NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. cut its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 6.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,795 shares of the data storage provider’s stock after selling 2,882 shares during the quarter. Navellier & Associates Inc.’s holdings in NetApp were worth $5,409,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NTAP. UMB Bank n.a. increased its position in NetApp by 11.8% during the second quarter. UMB Bank n.a. now owns 784 shares of the data storage provider’s stock worth $101,000 after buying an additional 83 shares in the last quarter. Aviso Wealth Management increased its position in NetApp by 1.4% during the second quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock worth $792,000 after buying an additional 83 shares in the last quarter. Waldron Private Wealth LLC increased its position in NetApp by 4.3% during the second quarter. Waldron Private Wealth LLC now owns 2,255 shares of the data storage provider’s stock worth $290,000 after buying an additional 92 shares in the last quarter. Quarry LP increased its position in NetApp by 11.7% during the second quarter. Quarry LP now owns 876 shares of the data storage provider’s stock worth $113,000 after buying an additional 92 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co increased its position in NetApp by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider’s stock worth $2,437,000 after buying an additional 95 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NTAP. Oppenheimer began coverage on NetApp in a research report on Wednesday, November 13th. They set a “market perform” rating for the company. Bank of America raised their price target on NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. UBS Group lifted their price objective on NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Wedbush reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of NetApp in a research report on Monday, August 26th. Finally, Citigroup lifted their price objective on NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $129.06.

Insider Buying and Selling

In related news, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction dated 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 available through this link. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 288,282 shares of the company’s stock, valued at approximately $34,017,276. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,049 shares of company stock worth $2,807,851. 0.47% of the stock is currently owned by corporate insiders.

NetApp Trading Up 1.0 %

Shares of NTAP opened at $123.45 on Thursday. The stock’s 50-day moving average is $121.56 and its two-hundred day moving average is $122.36. The stock has a market cap of $25.28 billion, a PE ratio of 24.11, a P/E/G ratio of 3.13 and a beta of 1.24. NetApp, Inc. has a 12 month low of $77.30 and a 12 month high of $135.01. 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 released its quarterly earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was up 7.6% compared to the same quarter last year. Equities analysts forecast that NetApp, Inc. will post 5.71 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, October 4th. NetApp’s dividend payout ratio (DPR) is 40.63%.

NetApp Company 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.