NetApp, Inc. (NASDAQ:NTAP) Stock Position Decreased by Centiva Capital LP

Centiva Capital LP trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 48.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,225 shares of the data storage provider's stock after selling 5,791 shares during the period. Centiva Capital LP's holdings in NetApp were worth $769,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NTAP. Acadian Asset Management LLC boosted its stake in shares of NetApp by 17.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider's stock worth $359,517,000 after purchasing an additional 416,233 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of NetApp by 3.5% during the second quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider's stock valued at $309,811,000 after buying an additional 82,378 shares during the period. Dimensional Fund Advisors LP boosted its position in NetApp by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,737,578 shares of the data storage provider's stock worth $223,806,000 after acquiring an additional 196,952 shares during the last quarter. AQR Capital Management LLC grew its stake in NetApp by 59.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider's stock worth $211,637,000 after acquiring an additional 613,583 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in NetApp by 38.5% in the 3rd 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 during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Stock Up 1.8 %

Shares of NTAP traded up $2.32 during mid-day trading on Friday, reaching $131.11. 2,100,197 shares of the stock traded hands, compared to its average volume of 2,156,544. The stock has a fifty day simple moving average of $122.84 and a 200 day simple moving average of $123.72. NetApp, Inc. has a 12-month low of $83.62 and a 12-month high of $135.45. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The firm has a market cap of $26.66 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 3.09 and a beta of 1.23.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.09. The firm 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 firm's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. Sell-side analysts expect that NetApp, Inc. will post 5.83 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.08 annualized dividend and a yield of 1.59%. NetApp's dividend payout ratio is presently 38.24%.

Wall Street Analysts Forecast Growth

NTAP has been the topic of several analyst reports. Stifel Nicolaus raised their price objective on NetApp from $140.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. Oppenheimer started coverage on NetApp in a report on Wednesday, November 13th. They issued a "market perform" rating for the company. Loop Capital raised shares of NetApp from a "hold" rating to a "buy" rating and upped their price objective for the company from $121.00 to $150.00 in a research note on Tuesday, September 3rd. Bank of America raised their target price on shares of NetApp from $115.00 to $121.00 and gave the stock an "underperform" rating in a research report on Friday, November 22nd. Finally, Wells Fargo & Company upped their price target on shares of NetApp from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $137.40.

Insider Buying and Selling at NetApp

In related news, Director Thomas Michael Nevens sold 3,333 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $119.23, for a total value of $397,393.59. Following the completion of the sale, the director now directly owns 9,277 shares of the company's stock, valued at $1,106,096.71. The trade was a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lorenzo Daniel De sold 326 shares of the stock in a transaction that occurred on 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. Insiders have sold a total of 23,049 shares of company stock valued at $2,807,851 in the last three months. Corporate insiders own 0.47% of the company's stock.

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.