Los Angeles Capital Management LLC Has $27.36 Million Stake in NetApp, Inc. (NASDAQ:NTAP)

Los Angeles Capital Management LLC decreased its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 76.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 311,463 shares of the data storage provider's stock after selling 1,031,288 shares during the period. Los Angeles Capital Management LLC owned about 0.15% of NetApp worth $27,359,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NTAP. Olde Wealth Management LLC purchased a new position in shares of NetApp in the 1st quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in NetApp by 54.9% during the 1st 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. Itau Unibanco Holding S.A. boosted its stake in NetApp by 929.6% during 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. Coppell Advisory Solutions LLC boosted its stake in 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 purchasing an additional 100 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of NetApp in the 4th quarter worth $36,000. 92.17% of the stock is currently owned by institutional investors.

NetApp Stock Performance

Shares of NTAP stock traded down $2.51 on Tuesday, hitting $104.95. The company had a trading volume of 1,649,701 shares, compared to its average volume of 1,913,640. The firm has a market cap of $21.03 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 2.50 and a beta of 1.42. The company has a 50-day moving average price of $103.17 and a 200-day moving average price of $102.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 2.39. NetApp, Inc. has a twelve month low of $71.84 and a twelve month 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, topping the consensus estimate of $1.90 by $0.03. NetApp had a return on equity of 126.96% and a net margin of 18.05%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the business posted $1.80 earnings per share. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.98%. NetApp's dividend payout ratio is currently 36.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NTAP shares. UBS Group dropped their target price on NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. JPMorgan Chase & Co. raised their price objective on shares of NetApp from $115.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Barclays boosted 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. Wells Fargo & Company lowered their price objective on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Finally, Wedbush restated a "neutral" rating and issued a $110.00 price objective on shares of NetApp in a research note on Friday, May 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $118.86.

Insider Activity at NetApp

In other news, CAO Lorenzo Daniel De sold 302 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total value 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 trade represents a 39.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were 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 of the company's stock, valued at approximately $30,208,812.90. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,802 shares of company stock worth $1,001,799. 0.47% of the stock is currently owned by insiders.

NetApp 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.