NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its holdings in NetApp, Inc. by 14.8%, owning approximately 207,586 shares valued at $18.23 million at the end of the first quarter.
• NetApp reported $1.93 EPS for the latest quarter, exceeding analyst expectations, with revenue of $1.73 billion and a net margin of 18.05%.
• The company announced a quarterly dividend of $0.52 per share, resulting in an annualized yield of 1.99%, with a payout ratio of 36.62%.

Mackenzie Financial Corp decreased its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 14.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 207,586 shares of the data storage provider's stock after selling 35,918 shares during the period. Mackenzie Financial Corp owned about 0.10% of NetApp worth $18,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its holdings in NetApp by 39.6% in the first quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider's stock valued at $3,250,000 after purchasing an additional 10,494 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new position in NetApp in the 4th quarter valued at about $5,151,000. Achmea Investment Management B.V. raised its holdings in NetApp by 55.8% in the 1st quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider's stock valued at $19,492,000 after acquiring an additional 79,457 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new stake in shares of NetApp during the 1st quarter worth approximately $321,000. Finally, World Investment Advisors increased its holdings in shares of NetApp by 62.2% during the 4th quarter. World Investment Advisors now owns 12,976 shares of the data storage provider's stock worth $1,506,000 after buying an additional 4,978 shares during the last quarter. Institutional investors own 92.17% of the company's stock.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 302 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were 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 owned 455 shares of the company's stock, valued at approximately $44,940.35. This represents a 39.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $106.84, for a total transaction of $106,840.00. Following the transaction, the executive vice president directly owned 24,251 shares of the company's stock, valued at $2,590,976.84. This trade represents a 3.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,302 shares of company stock valued at $1,920,479. Company insiders own 0.47% of the company's stock.

NetApp Stock Performance

NASDAQ NTAP traded down $3.03 during trading on Friday, reaching $101.10. The company's stock had a trading volume of 1,414,970 shares, compared to its average volume of 1,410,739. 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 firm has a market cap of $20.26 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 2.33 and a beta of 1.44. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The business's fifty day moving average price is $104.23 and its 200-day moving average price is $102.10.

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

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.08 annualized dividend and a dividend yield of 2.1%. NetApp's dividend payout ratio is presently 36.62%.

Analysts Set New Price Targets

Several analysts recently weighed in on NTAP shares. Citigroup lifted their target price on shares of NetApp from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Monday, June 2nd. Morgan Stanley reissued a "cautious" rating on shares of NetApp in a research report on Tuesday, May 20th. UBS Group reduced their price target on shares of NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Wedbush reissued a "neutral" rating and issued a $110.00 price target on shares of NetApp in a research report on Friday, May 30th. Finally, Barclays raised their price target on shares of NetApp from $115.00 to $117.00 and gave the company 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 MarketBeat, the stock has an average rating of "Hold" and an average price target of $118.86.

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.