NetApp, Inc. (NTAP) Shares Sold by Argent Capital Management LLC

Argent Capital Management LLC reduced its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 835,765 shares of the data storage provider’s stock after selling 17,490 shares during the period. Argent Capital Management LLC owned about 0.31% of NetApp worth $33,472,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CAPROCK Group Inc. raised its stake in shares of NetApp by 0.8% in the second quarter. CAPROCK Group Inc. now owns 5,278 shares of the data storage provider’s stock valued at $211,000 after acquiring an additional 44 shares in the last quarter. Contravisory Investment Management Inc. raised its stake in shares of NetApp by 0.6% in the second quarter. Contravisory Investment Management Inc. now owns 7,059 shares of the data storage provider’s stock valued at $283,000 after acquiring an additional 45 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of NetApp by 0.7% in the second quarter. Neuberger Berman Group LLC now owns 8,201 shares of the data storage provider’s stock valued at $328,000 after acquiring an additional 58 shares in the last quarter. Breton Hill Capital Ltd. raised its stake in shares of NetApp by 0.3% in the second quarter. Breton Hill Capital Ltd. now owns 17,290 shares of the data storage provider’s stock valued at $692,000 after acquiring an additional 59 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of NetApp by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider’s stock valued at $673,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Several brokerages have recently issued reports on NTAP. BidaskClub cut NetApp from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded NetApp from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday. Credit Suisse Group increased their price objective on NetApp from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of NetApp in a research note on Wednesday. Finally, Robert W. Baird reiterated a “hold” rating and issued a $46.00 price objective (up from $44.00) on shares of NetApp in a research note on Wednesday. Two analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $45.12.

In other NetApp news, CEO George Kurian sold 4,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $43.67, for a total value of $174,680.00. Following the completion of the transaction, the chief executive officer now owns 27,598 shares in the company, valued at approximately $1,205,204.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard P. Wallace sold 34,000 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $43.53, for a total transaction of $1,480,020.00. Following the completion of the transaction, the director now owns 24,132 shares of the company’s stock, valued at approximately $1,050,465.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,450 shares of company stock worth $2,250,560. 0.47% of the stock is owned by company insiders.

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NetApp, Inc. (NTAP) traded down 0.27% during trading on Friday, hitting $44.43. The company had a trading volume of 1,885,084 shares. The company has a market cap of $11.99 billion, a PE ratio of 21.45 and a beta of 1.26. The company’s 50 day moving average price is $40.83 and its 200-day moving average price is $40.75. NetApp, Inc. has a 12 month low of $30.36 and a 12 month high of $45.24.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.07. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. NetApp had a net margin of 10.47% and a return on equity of 24.13%. NetApp’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities analysts expect that NetApp, Inc. will post $3.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 6th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.80 annualized dividend and a yield of 1.80%. NetApp’s dividend payout ratio (DPR) is 38.65%.

NetApp Company Profile

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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