Crossmark Global Holdings Inc. Reduces Position in NetApp, Inc. (NASDAQ:NTAP)

Crossmark Global Holdings Inc. trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 9.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 151,942 shares of the data storage provider's stock after selling 15,723 shares during the period. Crossmark Global Holdings Inc. owned approximately 0.07% of NetApp worth $13,347,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after acquiring an additional 215 shares during the last quarter. Olde Wealth Management LLC bought a new stake in NetApp in the 1st quarter worth approximately $29,000. Itau Unibanco Holding S.A. grew its position in NetApp by 929.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after purchasing an additional 251 shares during the period. Coppell Advisory Solutions LLC grew its position in shares of NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after acquiring an additional 100 shares during the period. Finally, Park Square Financial Group LLC bought a new stake in shares of NetApp during the 4th quarter valued at $36,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NTAP. Wells Fargo & Company cut their price objective on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Evercore ISI lowered their price target on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a report on Monday, April 28th. Citigroup raised their price objective on shares of NetApp from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Monday, June 2nd. UBS Group decreased their price objective on shares of NetApp from $115.00 to $108.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Finally, Barclays raised their price objective on shares of NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, NetApp has an average rating of "Hold" and a consensus target price of $117.79.

NetApp Stock Down 1.6%

NASDAQ:NTAP traded down $1.76 during trading hours on Monday, reaching $105.50. The company's stock had a trading volume of 1,376,907 shares, compared to its average volume of 1,923,728. The company has a market capitalization of $21.14 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 2.47 and a beta of 1.42. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a 50 day moving average price of $100.28 and a two-hundred day moving average price of $103.54.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. NetApp had a net margin of 18.05% and a return on equity of 126.96%. NetApp's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.80 earnings per share. Equities analysts predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, July 3rd. NetApp's dividend payout ratio is currently 36.62%.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the transaction, the chief executive officer directly owned 249,765 shares of the company's stock, valued at approximately $20,438,269.95. The trade was a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 302 shares of NetApp stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $98.77, for a total transaction of $29,828.54. Following the completion of the transaction, the chief accounting officer directly owned 455 shares in the company, valued at $44,940.35. This represents a 39.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,302 shares of company stock worth $1,590,514 over the last ninety days. Corporate insiders own 0.47% of the company's stock.

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.