New York State Common Retirement Fund Decreases Holdings in NetApp, Inc. (NASDAQ:NTAP)

New York State Common Retirement Fund lessened its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 21.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,125 shares of the data storage provider's stock after selling 33,000 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of NetApp worth $14,837,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in NTAP. Hollencrest Capital Management acquired a new stake in shares of NetApp in the 2nd quarter valued at $26,000. J.Safra Asset Management Corp grew its position in NetApp by 706.3% in the first quarter. J.Safra Asset Management Corp now owns 258 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 226 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in NetApp in the third quarter valued at about $27,000. New Covenant Trust Company N.A. bought a new position in shares of NetApp in the first quarter worth about $28,000. Finally, Redwood Wealth Management Group LLC acquired a new stake in shares of NetApp in the 2nd quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.17% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on NTAP shares. Bank of America increased their price objective on shares of NetApp from $105.00 to $110.00 and gave the company an "underperform" rating in a research note on Thursday, August 29th. Loop Capital raised NetApp from a "hold" rating to a "buy" rating and upped their target price for the stock from $121.00 to $150.00 in a report on Tuesday, September 3rd. Wedbush restated a "neutral" rating and set a $120.00 price target on shares of NetApp in a report on Monday, August 26th. Barclays raised their price objective on shares of NetApp from $116.00 to $119.00 and gave the company an "equal weight" rating in a report on Thursday, August 29th. Finally, Evercore ISI boosted their target price on shares of NetApp from $120.00 to $130.00 and gave the stock an "in-line" rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, NetApp currently has an average rating of "Hold" and an average price target of $129.06.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O'callahan sold 705 shares of the company's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the sale, the executive vice president now owns 11,694 shares in the company, valued at $1,475,782.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Elizabeth M. O'callahan sold 705 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the sale, the executive vice president now owns 11,694 shares in the company, valued at $1,475,782.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 1,685 shares of the business's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,890 shares of company stock worth $1,369,172. Insiders own 0.47% of the company's stock.

NetApp Trading Up 4.1 %

Shares of NTAP stock traded up $4.73 during trading hours on Wednesday, hitting $121.13. 2,232,231 shares of the company were exchanged, compared to its average volume of 1,817,928. The company has a 50 day simple moving average of $120.87 and a two-hundred day simple moving average of $120.98. The firm has a market cap of $24.81 billion, a P/E ratio of 23.66, a P/E/G ratio of 4.33 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 fifty-two week low of $74.82 and a fifty-two week high of $135.01.

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

NetApp Dividend Announcement

The firm also recently declared 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 1.72%. NetApp's dividend payout ratio (DPR) is presently 40.63%.

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.