NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC trimmed its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,963 shares of the data storage provider’s stock after selling 285 shares during the period. Integrated Investment Consultants LLC’s holdings in NetApp were worth $344,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NTAP. AQR Capital Management LLC lifted its stake 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 purchasing an additional 613,583 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of NetApp by 8.2% in 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 in the last quarter. APG Asset Management US Inc. acquired a new stake in shares of NetApp in the second quarter valued at $48,074,000. Robeco Institutional Asset Management B.V. raised its stake in shares of 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 valued at $152,270,000 after acquiring an additional 342,415 shares in the last quarter. Finally, Unigestion Holding SA raised its stake in shares of NetApp by 926.1% in the third quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider’s stock valued at $35,022,000 after acquiring an additional 256,028 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Stock Performance

Shares of NTAP stock opened at $122.09 on Friday. The stock’s 50-day moving average is $120.88 and its two-hundred day moving average is $122.82. The firm has a market cap of $24.82 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 2.76 and a beta of 1.23. NetApp, Inc. has a 1 year low of $83.80 and a 1 year high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.09. The company had revenue of $1.66 billion for 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 business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.23 earnings per share. Analysts predict that NetApp, Inc. will post 5.88 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Friday, January 3rd. NetApp’s payout ratio is 38.24%.

Insiders Place Their Bets

In related news, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now owns 27,099 shares of the company’s stock, valued at $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lorenzo Daniel De sold 326 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was 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. Over the last 90 days, insiders have sold 51,610 shares of company stock valued at $6,149,531. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NTAP shares. Wells Fargo & Company increased 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. TD Cowen increased their price objective on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Oppenheimer started coverage on NetApp in a research note on Wednesday, November 13th. They issued a “market perform” rating on the stock. Northland Securities increased their price objective on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. Finally, Bank of America increased their target price on NetApp from $115.00 to $121.00 and gave the company an “underperform” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $139.20.

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.