Edmp Inc. Lowers Position in NetApp, Inc. (NASDAQ:NTAP)

Edmp Inc. cut its stake in NetApp, Inc. (NASDAQ:NTAP) by 16.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,273 shares of the data storage provider’s stock after selling 649 shares during the quarter. Edmp Inc.’s holdings in NetApp were worth $380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Core Alternative Capital boosted its holdings in shares of NetApp by 11.5% in the fourth quarter. Core Alternative Capital now owns 45,941 shares of the data storage provider’s stock worth $5,333,000 after acquiring an additional 4,721 shares during the period. Savant Capital LLC boosted its position in NetApp by 9.6% during the 4th quarter. Savant Capital LLC now owns 6,987 shares of the data storage provider’s stock valued at $811,000 after acquiring an additional 614 shares in the last quarter. Wealthstar Advisors LLC bought a new stake in shares of NetApp in the 4th quarter worth approximately $1,167,000. Kingsview Wealth Management LLC boosted its position in shares of NetApp by 208.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 24,141 shares of the data storage provider’s stock worth $2,802,000 after purchasing an additional 16,311 shares in the last quarter. Finally, Vest Financial LLC raised its holdings in NetApp by 61.7% in the 4th quarter. Vest Financial LLC now owns 23,525 shares of the data storage provider’s stock worth $2,731,000 after acquiring an additional 8,975 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO George Kurian sold 8,500 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $118.00, for a total value of $1,003,000.00. Following the transaction, the chief executive officer now owns 288,282 shares of the company’s stock, valued at $34,017,276. This represents a 2.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Cesar Cernuda sold 22,000 shares of the firm’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 directly owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This represents a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,110 shares of company stock worth $7,632,601. 0.47% of the stock is owned by corporate insiders.

NetApp Stock Up 0.1 %

Shares of NASDAQ NTAP opened at $123.02 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 12-month low of $83.80 and a 12-month high of $135.45. The company has a market cap of $25.01 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 2.94 and a beta of 1.23. The firm’s 50-day simple moving average is $120.99 and its 200 day simple moving average is $122.04.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, January 3rd. NetApp’s dividend payout ratio is currently 38.24%.

Wall Street Analyst Weigh In

Several research firms have recently commented on NTAP. Northland Securities upped their price objective on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. StockNews.com raised shares of NetApp from a “hold” rating to a “buy” rating in a research note on Tuesday, January 28th. Bank of America raised their price objective on shares of NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a research note on Friday, November 22nd. Citigroup lifted their price target on shares of NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley boosted their price objective on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $137.53.

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.