NetApp, Inc. (NASDAQ:NTAP) Stock Holdings Trimmed by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB lowered its holdings in shares of NetApp, Inc. (NASDAQ:NTAPFree Report) by 11.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 738 shares of the data storage provider’s stock after selling 96 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in NetApp were worth $86,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NTAP. AQR Capital Management LLC raised its stake in shares of NetApp by 59.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock worth $211,637,000 after buying an additional 613,583 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of NetApp by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock worth $738,280,000 after buying an additional 453,324 shares in the last quarter. APG Asset Management US Inc. bought a new stake in shares of NetApp in the 2nd quarter worth $48,074,000. Robeco Institutional Asset Management B.V. raised its stake in shares of NetApp by 38.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,232,852 shares of the data storage provider’s stock worth $152,270,000 after buying an additional 342,415 shares in the last quarter. Finally, Unigestion Holding SA raised its stake in shares of NetApp by 926.1% in the 3rd quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider’s stock worth $35,022,000 after buying an additional 256,028 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

Insider Transactions at NetApp

In other news, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the sale, the president now owns 27,099 shares in the company, valued at approximately $3,116,114.01. This represents a 44.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas Michael Nevens sold 3,333 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $119.23, for a total value of $397,393.59. Following the sale, the director now owns 9,277 shares of the company’s stock, valued at approximately $1,106,096.71. This trade represents a 26.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,610 shares of company stock worth $6,123,351. 0.47% of the stock is owned by corporate insiders.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $126.30 on Friday. The business’s 50-day moving average price is $121.07 and its two-hundred day moving average price is $122.69. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp, Inc. has a one year low of $83.80 and a one year high of $135.45. The company has a market capitalization of $25.68 billion, a P/E ratio of 23.22, a price-to-earnings-growth ratio of 2.93 and a beta of 1.23.

NetApp (NASDAQ:NTAPGet Free Report) last issued its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a $0.52 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.65%. NetApp’s dividend payout ratio (DPR) is currently 38.24%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NTAP shares. StockNews.com downgraded NetApp from a “buy” rating to a “hold” rating in a research note on Monday. TD Cowen boosted their price objective on NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 target price on the stock in a research report on Monday, December 16th. Wedbush reaffirmed a “neutral” rating and set a $120.00 target price on shares of NetApp in a research report on Friday, November 22nd. Finally, Citigroup boosted their target price on NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $139.20.

Get Our Latest Report on NetApp

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

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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