Amalgamated Bank Lowers Position in NetApp, Inc. (NASDAQ:NTAP)

Amalgamated Bank cut its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,564 shares of the data storage provider’s stock after selling 849 shares during the quarter. Amalgamated Bank’s holdings in NetApp were worth $4,941,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC boosted its holdings in shares of NetApp by 8.9% during the 3rd quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock valued at $37,301,000 after buying an additional 24,651 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in NetApp by 20.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock valued at $5,225,000 after acquiring an additional 7,318 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in NetApp by 9.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock worth $156,268,000 after acquiring an additional 113,360 shares in the last quarter. Hilton Capital Management LLC purchased a new stake in NetApp in the third quarter worth about $4,059,000. Finally, Orion Portfolio Solutions LLC increased its stake in shares of NetApp by 232.2% during the third quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider’s stock valued at $831,000 after purchasing an additional 4,705 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. TD Cowen boosted their price target on NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Oppenheimer started coverage on NetApp in a report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a report on Wednesday, February 19th. Morgan Stanley upped their price target on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company reduced their price objective on shares of NetApp from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday, February 20th. 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of $137.33.

NetApp Price Performance

Shares of NTAP opened at $118.22 on Friday. The firm has a fifty day simple moving average of $120.22 and a two-hundred day simple moving average of $122.02. The firm has a market cap of $24.03 billion, a PE ratio of 21.73, a P/E/G ratio of 2.45 and a beta of 1.23. 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 1-year low of $86.43 and a 1-year high of $135.45.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.76%. NetApp’s payout ratio is 38.24%.

Insider Buying and Selling at NetApp

In other news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Monday, December 16th. The shares were sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the transaction, the chief executive officer now owns 279,782 shares in the company, valued at $34,774,104.78. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael J. Berry sold 12,500 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the sale, the chief financial officer now directly owns 123,243 shares of the company’s stock, valued at approximately $14,880,359.82. The trade was a 9.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,903 shares of company stock worth $7,260,341 in the last three months. 0.47% of the stock is currently owned by company insiders.

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.