NetApp, Inc. (NASDAQ:NTAP) Stock Holdings Trimmed by Easterly Investment Partners LLC

Easterly Investment Partners LLC trimmed its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 49.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,019 shares of the data storage provider's stock after selling 8,000 shares during the quarter. Easterly Investment Partners LLC's holdings in NetApp were worth $990,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NTAP. Bessemer Group Inc. raised its position in NetApp by 46.1% in the first quarter. Bessemer Group Inc. now owns 16,720 shares of the data storage provider's stock worth $1,754,000 after acquiring an additional 5,273 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of NetApp during the first quarter valued at $473,000. Russell Investments Group Ltd. boosted its stake in shares of NetApp by 60.5% during the first quarter. Russell Investments Group Ltd. now owns 527,064 shares of the data storage provider's stock valued at $55,355,000 after acquiring an additional 198,627 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of NetApp by 221.9% during the first quarter. National Bank of Canada FI now owns 301,699 shares of the data storage provider's stock valued at $32,731,000 after acquiring an additional 207,968 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of NetApp by 63.9% during the first quarter. Sei Investments Co. now owns 343,218 shares of the data storage provider's stock valued at $36,025,000 after acquiring an additional 133,813 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Stock Up 1.0 %

Shares of NASDAQ:NTAP traded up $1.18 during mid-day trading on Friday, hitting $124.01. 1,367,649 shares of the company traded hands, compared to its average volume of 1,341,136. The firm has a market cap of $25.39 billion, a P/E ratio of 24.22, a PEG ratio of 4.55 and a beta of 1.24. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. NetApp, Inc. has a 52-week low of $75.32 and a 52-week high of $135.01. The firm's 50 day simple moving average is $121.01 and its 200 day simple moving average is $121.17.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm earned $0.84 EPS. NetApp's quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts anticipate that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a yield of 1.68%. NetApp's dividend payout ratio (DPR) is presently 40.63%.

Wall Street Analysts Forecast Growth

NTAP has been the topic of several recent analyst reports. Loop Capital upgraded NetApp from a "hold" rating to a "buy" rating and increased their target price for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. increased their target price on NetApp from $146.00 to $147.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. Stifel Nicolaus increased their target price on NetApp from $138.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Wedbush reiterated a "neutral" rating and set a $120.00 target price on shares of NetApp in a research report on Monday, August 26th. Finally, UBS Group increased their target price on NetApp from $121.00 to $134.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $129.06.

Insider Transactions at NetApp

In other news, CAO Lorenzo Daniel De sold 1,685 shares of NetApp stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total value of $208,266.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Elizabeth M. O'callahan sold 705 shares of the business's stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction of $88,971.00. Following the completion of the transaction, the executive vice president now owns 11,694 shares in the company, valued at $1,475,782.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 1,685 shares of NetApp stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,890 shares of company stock worth $1,369,172. 0.47% of the stock is currently owned by corporate insiders.

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.