Lbp Am Sa Trims Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

LBP AM SA cut its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 14.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,876 shares of the data storage provider's stock after selling 17,970 shares during the period. LBP AM SA owned about 0.05% of NetApp worth $9,564,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moors & Cabot Inc. raised its stake in NetApp by 3.6% in the fourth quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock valued at $337,000 after buying an additional 100 shares in the last quarter. Coppell Advisory Solutions LLC boosted its holdings in shares of NetApp by 50.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after buying an additional 100 shares in the last quarter. Utah Retirement Systems boosted its holdings in shares of NetApp by 0.3% in the 4th quarter. Utah Retirement Systems now owns 34,152 shares of the data storage provider's stock valued at $3,964,000 after buying an additional 100 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of NetApp by 2.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock valued at $534,000 after buying an additional 111 shares in the last quarter. Finally, Gitterman Wealth Management LLC boosted its holdings in shares of NetApp by 6.4% in the 4th quarter. Gitterman Wealth Management LLC now owns 1,900 shares of the data storage provider's stock valued at $221,000 after buying an additional 114 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Price Performance

NTAP stock traded down $1.15 on Friday, reaching $105.27. 1,538,114 shares of the company's stock were exchanged, compared to its average volume of 1,914,460. The stock has a fifty day moving average of $101.93 and a 200-day moving average of $103.11. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The firm has a market cap of $21.09 billion, a PE ratio of 18.53, a P/E/G ratio of 2.43 and a beta of 1.42. 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 (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. NetApp had a return on equity of 126.96% and a net margin of 18.05%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the company posted $1.80 earnings per share. NetApp's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced 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 1.98%. The ex-dividend date is Thursday, July 3rd. NetApp's dividend payout ratio (DPR) is 36.62%.

Insider Buying and Selling at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 302 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $98.77, for a total value of $29,828.54. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $101.78, for a total value of $865,130.00. Following the completion of the sale, the chief executive officer directly owned 296,805 shares in the company, valued at $30,208,812.90. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,302 shares of company stock worth $1,590,514 in the last three months. 0.47% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NTAP shares. UBS Group cut 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. Citigroup lifted their price target on NetApp from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Monday, June 2nd. Evercore ISI decreased their price objective on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. cut their target price on shares of NetApp from $120.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Finally, Morgan Stanley reiterated a "cautious" rating on shares of NetApp in a research report on Tuesday, May 20th. One equities research 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 data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $117.79.

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.