NetApp, Inc. (NASDAQ:NTAP) Shares Sold by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 119,188 shares of the data storage provider’s stock after selling 807 shares during the quarter. GHP Investment Advisors Inc. owned approximately 0.06% of NetApp worth $14,721,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Acadian Asset Management LLC raised its position in shares of NetApp by 48.3% in the 1st quarter. Acadian Asset Management LLC now owns 2,375,366 shares of the data storage provider’s stock valued at $249,307,000 after purchasing an additional 773,773 shares in the last quarter. AQR Capital Management LLC boosted its stake in NetApp by 59.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock valued at $211,637,000 after acquiring an additional 613,583 shares during the last quarter. TD Asset Management Inc grew its holdings in NetApp by 26.5% during the 1st quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider’s stock worth $225,532,000 after acquiring an additional 450,263 shares in the last quarter. TCW Group Inc. acquired a new position in NetApp during the 2nd quarter worth $56,313,000. Finally, APG Asset Management US Inc. bought a new stake in shares of NetApp in the 2nd quarter worth about $48,074,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

NetApp stock traded down $0.43 during mid-day trading on Friday, hitting $119.41. 1,158,132 shares of the company’s stock traded hands, compared to its average volume of 1,827,316. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34. NetApp, Inc. has a one year low of $70.82 and a one year high of $135.01. The firm has a 50 day moving average price of $123.15 and a 200 day moving average price of $119.95. The company has a market cap of $24.45 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 4.49 and a beta of 1.23.

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

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were given a $0.52 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a yield of 1.74%. NetApp’s dividend payout ratio (DPR) is 40.63%.

Insider Buying and Selling at NetApp

In other news, CAO Lorenzo Daniel De sold 1,685 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total value of $208,266.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Lorenzo Daniel De sold 1,685 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total transaction of $208,266.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $126.11, for a total value of $1,071,935.00. Following the completion of the transaction, the chief executive officer now directly owns 292,778 shares in the company, valued at $36,922,233.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,890 shares of company stock valued at $1,369,172. 0.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on NTAP. Susquehanna reiterated a “positive” rating and issued a $155.00 price target on shares of NetApp in a research note on Monday, August 26th. UBS Group boosted their price target on NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Wedbush reiterated a “neutral” rating and set a $120.00 target price on shares of NetApp in a research note on Monday, August 26th. Finally, Bank of America raised their price target on shares of NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. 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, NetApp has a consensus rating of “Hold” and an average price target of $129.06.

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.