Amalgamated Bank Grows Holdings in NetApp, Inc. (NASDAQ:NTAP)

Amalgamated Bank increased its position in NetApp, Inc. (NASDAQ:NTAP) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,413 shares of the data storage provider’s stock after acquiring an additional 340 shares during the quarter. Amalgamated Bank’s holdings in NetApp were worth $5,362,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NTAP. Acadian Asset Management LLC increased its holdings in NetApp by 48.3% in the 1st quarter. Acadian Asset Management LLC now owns 2,375,366 shares of the data storage provider’s stock worth $249,307,000 after acquiring an additional 773,773 shares in the last quarter. AQR Capital Management LLC increased its holdings in NetApp by 59.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock worth $211,637,000 after acquiring an additional 613,583 shares in the last quarter. TD Asset Management Inc boosted its stake in NetApp by 26.5% in the 1st quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider’s stock worth $225,532,000 after purchasing an additional 450,263 shares during the period. TCW Group Inc. bought a new position in NetApp in the 2nd quarter worth approximately $56,313,000. Finally, APG Asset Management US Inc. bought a new position in NetApp in the 2nd quarter worth approximately $48,074,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 705 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction of $88,971.00. Following the completion of the transaction, the executive vice president now owns 11,694 shares of the company’s stock, valued at $1,475,782.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,890 shares of company stock worth $1,369,172. 0.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on NTAP shares. Loop Capital upgraded NetApp from a “hold” rating to a “buy” rating and upped their price target for the stock from $121.00 to $150.00 in a research note on Tuesday, September 3rd. UBS Group upped their price target on NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Wedbush restated a “neutral” rating and issued a $120.00 price target on shares of NetApp in a research note on Monday, August 26th. Stifel Nicolaus increased their target price on NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their target price on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, NetApp currently has a consensus rating of “Hold” and a consensus price target of $129.06.

NetApp Stock Up 1.4 %

NASDAQ:NTAP opened at $122.83 on Friday. NetApp, Inc. has a twelve month low of $74.82 and a twelve month high of $135.01. The company has a market cap of $25.15 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 4.33 and a beta of 1.24. The stock has a fifty day simple moving average of $120.87 and a 200-day simple moving average of $120.98. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34.

NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. Analysts anticipate that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were issued a $0.52 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.08 annualized dividend and a dividend yield of 1.69%. NetApp’s payout ratio is currently 40.63%.

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.