Citizens Financial Group Inc. RI Has $6.59 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Citizens Financial Group Inc. RI trimmed its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,753 shares of the data storage provider’s stock after selling 877 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in NetApp were worth $6,588,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

NTAP has been the subject of several research reports. Wedbush reissued a “neutral” rating and set a $110.00 price objective (down previously from $120.00) on shares of NetApp in a research report on Friday, February 28th. Morgan Stanley upped their target price 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. Loop Capital dropped their price target on NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded NetApp from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $129.07.

NetApp Stock Performance

Shares of NTAP opened at $90.92 on Wednesday. The company has a market cap of $18.49 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The firm has a 50-day moving average of $116.44 and a 200-day moving average of $119.89. NetApp, Inc. has a one year low of $90.08 and a one year high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Friday, April 4th. NetApp’s payout ratio is currently 38.52%.

Insiders Place Their Bets

In other news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the completion of the transaction, the chief executive officer now directly owns 279,782 shares in the company, valued at approximately $34,774,104.78. The trade was a 2.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Cesar Cernuda sold 22,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the sale, the president now owns 27,099 shares in the company, valued at approximately $3,116,114.01. This trade represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,431 shares of company stock valued at $7,309,224 over the last 90 days. 0.47% of the stock is currently owned by 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.