NetApp, Inc. (NASDAQ:NTAP) Holdings Trimmed by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 223,938 shares of the data storage provider's stock after selling 2,831 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of NetApp worth $25,995,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Resonant Capital Advisors LLC raised its position in 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 purchasing an additional 80 shares during the period. Geneos Wealth Management Inc. raised its position in NetApp by 22.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock valued at $64,000 after purchasing an additional 100 shares during the period. OLD National Bancorp IN raised its position in NetApp by 3.5% in the third quarter. OLD National Bancorp IN now owns 3,492 shares of the data storage provider's stock valued at $431,000 after purchasing an additional 118 shares during the period. Ballentine Partners LLC raised its position in NetApp by 4.5% in the third quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider's stock valued at $340,000 after purchasing an additional 118 shares during the period. Finally, V Square Quantitative Management LLC grew its stake in shares of NetApp by 2.4% during the third quarter. V Square Quantitative Management LLC now owns 5,108 shares of the data storage provider's stock valued at $631,000 after acquiring an additional 120 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Stock Performance

Shares of NTAP traded up $4.01 during mid-day trading on Wednesday, reaching $124.53. 2,112,919 shares of the company's stock traded hands, compared to its average volume of 1,377,419. NetApp, Inc. has a 12 month low of $83.80 and a 12 month high of $135.45. The stock has a market capitalization of $25.32 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 2.83 and a beta of 1.23. The business's 50-day moving average price is $120.01 and its 200-day moving average price is $121.82. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the previous year, the company earned $1.23 earnings per share. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a dividend of $0.52 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.08 annualized dividend and a yield of 1.67%. NetApp's payout ratio is 38.24%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on NetApp from $135.00 to $140.00 and gave the company an "equal weight" rating in a research note on Friday, November 22nd. TD Cowen lifted their price target on NetApp from $145.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $121.00 to $128.00 in a research note on Wednesday. Citigroup lifted their price target on NetApp from $130.00 to $135.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Finally, Wedbush reiterated a "neutral" rating and issued a $120.00 price target on shares of NetApp in a research note on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, NetApp has a consensus rating of "Hold" and an average price target of $138.00.

Insider Buying and Selling

In other NetApp news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the transaction, the president now owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the completion of the transaction, the chief executive officer now owns 279,782 shares in the company, valued at approximately $34,774,104.78. This trade represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,403 shares of company stock valued at $6,248,501 over the last quarter. Corporate insiders own 0.47% of the company's stock.

NetApp Company 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.