Y Intercept Hong Kong Ltd Has $1.33 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Y Intercept Hong Kong Ltd grew its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 355.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,141 shares of the data storage provider's stock after purchasing an additional 11,813 shares during the period. Y Intercept Hong Kong Ltd's holdings in NetApp were worth $1,330,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Olde Wealth Management LLC bought a new position in shares of NetApp in the first quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of NetApp by 54.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider's stock valued at $31,000 after purchasing an additional 124 shares in the last quarter. Itau Unibanco Holding S.A. raised its position in NetApp by 929.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after purchasing an additional 251 shares during the last quarter. Coppell Advisory Solutions LLC lifted its holdings in NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock worth $35,000 after buying an additional 100 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new position in NetApp in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 92.17% of the company's stock.

Insider Buying and Selling

In other NetApp news, CEO George Kurian sold 8,500 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $108.08, for a total transaction of $918,680.00. Following the completion of the transaction, the chief executive officer owned 288,305 shares of the company's stock, valued at $31,160,004.40. This represents a 2.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lorenzo Daniel De sold 302 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 455 shares of the company's stock, valued at approximately $44,940.35. This trade represents a 39.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,302 shares of company stock valued at $1,920,479. 0.47% of the stock is owned by corporate insiders.

NetApp Trading Up 0.3%

Shares of NTAP stock traded up $0.28 on Friday, reaching $104.94. The company had a trading volume of 893,151 shares, compared to its average volume of 2,098,068. The company has a 50-day moving average of $103.68 and a 200-day moving average of $102.61. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.39. The stock has a market cap of $21.03 billion, a PE ratio of 18.48, a PEG ratio of 2.44 and a beta of 1.42.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its 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 return on equity of 126.96% and a net margin of 18.05%. The business 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 business earned $1.80 EPS. NetApp's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.98%. NetApp's payout ratio is 36.62%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Evercore ISI dropped their target price on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a research report on Monday, April 28th. UBS Group dropped their price objective on NetApp from $115.00 to $108.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Citigroup boosted their price objective on NetApp from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Monday, June 2nd. JPMorgan Chase & Co. boosted their price objective on NetApp from $115.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, Morgan Stanley reissued a "cautious" rating on shares of NetApp in a report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently 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.