NetApp, Inc. (NASDAQ:NTAP) Stock Holdings Lessened by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 23.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,760,555 shares of the data storage provider’s stock after selling 542,195 shares during the period. NetApp accounts for approximately 0.9% of Los Angeles Capital Management LLC’s holdings, making the stock its 17th biggest position. Los Angeles Capital Management LLC owned 0.86% of NetApp worth $217,446,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTAP. Envestnet Portfolio Solutions Inc. boosted its position in shares of NetApp by 21.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,551 shares of the data storage provider’s stock worth $2,262,000 after buying an additional 3,789 shares during the period. Empowered Funds LLC raised its position in NetApp by 136.6% in the first quarter. Empowered Funds LLC now owns 29,017 shares of the data storage provider’s stock worth $3,046,000 after acquiring an additional 16,751 shares in the last quarter. Forsta AP Fonden lifted its holdings in NetApp by 5.0% in the 1st quarter. Forsta AP Fonden now owns 77,700 shares of the data storage provider’s stock valued at $8,156,000 after acquiring an additional 3,700 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of NetApp in the 1st quarter worth approximately $281,000. Finally, Sei Investments Co. raised its holdings in shares of NetApp by 63.9% in the 1st quarter. Sei Investments Co. now owns 343,218 shares of the data storage provider’s stock worth $36,025,000 after purchasing an additional 133,813 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NTAP shares. Barclays raised their target price on shares of NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. UBS Group lifted their price target on NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Stifel Nicolaus raised their target price on shares of NetApp from $138.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $155.00 target price on shares of NetApp in a research report on Monday, August 26th. One equities research 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 stock has an average rating of “Hold” and a consensus target price of $129.06.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 705 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares in the company, valued at approximately $1,475,782.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction of $88,971.00. Following the sale, the executive vice president now owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $126.11, for a total transaction of $1,071,935.00. Following the completion of the sale, the chief executive officer now directly owns 292,778 shares in the company, valued at approximately $36,922,233.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,890 shares of company stock worth $1,369,172. 0.47% of the stock is owned by insiders.

NetApp Stock Up 1.0 %

Shares of NTAP stock traded up $1.18 on Friday, hitting $124.01. The company’s stock had a trading volume of 1,367,649 shares, compared to its average volume of 1,341,136. The stock has a market capitalization of $25.40 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 4.55 and a beta of 1.24. NetApp, Inc. has a fifty-two week low of $75.32 and a fifty-two week high of $135.01. The firm’s fifty day moving average price is $121.01 and its 200-day moving average price is $121.32. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Research analysts anticipate that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Friday, October 4th. NetApp’s dividend payout ratio is 40.62%.

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.