NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. cut its holdings in NetApp, Inc. (NASDAQ:NTAP) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,937 shares of the data storage provider’s stock after selling 314 shares during the period. Hartford Investment Management Co.’s holdings in NetApp were worth $1,598,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in shares of NetApp in the second quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new stake in NetApp during the 3rd quarter valued at $27,000. Redwood Wealth Management Group LLC acquired a new position in shares of NetApp in the second quarter worth $32,000. J.Safra Asset Management Corp lifted its position in shares of NetApp by 706.3% in the first quarter. J.Safra Asset Management Corp now owns 258 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 226 shares in the last quarter. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of NetApp during the first quarter valued at $28,000. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Performance

Shares of NTAP stock opened at $119.84 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. The company has a market cap of $24.54 billion, a PE ratio of 23.41, a P/E/G ratio of 4.49 and a beta of 1.23. The company’s fifty day simple moving average is $123.60 and its 200-day simple moving average is $119.85. NetApp, Inc. has a 52 week low of $70.82 and a 52 week high of $135.01.

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

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Friday, October 4th. NetApp’s dividend payout ratio is presently 40.63%.

Analysts Set New Price Targets

NTAP has been the subject of several analyst reports. Susquehanna reissued a “positive” rating and issued a $155.00 target price on shares of NetApp in a research note on Monday, August 26th. UBS Group upped 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. Bank of America lifted their target price on shares of NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Evercore ISI increased their price target on NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a research note on Monday, August 12th. Finally, Barclays lifted their price objective on NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. One research 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $129.06.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 705 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total transaction of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, 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 value of $88,971.00. Following the transaction, the executive vice president now owns 11,694 shares in the company, valued at approximately $1,475,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 1,685 shares of the 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 disclosure for this sale can be found here. Insiders sold 10,890 shares of company stock valued at $1,369,172 over the last 90 days. 0.47% of the stock is owned by corporate insiders.

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.