New York Life Investment Management LLC Has $2.55 Million Position in NetApp, Inc. (NASDAQ:NTAP)

New York Life Investment Management LLC decreased its holdings in NetApp, Inc. (NASDAQ:NTAPFree Report) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,573 shares of the data storage provider’s stock after selling 807 shares during the period. New York Life Investment Management LLC’s holdings in NetApp were worth $2,548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Oppenheimer & Co. Inc. increased its stake in shares of NetApp by 5.0% during the third quarter. Oppenheimer & Co. Inc. now owns 16,143 shares of the data storage provider’s stock worth $1,225,000 after purchasing an additional 774 shares during the period. Kingsview Wealth Management LLC grew its position in NetApp by 73.8% during the third quarter. Kingsview Wealth Management LLC now owns 86,881 shares of the data storage provider’s stock worth $6,593,000 after buying an additional 36,905 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in NetApp during the third quarter worth approximately $2,216,000. Great Lakes Advisors LLC grew its position in NetApp by 32.8% during the third quarter. Great Lakes Advisors LLC now owns 19,187 shares of the data storage provider’s stock worth $1,456,000 after buying an additional 4,743 shares in the last quarter. Finally, Knowledge Leaders Capital LLC acquired a new stake in NetApp during the third quarter worth approximately $993,000. Institutional investors own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NTAP. Stifel Nicolaus increased their price target on NetApp from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Wedbush raised their target price on NetApp from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, November 29th. Citigroup raised their target price on NetApp from $83.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, November 30th. JPMorgan Chase & Co. downgraded NetApp from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $89.00 to $87.00 in a report on Monday, January 8th. Finally, Northland Securities downgraded NetApp from an “outperform” rating to a “market perform” rating and set a $100.00 target price on the stock. in a report on Wednesday, November 29th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, NetApp has an average rating of “Hold” and a consensus price target of $84.50.

Get Our Latest Stock Analysis on NTAP

NetApp Stock Performance

NTAP stock opened at $87.20 on Tuesday. The stock has a 50-day moving average price of $88.06 and a 200-day moving average price of $80.57. NetApp, Inc. has a 1-year low of $59.73 and a 1-year high of $91.78. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 2.59. The firm has a market cap of $17.97 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28.

NetApp (NASDAQ:NTAPGet Free Report) last posted its quarterly earnings data on Tuesday, November 28th. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.19. NetApp had a return on equity of 94.77% and a net margin of 11.34%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted $1.20 EPS. The business’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities research analysts expect that NetApp, Inc. will post 4.85 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is presently 62.11%.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $86.27, for a total value of $75,141.17. Following the completion of the transaction, the executive vice president now directly owns 10,856 shares of the company’s stock, valued at approximately $936,547.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Elizabeth M. O’callahan sold 871 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $86.27, for a total value of $75,141.17. Following the completion of the sale, the executive vice president now directly owns 10,856 shares of the company’s stock, valued at approximately $936,547.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael J. Berry sold 7,500 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $85.82, for a total value of $643,650.00. Following the completion of the sale, the chief financial officer now directly owns 165,422 shares of the company’s stock, valued at $14,196,516.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,242 shares of company stock valued at $796,746. Corporate insiders own 0.37% of the company’s stock.

About NetApp

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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