NetApp, Inc. (NASDAQ:NTAP) Stock Position Lifted by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 549,674 shares of the data storage provider's stock after acquiring an additional 11,015 shares during the period. Rhumbline Advisers owned 0.27% of NetApp worth $63,806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NTAP. AustralianSuper Pty Ltd lifted its stake in shares of NetApp by 27.4% during the 4th quarter. AustralianSuper Pty Ltd now owns 639,518 shares of the data storage provider's stock worth $74,235,000 after purchasing an additional 137,430 shares during the period. Banque Pictet & Cie SA acquired a new position in NetApp in the fourth quarter valued at $4,329,000. Asset Management One Co. Ltd. lifted its position in NetApp by 7.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 123,651 shares of the data storage provider's stock worth $14,462,000 after buying an additional 8,322 shares during the period. Avestar Capital LLC lifted its position in NetApp by 27.5% during the fourth quarter. Avestar Capital LLC now owns 3,524 shares of the data storage provider's stock worth $409,000 after buying an additional 761 shares during the period. Finally, Portfolio Design Labs LLC boosted its stake in NetApp by 28.6% in the 4th quarter. Portfolio Design Labs LLC now owns 20,725 shares of the data storage provider's stock worth $2,406,000 after buying an additional 4,608 shares during the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NetApp news, 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 value of $1,056,465.00. Following the completion of the transaction, the chief executive officer now directly owns 279,782 shares in the company, valued at $34,774,104.78. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Cesar Cernuda sold 22,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the sale, the president now owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,903 shares of company stock worth $7,260,341 over the last ninety days. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NTAP. Morgan Stanley increased their price objective on shares of NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 17th. Wedbush reaffirmed a "neutral" rating and set a $120.00 price target on shares of NetApp in a research note on Friday, November 22nd. Stifel Nicolaus lifted their price target on shares of NetApp from $140.00 to $145.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Oppenheimer started coverage on NetApp in a report on Wednesday, November 13th. They set a "market perform" rating for the company. Finally, Barclays increased their target price on NetApp from $119.00 to $132.00 and gave the stock an "equal weight" rating in a research report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $137.33.

NetApp Stock Up 0.0 %

Shares of NetApp stock traded up $0.02 during trading on Thursday, reaching $124.55. The company had a trading volume of 1,496,107 shares, compared to its average volume of 1,383,597. 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, Inc. has a fifty-two week low of $83.80 and a fifty-two week high of $135.45. The firm's fifty day moving average is $120.05 and its 200-day moving average is $121.84. The company has a market cap of $25.32 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.86 and a beta of 1.23.

NetApp (NASDAQ:NTAP - Get Free Report) last released its earnings results 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 company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. NetApp's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. On average, analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

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.