NetApp, Inc. (NASDAQ:NTAP) Shares Sold by V Square Quantitative Management LLC

V Square Quantitative Management LLC trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,998 shares of the data storage provider’s stock after selling 110 shares during the period. V Square Quantitative Management LLC’s holdings in NetApp were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NTAP. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in NetApp during the 4th quarter worth $26,000. Northwest Investment Counselors LLC purchased a new stake in NetApp during the 3rd quarter worth $27,000. Golden State Wealth Management LLC purchased a new stake in NetApp during the 4th quarter worth $35,000. True Wealth Design LLC boosted its position 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 purchasing an additional 340 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in NetApp during the 3rd quarter worth $44,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 326 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $117.44, for a total value of $38,285.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares of the company’s stock, 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 64,562 shares of company stock worth $7,687,180 over the last quarter. 0.47% of the stock is owned by company insiders.

NetApp Stock Performance

Shares of NetApp stock opened at $119.06 on Friday. The firm has a market cap 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. The firm’s 50-day simple moving average is $120.19 and its 200-day simple moving average is $121.88. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. NetApp, Inc. has a 1 year low of $83.80 and a 1 year high of $135.45.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.09. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. NetApp’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. Equities analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup upped their price target on shares of NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus upped their price objective on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. TD Cowen upped their price objective on shares of NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Wedbush reissued a “neutral” rating and issued a $120.00 price objective on shares of NetApp in a research report on Friday, November 22nd. Finally, StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, NetApp presently has a consensus rating of “Hold” and a consensus price target of $137.53.

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.