Dorsey Wright & Associates Has $302,000 Position in NetApp, Inc. (NASDAQ:NTAP)

Dorsey Wright & Associates reduced its stake in NetApp, Inc. (NASDAQ:NTAP) by 20.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,341 shares of the data storage provider’s stock after selling 586 shares during the period. Dorsey Wright & Associates’ holdings in NetApp were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. First Trust Advisors LP boosted its stake in shares of NetApp by 57.5% in the 4th quarter. First Trust Advisors LP now owns 5,643,780 shares of the data storage provider’s stock valued at $497,556,000 after purchasing an additional 2,059,574 shares in the last quarter. Acadian Asset Management LLC raised its holdings in NetApp by 17.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock valued at $359,517,000 after buying an additional 416,233 shares during the last quarter. Legal & General Group Plc raised its holdings in NetApp by 3.5% in the 2nd quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock valued at $309,811,000 after buying an additional 82,378 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in NetApp by 254.8% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,304,512 shares of the data storage provider’s stock valued at $241,905,000 after buying an additional 1,654,942 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings 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 valued at $225,532,000 after buying an additional 450,263 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O’callahan sold 452 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $133.07, for a total value of $60,147.64. Following the transaction, the executive vice president now directly owns 11,886 shares of the company’s stock, valued at approximately $1,581,670.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Elizabeth M. O’callahan sold 452 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $133.07, for a total value of $60,147.64. Following the transaction, the executive vice president now directly owns 11,886 shares of the company’s stock, valued at approximately $1,581,670.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The disclosure for this sale can be found here. Insiders have sold 10,637 shares of company stock valued at $1,376,474 in the last three months. 0.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on NTAP. Barclays raised their price target on shares of NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Wells Fargo & Company raised their price target on shares of NetApp from $120.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 12th. Morgan Stanley raised their price target on shares of NetApp from $106.00 to $127.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 12th. Stifel Nicolaus lifted their price objective on shares of NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, UBS Group lifted their price objective on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $129.06.

NetApp Price Performance

NTAP opened at $121.24 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. The company has a market capitalization of $24.95 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 4.61 and a beta of 1.23. The firm’s fifty day moving average price is $123.27 and its two-hundred day moving average price is $117.10. NetApp, Inc. has a 1 year low of $70.82 and a 1 year high of $135.01.

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

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Friday, October 4th. NetApp’s dividend payout ratio is 44.83%.

About NetApp

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.