California Public Employees Retirement System Has $110.33 Million Position in NetApp, Inc. (NASDAQ:NTAP)

California Public Employees Retirement System decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 950,459 shares of the data storage provider's stock after selling 23,568 shares during the period. California Public Employees Retirement System owned approximately 0.47% of NetApp worth $110,329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NTAP. Resonant Capital Advisors LLC grew its stake in shares of NetApp by 1.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock valued at $516,000 after acquiring an additional 80 shares in the last quarter. Larson Financial Group LLC grew its position in shares of NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock worth $438,000 after purchasing an additional 92 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock worth $64,000 after purchasing an additional 100 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of NetApp by 3.6% during the fourth quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock worth $337,000 after purchasing an additional 100 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in shares of NetApp by 2.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock valued at $534,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

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Analyst Ratings Changes

NTAP has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Loop Capital decreased their price target on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Citigroup reduced their price objective on shares of NetApp from $135.00 to $110.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Finally, Wedbush restated a "neutral" rating and issued a $110.00 target price (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $129.07.

NetApp Price Performance

Shares of NTAP traded up $1.00 during trading hours on Wednesday, reaching $90.49. The stock had a trading volume of 1,591,116 shares, compared to its average volume of 1,861,177. The stock has a market capitalization of $18.41 billion, a PE ratio of 16.63, a PEG ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 12 month low of $86.40 and a 12 month 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. The company's 50-day moving average is $107.74 and its two-hundred day moving average is $116.68.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th 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 2.30%. The ex-dividend date is Friday, April 4th. NetApp's payout ratio is 38.52%.

Insider Activity

In other NetApp news, President Cesar Cernuda sold 19,696 shares of the company's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $90.15, for a total value of $1,775,594.40. Following the sale, the president now owns 11,928 shares in the company, valued at approximately $1,075,309.20. The trade was a 62.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anders Gustafsson acquired 2,800 shares of the stock in a transaction dated Thursday, March 27th. The shares were bought at an average price of $91.00 per share, with a total value of $254,800.00. Following the completion of the transaction, the director now directly owns 6,348 shares of the company's stock, valued at $577,668. The trade was a 78.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 50,627 shares of company stock valued at $5,498,573. 0.47% of the stock is currently owned by corporate insiders.

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.