Ronald Blue Trust Inc. lowered its holdings in shares of NetApp, Inc. (NASDAQ:NTAP – Free Report) by 73.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 597 shares of the data storage provider’s stock after selling 1,689 shares during the quarter. Ronald Blue Trust Inc.’s holdings in NetApp were worth $38,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of NetApp by 52.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 443 shares of the data storage provider’s stock worth $28,000 after buying an additional 152 shares during the period. Sunbelt Securities Inc. acquired a new position in NetApp during the 1st quarter valued at about $28,000. Global Retirement Partners LLC increased its holdings in shares of NetApp by 51.6% in the first quarter. Global Retirement Partners LLC now owns 464 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 158 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of NetApp in the fourth quarter valued at about $31,000. Finally, Caldwell Sutter Capital Inc. acquired a new position in shares of NetApp in the first quarter valued at about $34,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.
Insiders Place Their Bets
In other news, EVP Elizabeth M. O’callahan sold 871 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.58, for a total transaction of $69,314.18. Following the sale, the executive vice president now owns 12,770 shares of the company’s stock, valued at approximately $1,016,236.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Elizabeth M. O’callahan sold 872 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $75.83, for a total transaction of $66,123.76. Following the sale, the executive vice president now owns 13,081 shares of the company’s stock, valued at approximately $991,932.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 871 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.58, for a total value of $69,314.18. Following the sale, the executive vice president now directly owns 12,770 shares in the company, valued at approximately $1,016,236.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,490 shares of company stock worth $3,723,069. Company insiders own 0.37% of the company’s stock.
NetApp Stock Performance
NetApp (NASDAQ:NTAP – Get Free Report) last released its earnings results on Wednesday, August 23rd. The data storage provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.08. NetApp had a return on equity of 85.69% and a net margin of 19.49%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm posted $0.97 EPS. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. As a group, equities research analysts forecast that NetApp, Inc. will post 4.48 EPS for the current year.
NetApp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, October 5th. NetApp’s payout ratio is 36.17%.
Analyst Ratings Changes
A number of equities analysts have issued reports on NTAP shares. Evercore ISI increased their price target on NetApp from $72.00 to $80.00 in a research report on Wednesday, July 5th. Morgan Stanley upgraded NetApp from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $60.00 to $74.00 in a research report on Wednesday, July 26th. Raymond James increased their price target on NetApp from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, August 24th. William Blair cut NetApp from an “outperform” rating to a “market perform” rating in a report on Monday, September 18th. Finally, Northland Securities cut their price target on NetApp from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $78.35.
Check Out Our Latest Stock Report on NetApp
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.
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