Amalgamated Bank Has $4.66 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Amalgamated Bank increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAPFree Report) by 9.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 61,439 shares of the data storage provider’s stock after purchasing an additional 5,396 shares during the period. Amalgamated Bank’s holdings in NetApp were worth $4,662,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NTAP. Wellington Management Group LLP lifted its stake in NetApp by 70.3% during the first quarter. Wellington Management Group LLP now owns 8,329,363 shares of the data storage provider’s stock worth $691,339,000 after purchasing an additional 3,439,053 shares during the last quarter. Norges Bank bought a new position in shares of NetApp in the 4th quarter valued at $138,383,000. Holocene Advisors LP bought a new position in shares of NetApp in the 2nd quarter valued at $122,552,000. Capital International Investors lifted its stake in shares of NetApp by 12.8% in the 2nd quarter. Capital International Investors now owns 13,694,095 shares of the data storage provider’s stock valued at $1,046,202,000 after acquiring an additional 1,557,335 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of NetApp by 184.4% in the 2nd quarter. California Public Employees Retirement System now owns 1,208,847 shares of the data storage provider’s stock valued at $92,356,000 after acquiring an additional 783,845 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

NetApp Stock Performance

NASDAQ:NTAP opened at $87.23 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 2.59. NetApp, Inc. has a fifty-two week low of $59.73 and a fifty-two week high of $91.78. The stock has a market cap of $17.97 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 2.05 and a beta of 1.28. The firm’s fifty day simple moving average is $88.20 and its 200-day simple moving average is $80.67.

NetApp (NASDAQ:NTAPGet Free Report) last released its earnings results on Tuesday, November 28th. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.19. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.53 billion. NetApp had a net margin of 11.34% and a return on equity of 94.77%. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 EPS. Analysts expect that NetApp, Inc. will post 4.85 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is currently 62.11%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NTAP. TD Cowen increased their price target on NetApp from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, November 29th. JPMorgan Chase & Co. cut shares of NetApp from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $89.00 to $87.00 in a report on Monday, January 8th. Northland Securities lowered shares of NetApp from an “outperform” rating to a “market perform” rating and set a $100.00 target price for the company. in a research report on Wednesday, November 29th. Wells Fargo & Company boosted their price target on shares of NetApp from $72.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 29th. Finally, Morgan Stanley upped their price objective on shares of NetApp from $74.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 29th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $84.50.

Check Out Our Latest Report on NTAP

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 871 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $89.50, for a total transaction of $77,954.50. Following the transaction, the executive vice president now directly owns 11,727 shares in the company, valued at $1,049,566.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $89.50, for a total transaction of $77,954.50. Following the transaction, the executive vice president now directly owns 11,727 shares of the company’s stock, valued at $1,049,566.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael J. Berry sold 7,500 shares of NetApp stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $85.82, for a total value of $643,650.00. Following the completion of the transaction, the chief financial officer now directly owns 165,422 shares in the company, valued at approximately $14,196,516.04. The disclosure for this sale can be found here. In the last three months, insiders sold 9,242 shares of company stock worth $796,746. 0.37% of the stock is currently owned by insiders.

NetApp Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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