State of New Jersey Common Pension Fund D Decreases Stake in NetApp, Inc. (NASDAQ:NTAP)

State of New Jersey Common Pension Fund D lowered its stake in shares of NetApp, Inc. (NASDAQ:NTAPFree Report) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,414 shares of the data storage provider’s stock after selling 9,805 shares during the period. State of New Jersey Common Pension Fund D owned 0.05% of NetApp worth $8,606,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Parallel Advisors LLC boosted its position in shares of NetApp by 7.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,845 shares of the data storage provider’s stock worth $141,000 after purchasing an additional 129 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of NetApp by 0.9% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 15,369 shares of the data storage provider’s stock worth $1,174,000 after purchasing an additional 135 shares in the last quarter. Huntington National Bank boosted its position in shares of NetApp by 40.4% in the 3rd quarter. Huntington National Bank now owns 490 shares of the data storage provider’s stock worth $37,000 after purchasing an additional 141 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of NetApp by 1.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,810 shares of the data storage provider’s stock worth $979,000 after purchasing an additional 144 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of NetApp by 34.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 595 shares of the data storage provider’s stock worth $45,000 after purchasing an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 871 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $86.27, for a total value of $75,141.17. Following the transaction, the executive vice president now directly owns 10,856 shares in the company, valued at $936,547.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NetApp news, CFO Michael J. Berry sold 7,500 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $85.82, for a total transaction of $643,650.00. Following the transaction, the chief financial officer now directly 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 can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 871 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $86.27, for a total value of $75,141.17. Following the transaction, the executive vice president now owns 10,856 shares in the company, valued at $936,547.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,242 shares of company stock worth $796,746. Insiders own 0.37% of the company’s stock.

NetApp Trading Up 1.0 %

Shares of NetApp stock opened at $89.85 on Monday. The stock has a market cap of $18.51 billion, a P/E ratio of 27.90, a P/E/G ratio of 2.11 and a beta of 1.28. The stock’s 50 day simple moving average is $88.13 and its 200-day simple moving average is $80.84. NetApp, Inc. has a 1-year low of $59.73 and a 1-year high of $91.78. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.07 and a quick ratio of 1.04.

NetApp (NASDAQ:NTAPGet Free Report) last issued its earnings results on Tuesday, November 28th. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.19. The business had revenue of $1.56 billion for 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%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. Analysts predict that NetApp, Inc. will post 4.85 EPS for the current fiscal year.

NetApp Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have commented on NTAP. Raymond James reaffirmed a “market perform” rating on shares of NetApp in a research report on Tuesday, January 16th. JPMorgan Chase & Co. cut 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 research report on Monday, January 8th. Morgan Stanley boosted their price objective on NetApp from $74.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday, November 29th. TD Cowen boosted their price objective on NetApp from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, November 29th. Finally, Northland Securities cut NetApp from an “outperform” rating to a “market perform” rating and set a $100.00 price objective for the company. 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $84.50.

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About NetApp

(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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