NetApp, Inc. (NASDAQ:NTAP) Stock Holdings Lessened by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,114 shares of the data storage provider's stock after selling 11,562 shares during the quarter. Nisa Investment Advisors LLC's holdings in NetApp were worth $5,544,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NTAP. Assetmark Inc. lifted its holdings in shares of NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after purchasing an additional 215 shares during the last quarter. Olde Wealth Management LLC acquired a new stake in NetApp during the 1st quarter worth about $29,000. Itau Unibanco Holding S.A. raised its holdings 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 worth $32,000 after buying an additional 251 shares during the period. Coppell Advisory Solutions LLC lifted its stake in NetApp by 50.0% during the fourth 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. Finally, Park Square Financial Group LLC acquired a new position in shares of NetApp in the fourth quarter worth about $36,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NTAP. UBS Group cut their price target on shares of NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Barclays raised their target price on NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Evercore ISI dropped their price target on NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a research report on Monday, April 28th. Morgan Stanley restated a "cautious" rating on shares of NetApp in a research report on Tuesday, May 20th. Finally, Wedbush reaffirmed a "neutral" rating and set a $110.00 target price on shares of NetApp in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $117.79.

Insider Buying and Selling

In other news, CAO Lorenzo Daniel De sold 302 shares of NetApp 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 transaction, the chief accounting officer owned 455 shares of the company's stock, valued at $44,940.35. This trade represents a 39.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $101.78, for a total transaction of $865,130.00. Following the sale, the chief executive officer directly owned 296,805 shares of the company's stock, valued at approximately $30,208,812.90. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,302 shares of company stock valued at $1,590,514 in the last ninety days. Company insiders own 0.47% of the company's stock.

NetApp Stock Performance

NTAP stock opened at $105.27 on Friday. The firm has a 50 day moving average of $101.93 and a two-hundred day moving average of $103.32. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The company has a market capitalization of $21.09 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 2.45 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 issued its quarterly earnings data 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 firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same period in the prior year, the company posted $1.80 earnings per share. NetApp's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

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

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