New York State Teachers Retirement System Lowers Position in NetApp, Inc. (NASDAQ:NTAP)

New York State Teachers Retirement System decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 3.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 215,749 shares of the data storage provider's stock after selling 8,189 shares during the period. New York State Teachers Retirement System owned 0.11% of NetApp worth $18,951,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Larson Financial Group LLC raised its stake in NetApp by 2.5% during the fourth quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after buying an additional 92 shares during the last quarter. Moors & Cabot Inc. increased its holdings in shares of NetApp by 3.6% during the fourth quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock valued at $337,000 after acquiring an additional 100 shares in the last quarter. Coppell Advisory Solutions LLC boosted its stake in NetApp by 50.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock worth $35,000 after purchasing an additional 100 shares in the last quarter. Utah Retirement Systems raised its holdings in NetApp by 0.3% in the fourth quarter. Utah Retirement Systems now owns 34,152 shares of the data storage provider's stock worth $3,964,000 after buying an additional 100 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of NetApp by 2.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock worth $534,000 after buying an additional 111 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Stock Performance

Shares of NetApp stock traded down $0.14 on Friday, hitting $107.48. 940,236 shares of the company's stock were exchanged, compared to its average volume of 1,923,961. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The company has a 50-day simple moving average of $99.90 and a 200-day simple moving average of $103.83. 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 stock has a market capitalization of $21.53 billion, a PE ratio of 18.92, a PEG ratio of 2.48 and a beta of 1.42.

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

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, July 3rd. NetApp's dividend payout ratio is 36.62%.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 302 shares of the 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 completion of the sale, the chief accounting officer owned 455 shares in the company, valued at approximately $44,940.35. This represents a 39.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO George Kurian sold 8,500 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 296,805 shares in the company, valued at $30,208,812.90. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,302 shares of company stock worth $1,590,514. 0.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley reissued a "cautious" rating on shares of NetApp in a research report on Tuesday, May 20th. Wells Fargo & Company reduced their target price on NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. UBS Group decreased their price target on NetApp from $115.00 to $108.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Barclays increased their price objective on NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. decreased their target price on NetApp from $120.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.