GTS Securities LLC Sells 30,820 Shares of NetApp, Inc. (NASDAQ:NTAP)

GTS Securities LLC reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 86.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,720 shares of the data storage provider's stock after selling 30,820 shares during the quarter. GTS Securities LLC's holdings in NetApp were worth $548,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in NetApp in the fourth quarter valued at about $26,000. Assetmark Inc. grew its position in NetApp by 826.9% during 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. Synergy Investment Management LLC acquired a new stake in NetApp during the 4th quarter valued at $32,000. Itau Unibanco Holding S.A. raised 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 valued at $32,000 after purchasing an additional 251 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in NetApp in the fourth quarter worth $35,000. 92.17% of the stock is owned by institutional investors.

Insider Buying and Selling at NetApp

In other news, President Cesar Cernuda sold 19,696 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $90.15, for a total value of $1,775,594.40. Following the completion of the transaction, the president now owns 11,928 shares in the company, valued at $1,075,309.20. This trade represents a 62.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $81.83, for a total value of $695,555.00. Following the sale, the chief executive officer now owns 249,765 shares in the company, valued at $20,438,269.95. The trade was a 3.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,724 shares of company stock worth $2,520,032. Corporate insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

NTAP has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a report on Friday. Keefe, Bruyette & Woods upgraded shares of NetApp to an "outperform" rating in a research report on Wednesday, February 19th. Wall Street Zen cut shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Evercore ISI dropped their price objective on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a research report on Monday, April 28th. Finally, Susquehanna lowered NetApp from a "positive" rating to a "neutral" rating and decreased their price objective for the company from $155.00 to $130.00 in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $118.93.

NetApp Trading Down 0.1%

Shares of NetApp stock traded down $0.05 during trading hours on Friday, hitting $99.16. The company's stock had a trading volume of 6,642,920 shares, compared to its average volume of 1,943,941. 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 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The company has a market capitalization of $20.17 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. The stock has a 50 day moving average of $90.11 and a 200 day moving average of $107.25.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its earnings results on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the company posted $1.80 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. Analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.10%. NetApp's payout ratio is presently 38.52%.

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.