NetApp, Inc. (NASDAQ:NTAP) Stock Position Reduced by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its position in NetApp, Inc. (NASDAQ:NTAP) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,217 shares of the data storage provider’s stock after selling 472 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in NetApp were worth $1,766,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC lifted its holdings in NetApp by 31.4% in the third quarter. Barclays PLC now owns 784,339 shares of the data storage provider’s stock worth $96,873,000 after acquiring an additional 187,638 shares during the last quarter. World Investment Advisors LLC lifted its holdings in shares of NetApp by 6.1% in the 3rd quarter. World Investment Advisors LLC now owns 7,998 shares of the data storage provider’s stock worth $988,000 after purchasing an additional 459 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in NetApp during the 3rd quarter valued at approximately $160,000. Tidal Investments LLC grew its stake in NetApp by 343.1% during the 3rd quarter. Tidal Investments LLC now owns 227,933 shares of the data storage provider’s stock worth $28,152,000 after buying an additional 176,495 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in NetApp by 19.6% in the third quarter. Franklin Resources Inc. now owns 433,616 shares of the data storage provider’s stock worth $55,009,000 after buying an additional 71,165 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NetApp

In other news, President Cesar Cernuda sold 19,696 shares of the company’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the sale, the president now directly owns 11,928 shares of the company’s stock, valued at $1,075,309.20. This represents a 62.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 $1,395,024.75. This represents a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,176 shares of company stock valued at $5,095,701 in the last three months. 0.47% of the stock is currently owned by corporate insiders.

NetApp Stock Up 0.3 %

NASDAQ NTAP opened at $88.45 on Friday. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The company has a market capitalization of $17.99 billion, a P/E ratio of 16.26, a PEG ratio of 2.45 and a beta of 1.31. The company’s 50 day simple moving average is $92.87 and its 200 day simple moving average is $111.41. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were given a dividend of $0.52 per share. The ex-dividend date was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.35%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NTAP shares. Wells Fargo & Company reduced their price target on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Wedbush reissued a “neutral” rating and set a $110.00 target price (down from $120.00) on shares of NetApp in a research note on Friday, February 28th. Bank of America upgraded shares of 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 research note on Wednesday, February 19th. Loop Capital reduced their price objective on NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Finally, Susquehanna cut NetApp from a “positive” rating to a “neutral” rating and lowered their target price for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $125.07.

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.