Nordea Investment Management AB Trims Holdings in NetApp, Inc. (NASDAQ:NTAP)

Nordea Investment Management AB lessened its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 5.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 249,297 shares of the data storage provider's stock after selling 14,376 shares during the quarter. Nordea Investment Management AB owned approximately 0.12% of NetApp worth $28,951,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aviso Wealth Management increased its holdings in shares of NetApp by 1.4% in the 2nd quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider's stock valued at $792,000 after acquiring an additional 83 shares during the last quarter. Quarry LP increased its stake in NetApp by 11.7% in the second quarter. Quarry LP now owns 876 shares of the data storage provider's stock valued at $113,000 after purchasing an additional 92 shares during the last quarter. Elo Mutual Pension Insurance Co raised its holdings in NetApp by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider's stock worth $2,437,000 after purchasing an additional 95 shares in the last quarter. OLD National Bancorp IN lifted its position in shares of NetApp by 3.5% during the 3rd quarter. OLD National Bancorp IN now owns 3,492 shares of the data storage provider's stock worth $431,000 after buying an additional 118 shares during the last quarter. Finally, Ballentine Partners LLC boosted its holdings in shares of NetApp by 4.5% in the 3rd quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider's stock valued at $340,000 after buying an additional 118 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NetApp news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Elizabeth M. O'callahan sold 705 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total transaction 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 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,864 shares of company stock worth $6,185,830. 0.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays lifted their price target on shares of NetApp from $119.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Friday, November 22nd. Citigroup lifted their target price on NetApp from $130.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Oppenheimer initiated coverage on NetApp in a research report on Wednesday, November 13th. They issued a "market perform" rating for the company. Wedbush reaffirmed a "neutral" rating and set a $120.00 price target on shares of NetApp in a research report on Friday, November 22nd. Finally, Northland Securities increased their price objective on NetApp from $108.00 to $120.00 and gave the company a "market perform" rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $139.20.

NetApp Stock Performance

NASDAQ:NTAP traded up $0.91 during mid-day trading on Wednesday, reaching $118.09. The stock had a trading volume of 1,117,943 shares, compared to its average volume of 1,245,009. NetApp, Inc. has a twelve month low of $83.80 and a twelve month high of $135.45. The business has a 50 day simple moving average of $120.96 and a 200 day simple moving average of $123.33. The firm has a market capitalization of $24.01 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.92 and a beta of 1.23. 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 quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.09. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The business's revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 EPS. On average, analysts expect that NetApp, Inc. will post 5.83 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors 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 1.76%. NetApp's dividend payout ratio is presently 38.24%.

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.