Brown Brothers Harriman & Co. Has $535,000 Holdings in NetApp, Inc. (NASDAQ:NTAP)

Brown Brothers Harriman & Co. reduced its position in NetApp, Inc. (NASDAQ:NTAP) by 2.0% during the third quarter, Holdings Channel.com reports. The firm owned 4,328 shares of the data storage provider’s stock after selling 90 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in NetApp were worth $535,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. AQR Capital Management LLC raised its holdings in NetApp by 59.6% during the second quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock worth $211,637,000 after buying an additional 613,583 shares during the last quarter. TCW Group Inc. acquired a new stake in shares of NetApp in the 2nd quarter worth about $56,313,000. Acadian Asset Management LLC lifted its position 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 acquiring an additional 416,233 shares in the last quarter. APG Asset Management US Inc. acquired a new position in NetApp during the 2nd quarter valued at about $48,074,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in NetApp by 38.5% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Stock Performance

NASDAQ:NTAP opened at $129.60 on Wednesday. The company has a market capitalization of $26.54 billion, a P/E ratio of 23.82, a P/E/G ratio of 3.04 and a beta of 1.24. The business has a fifty day simple moving average of $122.25 and a two-hundred day simple moving average of $122.96. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp, Inc. has a 1 year low of $77.56 and a 1 year high of $135.45.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.09. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 EPS. On average, analysts expect that NetApp, Inc. will post 5.79 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, January 3rd. NetApp’s payout ratio is currently 38.24%.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 705 shares of the firm’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 completion of the transaction, the executive vice president now owns 11,694 shares in the company, valued at $1,475,782.80. This trade represents a 5.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 326 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $117.44, for a total value of $38,285.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,049 shares of company stock valued at $2,807,851. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NTAP shares. Susquehanna reaffirmed a “positive” rating and set a $155.00 target price on shares of NetApp in a research report on Monday, August 26th. Evercore ISI lifted their price objective on shares of NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a report on Monday, August 12th. Oppenheimer began coverage on shares of NetApp in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. Stifel Nicolaus boosted their price target on shares of NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company increased their price objective on shares of NetApp from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $134.00.

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.