Brown Brothers Harriman & Co. Has $465,000 Stake in NetApp, Inc. (NASDAQ:NTAP)

Brown Brothers Harriman & Co. decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,005 shares of the data storage provider’s stock after selling 323 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in NetApp were worth $465,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of NetApp during the fourth quarter valued at approximately $26,000. Assetmark Inc. raised its position in NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 215 shares during the last quarter. Synergy Investment Management LLC acquired a new position in NetApp during the 4th quarter worth $32,000. Golden State Wealth Management LLC bought a new position in NetApp in the 4th quarter valued at $35,000. Finally, OFI Invest Asset Management acquired a new stake in shares of NetApp in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

NTAP has been the topic of several research reports. Wedbush reaffirmed a “neutral” rating and set a $110.00 price target (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Loop Capital reduced their target price on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Barclays lowered their price target on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Susquehanna lowered shares of NetApp from a “positive” rating to a “neutral” rating and cut their price objective for the company from $155.00 to $130.00 in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $129.07.

NetApp Price Performance

NTAP stock opened at $87.84 on Tuesday. The stock has a 50-day moving average price of $109.13 and a two-hundred day moving average price of $117.06. NetApp, Inc. has a 1 year low of $86.40 and a 1 year high of $135.45. The stock has a market cap of $17.87 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. 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 Announces Dividend

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 given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.37%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Insider Transactions at NetApp

In other news, Director Anders Gustafsson bought 2,800 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were bought at an average cost of $91.00 per share, with a total value of $254,800.00. Following the acquisition, the director now owns 6,348 shares in the company, valued at $577,668. This trade represents a 78.92 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Cesar Cernuda sold 19,696 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the president now owns 11,928 shares in the company, valued at $1,075,309.20. This represents a 62.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,627 shares of company stock worth $5,498,573 in the last three months. Insiders own 0.47% 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.