Illinois Municipal Retirement Fund Cuts Holdings in NetApp, Inc. (NASDAQ:NTAP)

Illinois Municipal Retirement Fund trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,236 shares of the data storage provider’s stock after selling 14,177 shares during the period. Illinois Municipal Retirement Fund owned about 0.09% of NetApp worth $20,922,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Intech Investment Management LLC grew its holdings in shares of NetApp by 8.9% in the 3rd quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock worth $37,301,000 after acquiring an additional 24,651 shares during the period. Daiwa Securities Group Inc. grew its holdings in NetApp by 20.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock valued at $5,225,000 after buying an additional 7,318 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in NetApp by 9.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock valued at $156,268,000 after buying an additional 113,360 shares during the last quarter. Hilton Capital Management LLC acquired a new stake in NetApp during the 3rd quarter valued at $4,059,000. Finally, Orion Portfolio Solutions LLC grew its holdings in NetApp by 232.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider’s stock valued at $831,000 after buying an additional 4,705 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Stock Down 0.8 %

Shares of NetApp stock opened at $123.50 on Tuesday. The business has a 50-day moving average of $120.06 and a 200-day moving average of $122.03. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The company has a market capitalization of $25.11 billion, a PE ratio of 22.70, a P/E/G ratio of 2.45 and a beta of 1.23. NetApp, Inc. has a 1-year low of $86.43 and a 1-year high of $135.45.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 452 shares of NetApp stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the completion of the transaction, the executive vice president now directly owns 11,553 shares in the company, valued at approximately $1,395,024.75. This trade represents a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated 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 of the company’s stock, valued at $31,755,705.60. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,903 shares of company stock worth $7,260,341. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

NTAP has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on NetApp from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 20th. StockNews.com raised NetApp from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 price target on the stock in a research note on Monday, December 16th. Barclays increased their price target on NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Finally, Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $137.33.

About NetApp

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.