NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Hemenway Trust Co LLC

Hemenway Trust Co LLC lessened its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 7.6% during the third quarter, HoldingsChannel reports. The firm owned 24,250 shares of the data storage provider’s stock after selling 2,000 shares during the period. Hemenway Trust Co LLC’s holdings in NetApp were worth $2,995,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC raised its position in shares of NetApp by 17.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock valued at $359,517,000 after purchasing an additional 416,233 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of NetApp by 3.5% in the 2nd quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock valued at $309,811,000 after buying an additional 82,378 shares during the period. TD Asset Management Inc boosted its holdings in shares of NetApp by 26.5% in the 1st quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider’s stock valued at $225,532,000 after buying an additional 450,263 shares during the period. Epoch Investment Partners Inc. raised its stake in NetApp by 11.9% during the first quarter. Epoch Investment Partners Inc. now owns 1,982,787 shares of the data storage provider’s stock worth $208,133,000 after acquiring an additional 211,204 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in NetApp by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,737,578 shares of the data storage provider’s stock worth $223,806,000 after acquiring an additional 196,952 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of research reports. Citigroup increased their price target on NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Loop Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating and upped their price target for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Evercore ISI lifted their price objective on shares of NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research report on Monday, August 12th. Susquehanna restated a “positive” rating and issued a $155.00 target price on shares of NetApp in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. lifted their price target on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $129.06.

Insider Buying and Selling at NetApp

In related news, CAO Lorenzo Daniel De sold 1,685 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction on 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 of the company’s stock, valued at approximately $1,475,782.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 1,685 shares of the stock in a transaction on 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. Insiders have sold a total of 10,890 shares of company stock valued at $1,369,172 in the last three months. 0.47% of the stock is currently owned by company insiders.

NetApp Price Performance

NASDAQ:NTAP traded up $0.48 during trading hours on Tuesday, reaching $122.41. 43,263 shares of the company’s stock were exchanged, compared to its average volume of 1,803,735. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $25.07 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 4.65 and a beta of 1.24. NetApp, Inc. has a 12 month low of $76.41 and a 12 month high of $135.01. The business’s 50-day simple moving average is $121.03 and its two-hundred day simple moving average is $121.62.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted $0.84 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. Sell-side analysts expect that NetApp, Inc. will post 5.71 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Friday, October 4th. NetApp’s dividend payout ratio is 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.