Foundry Partners LLC Sells 23,207 Shares of NetApp, Inc. (NASDAQ:NTAP)

Foundry Partners LLC trimmed its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 21.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,140 shares of the data storage provider's stock after selling 23,207 shares during the quarter. Foundry Partners LLC's holdings in NetApp were worth $7,479,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NTAP. Itau Unibanco Holding S.A. increased its stake in NetApp by 929.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock valued at $32,000 after purchasing an additional 251 shares during the last quarter. Coppell Advisory Solutions LLC increased its stake in NetApp by 50.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after purchasing an additional 100 shares during the last quarter. Park Square Financial Group LLC bought a new stake in NetApp during the fourth quarter valued at $36,000. Olde Wealth Management LLC bought a new stake in NetApp during the first quarter valued at $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in NetApp by 54.9% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider's stock valued at $31,000 after purchasing an additional 124 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NTAP. Wells Fargo & Company lowered their price target 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. JPMorgan Chase & Co. upped their price target on shares of NetApp from $115.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday. Wedbush restated a "neutral" rating and set a $110.00 price target on shares of NetApp in a research report on Friday, May 30th. Morgan Stanley restated a "cautious" rating on shares of NetApp in a research report on Tuesday, May 20th. Finally, Barclays upped their price target on shares of NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a research report 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $118.86.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $106.84, for a total value of $106,840.00. Following the sale, the executive vice president owned 24,251 shares in the company, valued at approximately $2,590,976.84. This trade represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $101.78, for a total transaction of $865,130.00. Following the completion of the sale, the chief executive officer owned 296,805 shares in the company, valued at approximately $30,208,812.90. The trade was a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,302 shares of company stock worth $1,697,354 over the last 90 days. Insiders own 0.47% of the company's stock.

NetApp Trading Up 1.0%

NTAP stock traded up $1.12 during mid-day trading on Friday, reaching $108.37. 1,742,694 shares of the stock traded hands, compared to its average volume of 1,913,713. The stock's fifty day moving average is $103.17 and its 200-day moving average is $102.91. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.39. The company has a market cap of $21.71 billion, a P/E ratio of 19.08, a P/E/G ratio of 2.50 and a beta of 1.42. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. NetApp had a net margin of 18.05% and a return on equity of 126.96%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.80 earnings per share. As a group, sell-side analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business 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 dividend of $0.52 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.08 annualized dividend and a yield of 1.92%. NetApp's dividend payout ratio (DPR) is presently 36.62%.

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.