Securian Asset Management Inc cut its stake in NetApp Inc. (NASDAQ:NTAP) by 1.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,650 shares of the data storage provider’s stock after selling 432 shares during the period. Securian Asset Management Inc’s holdings in NetApp were worth $1,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Lindbrook Capital LLC purchased a new position in shares of NetApp during the fourth quarter worth $32,000. Bremer Trust National Association acquired a new stake in shares of NetApp in the fourth quarter valued at $33,000. Financial Gravity Wealth Inc. acquired a new stake in shares of NetApp in the first quarter valued at $39,000. Global Retirement Partners LLC raised its stake in shares of NetApp by 8,090.0% in the fourth quarter. Global Retirement Partners LLC now owns 819 shares of the data storage provider’s stock valued at $49,000 after acquiring an additional 809 shares in the last quarter. Finally, North Star Investment Management Corp. raised its stake in shares of NetApp by 660.0% in the first quarter. North Star Investment Management Corp. now owns 760 shares of the data storage provider’s stock valued at $53,000 after acquiring an additional 660 shares in the last quarter. Institutional investors and hedge funds own 95.71% of the company’s stock.
In related news, VP Joel D. Reich sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $64.04, for a total transaction of $1,280,800.00. Following the transaction, the vice president now owns 744 shares of the company’s stock, valued at $47,645.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.
NTAP has been the topic of several analyst reports. Morgan Stanley cut NetApp from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $72.00 to $58.00 in a research note on Tuesday, January 15th. Zacks Investment Research cut NetApp from a “hold” rating to a “sell” rating in a research note on Friday, January 18th. BidaskClub upgraded NetApp from a “hold” rating to a “buy” rating in a research note on Wednesday, January 30th. OTR Global cut NetApp to a “positive” rating in a research note on Friday, February 8th. Finally, Bank of America restated a “buy” rating and issued a $90.00 price target on shares of NetApp in a research note on Monday, February 11th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. NetApp currently has a consensus rating of “Hold” and an average target price of $77.88.
NTAP opened at $71.68 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.53 and a current ratio of 1.56. NetApp Inc. has a one year low of $54.50 and a one year high of $88.08. The stock has a market cap of $17.99 billion, a PE ratio of 23.97, a PEG ratio of 1.28 and a beta of 1.40.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, February 13th. The data storage provider reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.05. NetApp had a return on equity of 60.32% and a net margin of 16.85%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts anticipate that NetApp Inc. will post 4.04 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Friday, April 5th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, April 4th. NetApp’s dividend payout ratio is currently 53.51%.
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NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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