NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 47.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 30,321 shares of the data storage provider's stock after selling 27,149 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in NetApp were worth $3,515,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC increased its stake in NetApp by 8.9% in the 3rd quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider's stock valued at $37,301,000 after buying an additional 24,651 shares during the period. Daiwa Securities Group Inc. increased its stake in NetApp by 20.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider's stock valued at $5,225,000 after buying an additional 7,318 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in NetApp by 9.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider's stock valued at $156,268,000 after buying an additional 113,360 shares during the period. Hilton Capital Management LLC acquired a new position in NetApp in the 3rd quarter valued at $4,059,000. Finally, Orion Portfolio Solutions LLC increased its stake in NetApp by 232.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider's stock valued at $831,000 after buying an additional 4,705 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NTAP. Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $121.00 to $128.00 in a research note on Wednesday. JPMorgan Chase & Co. raised shares of NetApp from a "neutral" rating to an "overweight" rating and set a $160.00 price target on the stock in a research note on Monday, December 16th. Morgan Stanley upped their price target on shares of NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Wedbush reaffirmed a "neutral" rating and set a $120.00 price target on shares of NetApp in a research note on Friday, November 22nd. Finally, Wells Fargo & Company lowered their price target on shares of NetApp from $140.00 to $130.00 and set an "equal weight" rating on the stock in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $137.33.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the transaction, the chief executive officer now directly owns 279,782 shares in the company, valued at $34,774,104.78. This represents a 2.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Elizabeth M. O'callahan sold 451 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $116.79, for a total transaction of $52,672.29. Following the transaction, the executive vice president now owns 12,005 shares in the company, valued at approximately $1,402,063.95. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,903 shares of company stock worth $7,260,341 in the last three months. Company insiders own 0.47% of the company's stock.

NetApp Trading Down 0.1 %

NASDAQ:NTAP traded down $0.08 on Friday, reaching $124.47. The stock had a trading volume of 2,975,285 shares, compared to its average volume of 1,430,411. The company has a market cap of $25.31 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 2.96 and a beta of 1.23. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The firm's fifty day moving average is $120.07 and its two-hundred day moving average is $121.86. NetApp, Inc. has a 12-month low of $85.28 and a 12-month high of $135.45.

NetApp (NASDAQ:NTAP - Get Free Report) 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 business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company's revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 EPS. Equities analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

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.