NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Edmp Inc.

Edmp Inc. reduced its position in NetApp, Inc. (NASDAQ:NTAP) by 16.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,273 shares of the data storage provider’s stock after selling 649 shares during the quarter. Edmp Inc.’s holdings in NetApp were worth $380,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Core Alternative Capital raised its holdings in shares of NetApp by 11.5% during the 4th quarter. Core Alternative Capital now owns 45,941 shares of the data storage provider’s stock valued at $5,333,000 after buying an additional 4,721 shares during the period. Savant Capital LLC raised its holdings in shares of NetApp by 9.6% during the 4th quarter. Savant Capital LLC now owns 6,987 shares of the data storage provider’s stock valued at $811,000 after buying an additional 614 shares during the period. Wealthstar Advisors LLC purchased a new stake in NetApp during the 4th quarter worth approximately $1,167,000. Kingsview Wealth Management LLC increased its holdings in NetApp by 208.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 24,141 shares of the data storage provider’s stock worth $2,802,000 after purchasing an additional 16,311 shares during the last quarter. Finally, Vest Financial LLC increased its holdings in NetApp by 61.7% during the 4th quarter. Vest Financial LLC now owns 23,525 shares of the data storage provider’s stock worth $2,731,000 after purchasing an additional 8,975 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com upgraded NetApp from a “hold” rating to a “buy” rating in a report on Tuesday, January 28th. Bank of America lifted their target price on NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a research report on Friday, November 22nd. Oppenheimer began coverage on NetApp in a research report on Wednesday, November 13th. They issued a “market perform” rating for the company. Wells Fargo & Company lifted their target price on NetApp from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Finally, Wedbush reiterated a “neutral” rating and issued a $120.00 target price on shares of NetApp in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, NetApp presently has an average rating of “Hold” and an average price target of $137.53.

NetApp Stock Performance

NTAP opened at $123.02 on Tuesday. 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 52-week low of $83.80 and a 52-week high of $135.45. The firm has a market cap of $25.01 billion, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 2.94 and a beta of 1.23. The business’s fifty day moving average is $120.99 and its 200-day moving average is $122.04.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.78 by $0.09. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS. Sell-side analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, January 3rd. NetApp’s dividend payout ratio is presently 38.24%.

Insider Activity

In related news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction that occurred on 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 sale, the president now directly owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 326 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $117.44, for a total transaction of $38,285.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,110 shares of company stock worth $7,632,601. Insiders own 0.47% of the company’s stock.

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.