NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Xponance Inc.

Xponance Inc. lessened its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 23.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,739 shares of the data storage provider's stock after selling 11,564 shares during the period. Xponance Inc.'s holdings in NetApp were worth $3,403,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Moors & Cabot Inc. increased its holdings in shares of NetApp by 3.6% in the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock worth $337,000 after acquiring an additional 100 shares during the period. Coppell Advisory Solutions LLC increased 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 buying an additional 100 shares during the period. Utah Retirement Systems increased its stake in NetApp by 0.3% during 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 during the period. Gitterman Wealth Management LLC increased its stake in NetApp by 6.4% during 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 during the period. Finally, Creative Financial Designs Inc. ADV increased its stake in NetApp by 11.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,096 shares of the data storage provider's stock valued at $127,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds own 92.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NTAP shares. UBS Group lowered their target price on shares of NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Evercore ISI lowered their target price on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a research note on Monday, April 28th. Barclays raised their target price on shares of NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Citigroup lifted their price objective on shares of NetApp from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Monday, June 2nd. Finally, Morgan Stanley reaffirmed a "cautious" rating on shares of NetApp in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $117.79.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 302 shares of NetApp stock in a transaction 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 sale, the chief accounting officer owned 455 shares in the company, valued at $44,940.35. The trade was a 39.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO George Kurian sold 8,500 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total transaction of $695,555.00. Following the completion of the sale, the chief executive officer owned 249,765 shares in the company, valued at $20,438,269.95. This represents a 3.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,302 shares of company stock worth $1,590,514. Insiders own 0.47% of the company's stock.

NetApp Stock Performance

Shares of NTAP opened at $105.27 on Monday. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The company has a 50-day moving average of $101.93 and a two-hundred day moving average of $103.11. The stock has a market cap of $21.09 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 2.43 and a beta of 1.42. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.25 and a quick ratio of 1.22.

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 18.05% and a return on equity of 126.96%. The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same period last year, the company posted $1.80 earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The firm 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. This represents a $2.08 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, July 3rd. NetApp's payout ratio is presently 36.62%.

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.

Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp, Inc. (NASDAQ:NTAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.