Kentucky Retirement Systems Trims Holdings in NetApp, Inc. (NASDAQ:NTAP)

Kentucky Retirement Systems reduced its holdings in shares of NetApp, Inc. (NASDAQ:NTAPFree Report) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,126 shares of the data storage provider’s stock after selling 195 shares during the quarter. Kentucky Retirement Systems’ holdings in NetApp were worth $1,640,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NTAP. Creative Planning increased its position in NetApp by 8.7% in the third quarter. Creative Planning now owns 26,001 shares of the data storage provider’s stock worth $3,211,000 after buying an additional 2,073 shares during the period. Allspring Global Investments Holdings LLC increased its position in NetApp by 279.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 57,470 shares of the data storage provider’s stock worth $7,098,000 after buying an additional 42,312 shares during the period. Sequoia Financial Advisors LLC increased its position in NetApp by 51.0% in the third quarter. Sequoia Financial Advisors LLC now owns 3,255 shares of the data storage provider’s stock worth $402,000 after buying an additional 1,099 shares during the period. Private Advisor Group LLC increased its position in NetApp by 25.4% in the third quarter. Private Advisor Group LLC now owns 3,166 shares of the data storage provider’s stock worth $391,000 after buying an additional 642 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in NetApp by 1.8% in the third quarter. Assenagon Asset Management S.A. now owns 27,091 shares of the data storage provider’s stock worth $3,346,000 after buying an additional 474 shares during the period. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NetApp

In related news, CEO George Kurian sold 8,500 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total value of $1,011,840.00. Following the completion of the transaction, the chief executive officer now owns 266,765 shares in the company, valued at $31,755,705.60. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares of the company’s stock, valued at $3,116,114.01. This trade represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,903 shares of company stock worth $7,260,341 in the last quarter. 0.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NTAP shares. Barclays raised their price target on NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a report on Wednesday. Susquehanna lowered NetApp from a “positive” rating to a “neutral” rating and lowered their price target for the company from $155.00 to $130.00 in a report on Monday, February 10th. Northland Securities raised their price target on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. Finally, Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and raised their price target for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $137.33.

Get Our Latest Analysis on NetApp

NetApp Trading Down 0.1 %

Shares of NTAP stock opened at $124.47 on Monday. The stock has a 50-day simple moving average of $120.12 and a 200 day simple moving average of $122.00. NetApp, Inc. has a fifty-two week low of $85.28 and a fifty-two week high of $135.45. The stock has a market capitalization of $25.31 billion, a P/E ratio of 22.88, a P/E/G ratio of 2.45 and a beta of 1.23. 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 (NASDAQ:NTAPGet Free Report) last released its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share 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 business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company posted $1.23 EPS. NetApp’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp 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

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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