ratio of 0.91 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.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.23%. NetApp’s dividend payout ratio is currently 38.52%.

NetApp 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.