Exchange Traded Concepts LLC Sells 199 Shares of NetApp, Inc. (NASDAQ:NTAP)

Exchange Traded Concepts LLC decreased its stake in NetApp, Inc. (NASDAQ:NTAP) by 8.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,050 shares of the data storage provider’s stock after selling 199 shares during the period. Exchange Traded Concepts LLC’s holdings in NetApp were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in NetApp by 8.2% during the third quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock valued at $738,280,000 after acquiring an additional 453,324 shares during the period. Robeco Institutional Asset Management B.V. increased its position in NetApp by 38.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,232,852 shares of the data storage provider’s stock worth $152,270,000 after purchasing an additional 342,415 shares during the last quarter. Unigestion Holding SA raised its stake in NetApp by 926.1% during the third quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider’s stock valued at $35,022,000 after purchasing an additional 256,028 shares in the last quarter. Weiss Asset Management LP bought a new position in NetApp during the third quarter valued at $27,721,000. Finally, Victory Capital Management Inc. grew its stake in shares of NetApp by 49.4% in the 3rd quarter. Victory Capital Management Inc. now owns 605,004 shares of the data storage provider’s stock worth $74,724,000 after buying an additional 200,081 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 451 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the transaction, the executive vice president now directly owns 12,005 shares in the company, valued at approximately $1,402,063.95. This trade represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now directly owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,610 shares of company stock worth $6,123,351 in the last ninety days. 0.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NTAP shares. Stifel Nicolaus upped their target price on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. TD Cowen boosted their price objective on NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Wells Fargo & Company raised their price objective on NetApp from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. StockNews.com raised NetApp from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley raised their price target on NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $139.20.

NetApp Stock Down 0.3 %

Shares of NTAP opened at $122.10 on Friday. The firm has a fifty day moving average price of $121.22 and a 200-day moving average price of $122.37. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $24.82 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.85 and a beta of 1.23. NetApp, Inc. has a 12-month low of $83.80 and a 12-month high of $135.45.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.09. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. Equities research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a $0.52 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.08 annualized dividend and a yield of 1.70%. NetApp’s dividend payout ratio (DPR) is currently 38.24%.

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.