NetApp, Inc. (NASDAQ:NTAP) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,969 shares of the data storage provider’s stock after selling 625 shares during the quarter. IFM Investors Pty Ltd’s holdings in NetApp were worth $5,925,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTAP. Hollencrest Capital Management acquired a new stake in NetApp during the second quarter worth about $26,000. J.Safra Asset Management Corp increased its stake 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 purchasing an additional 226 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of NetApp in the third quarter valued at approximately $27,000. New Covenant Trust Company N.A. acquired a new stake in shares of NetApp in the first quarter valued at approximately $28,000. Finally, Redwood Wealth Management Group LLC acquired a new stake in shares of NetApp in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 705 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value 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 approximately $1,475,782.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NetApp news, EVP Elizabeth M. O’callahan sold 705 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the sale, the executive vice president now owns 11,694 shares in the company, valued at $1,475,782.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $126.11, for a total transaction of $1,071,935.00. Following the completion of the sale, the chief executive officer now owns 292,778 shares of the company’s stock, valued at approximately $36,922,233.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,890 shares of company stock valued at $1,369,172. Company insiders own 0.47% of the company’s stock.

NetApp Trading Down 0.4 %

Shares of NASDAQ:NTAP opened at $119.41 on Friday. The stock has a market capitalization of $24.45 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 4.49 and a beta of 1.23. NetApp, Inc. has a 1-year low of $70.82 and a 1-year high of $135.01. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. The company has a 50 day moving average price of $123.37 and a 200 day moving average price of $119.85.

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

NetApp Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Bank of America raised their price target on shares of NetApp from $105.00 to $110.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Loop Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating and raised their price target for the company from $121.00 to $150.00 in a research note on Tuesday, September 3rd. Susquehanna restated a “positive” rating and issued a $155.00 price target on shares of NetApp in a research note on Monday, August 26th. Finally, Citigroup increased their price objective on shares of NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $129.06.

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.