NetApp, Inc. (NASDAQ:NTAP) Stock Holdings Lessened by Calamos Advisors LLC

Calamos Advisors LLC reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,504 shares of the data storage provider’s stock after selling 1,012 shares during the quarter. Calamos Advisors LLC’s holdings in NetApp were worth $6,833,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in NetApp by 1.2% in the first quarter. Vanguard Group Inc. now owns 25,823,258 shares of the data storage provider’s stock valued at $2,143,331,000 after acquiring an additional 294,399 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of NetApp by 70.3% in 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 buying an additional 3,439,053 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of NetApp by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 4,687,364 shares of the data storage provider’s stock worth $298,809,000 after buying an additional 82,923 shares during the period. Morgan Stanley grew its stake in NetApp by 12.3% in the 4th quarter. Morgan Stanley now owns 2,304,331 shares of the data storage provider’s stock valued at $138,398,000 after buying an additional 253,024 shares during the last quarter. Finally, Norges Bank bought a new position in NetApp in the 4th quarter worth $138,383,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 871 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total value of $89,730.42. Following the sale, the executive vice president now owns 9,601 shares in the company, valued at approximately $989,095.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total value of $89,730.42. Following the completion of the transaction, the executive vice president now owns 9,601 shares in the company, valued at $989,095.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael J. Berry sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $102.75, for a total value of $770,625.00. Following the completion of the transaction, the chief financial officer now directly owns 152,409 shares in the company, valued at $15,660,024.75. The disclosure for this sale can be found here. Insiders sold 40,371 shares of company stock worth $4,139,505 over the last three months. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of NetApp from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. Argus upgraded NetApp from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Monday, March 4th. Wedbush lifted their price target on NetApp from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Evercore ISI increased their price objective on NetApp from $95.00 to $105.00 and gave the company an “in-line” rating in a research report on Friday, March 1st. Finally, Raymond James restated a “market perform” rating on shares of NetApp in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.60.

NetApp Price Performance

NASDAQ:NTAP opened at $97.95 on Friday. The company has a market capitalization of $20.21 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 2.16 and a beta of 1.28. The company has a 50-day moving average of $98.99 and a 200-day moving average of $88.52. NetApp, Inc. has a 52 week low of $60.92 and a 52 week high of $112.48. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.25. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the company earned $1.02 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that NetApp, Inc. will post 5.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 2.04%. NetApp’s dividend payout ratio is currently 45.45%.

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.