NetApp, Inc. (NASDAQ:NTAP) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,938 shares of the data storage provider’s stock after selling 2,831 shares during the period. New York State Teachers Retirement System owned 0.11% of NetApp worth $25,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in NetApp during the fourth quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in shares of NetApp in the 3rd quarter valued at $27,000. Golden State Wealth Management LLC purchased a new position in shares of NetApp in the 4th quarter valued at $35,000. True Wealth Design LLC raised its stake in NetApp by 2,833.3% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after acquiring an additional 340 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in NetApp in the third quarter valued at $44,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 452 shares of NetApp stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $120.75, for a total transaction of $54,579.00. Following the completion of the sale, the executive vice president now directly owns 11,553 shares in the company, valued at $1,395,024.75. The trade was a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Lorenzo Daniel De sold 326 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $117.44, for a total transaction of $38,285.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,562 shares of company stock valued at $7,687,180. Corporate insiders own 0.47% of the company’s stock.

NetApp Trading Up 1.1 %

NASDAQ:NTAP opened at $119.06 on Friday. NetApp, Inc. has a 52-week low of $83.80 and a 52-week high of $135.45. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The stock has a fifty day simple moving average of $120.19 and a 200-day simple moving average of $121.88. The company has a market capitalization of $24.21 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 2.94 and a beta of 1.23.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 earnings per share. On average, equities research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Friday, January 3rd. NetApp’s dividend payout ratio (DPR) is presently 38.24%.

Analysts Set New Price Targets

Several analysts have recently weighed in on NTAP shares. Bank of America boosted their target price on NetApp from $115.00 to $121.00 and gave the company an “underperform” rating in a report on Friday, November 22nd. Stifel Nicolaus increased their target price on shares of NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Susquehanna cut NetApp from a “positive” rating to a “neutral” rating and dropped their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Wedbush reaffirmed a “neutral” rating and set a $120.00 price objective on shares of NetApp in a research report on Friday, November 22nd. Finally, Morgan Stanley boosted their target price on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $137.53.

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.