State Board of Administration of Florida Retirement System Reduces Position in NetApp, Inc. (NASDAQ:NTAP)

State Board of Administration of Florida Retirement System cut its stake in NetApp, Inc. (NASDAQ:NTAPFree Report) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 251,076 shares of the data storage provider’s stock after selling 14,680 shares during the period. State Board of Administration of Florida Retirement System owned about 0.12% of NetApp worth $19,052,000 at the end of the most recent quarter.

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

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $89.85 on Friday. The firm has a market capitalization of $18.51 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.07 and a quick ratio of 1.04. The business’s 50 day simple moving average is $88.13 and its 200-day simple moving average is $80.82. NetApp, Inc. has a 12 month low of $59.73 and a 12 month high of $91.78.

NetApp (NASDAQ:NTAPGet Free Report) last issued its quarterly earnings data on Tuesday, November 28th. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.19. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.53 billion. NetApp had a return on equity of 94.77% and a net margin of 11.34%. NetApp’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 earnings per share. As a group, equities analysts forecast that NetApp, Inc. will post 4.85 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Friday, January 5th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.23%. NetApp’s payout ratio is 62.11%.

Analyst Upgrades and Downgrades

NTAP has been the topic of several research reports. Wells Fargo & Company raised their price objective on NetApp from $72.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 29th. Barclays boosted their price objective on NetApp from $69.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 29th. StockNews.com lowered shares of NetApp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 11th. Morgan Stanley lifted 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. Finally, Northland Securities lowered NetApp from an “outperform” rating to a “market perform” rating and set a $100.00 target price on the stock. in a report on Wednesday, November 29th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.50.

View Our Latest Stock Report on NTAP

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 871 shares of the 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 sale, the executive vice president now owns 11,727 shares in the company, valued at approximately $1,049,566.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Michael J. Berry sold 7,500 shares of NetApp stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $85.82, for a total transaction of $643,650.00. Following the sale, the chief financial officer now owns 165,422 shares in the company, valued at $14,196,516.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth M. O’callahan sold 871 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $89.50, for a total transaction of $77,954.50. Following the sale, the executive vice president now directly owns 11,727 shares of the company’s stock, valued at $1,049,566.50. 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 owned by corporate insiders.

NetApp Company 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.

Further Reading

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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