Mn Services Vermogensbeheer B.V. Has $7.79 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Mn Services Vermogensbeheer B.V. cut its holdings in NetApp, Inc. (NASDAQ:NTAP) by 6.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,900 shares of the data storage provider’s stock after selling 7,600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in NetApp were worth $7,785,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NTAP. Private Advisor Group LLC boosted its stake in NetApp by 66.3% in the first quarter. Private Advisor Group LLC now owns 7,740 shares of the data storage provider’s stock valued at $643,000 after buying an additional 3,086 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in NetApp by 6.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,741 shares of the data storage provider’s stock valued at $2,469,000 after purchasing an additional 1,672 shares during the last quarter. Sei Investments Co. raised its position in NetApp by 0.8% in the first quarter. Sei Investments Co. now owns 139,507 shares of the data storage provider’s stock valued at $11,563,000 after purchasing an additional 1,086 shares during the last quarter. Aviva PLC raised its position in NetApp by 41.0% in the first quarter. Aviva PLC now owns 98,770 shares of the data storage provider’s stock valued at $8,198,000 after purchasing an additional 28,705 shares during the last quarter. Finally, Prudential PLC bought a new position in NetApp in the first quarter valued at about $465,000. 90.25% of the stock is owned by institutional investors and hedge funds.

NetApp Trading Down 0.5 %

Shares of NetApp stock opened at $76.74 on Tuesday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.24 and a current ratio of 1.28. NetApp, Inc. has a 52 week low of $58.08 and a 52 week high of $80.53. The stock has a 50 day moving average price of $75.77 and a two-hundred day moving average price of $74.04. The stock has a market capitalization of $16.02 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 2.16 and a beta of 1.20.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 23rd. The data storage provider reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.08. NetApp had a return on equity of 85.69% and a net margin of 19.49%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the firm posted $0.97 earnings per share. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that NetApp, Inc. will post 4.48 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Friday, October 6th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, October 5th. This represents a $2.00 annualized dividend and a dividend yield of 2.61%. NetApp’s payout ratio is 36.17%.

Insider Activity at NetApp

In related news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $75.70, for a total transaction of $1,665,400.00. Following the transaction, the president now owns 81,659 shares of the company’s stock, valued at $6,181,586.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $75.70, for a total transaction of $1,665,400.00. Following the transaction, the president now owns 81,659 shares of the company’s stock, valued at $6,181,586.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.58, for a total value of $69,314.18. Following the transaction, the executive vice president now directly owns 12,770 shares in the company, valued at approximately $1,016,236.60. The disclosure for this sale can be found here. Insiders have sold a total of 76,489 shares of company stock valued at $5,909,145 over the last 90 days. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on NetApp from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, August 21st. TD Cowen raised their price objective on NetApp from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. Raymond James raised their price objective on NetApp from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. William Blair downgraded NetApp from an “outperform” rating to a “market perform” rating in a research report on Monday, September 18th. Finally, Morgan Stanley upgraded NetApp from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $60.00 to $74.00 in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, NetApp has an average rating of “Hold” and an average target price of $77.84.

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.