Kentucky Retirement Systems Sells 195 Shares of NetApp, Inc. (NASDAQ:NTAP)

Kentucky Retirement Systems reduced its holdings in NetApp, Inc. (NASDAQ:NTAP) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,126 shares of the data storage provider’s stock after selling 195 shares during the period. Kentucky Retirement Systems’ holdings in NetApp were worth $1,640,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in NTAP. Creative Planning increased its position in NetApp by 8.7% in the 3rd quarter. Creative Planning now owns 26,001 shares of the data storage provider’s stock worth $3,211,000 after buying an additional 2,073 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of NetApp by 279.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 57,470 shares of the data storage provider’s stock worth $7,098,000 after purchasing an additional 42,312 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of NetApp by 51.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,255 shares of the data storage provider’s stock worth $402,000 after purchasing an additional 1,099 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of NetApp by 25.4% during the 3rd quarter. Private Advisor Group LLC now owns 3,166 shares of the data storage provider’s stock worth $391,000 after purchasing an additional 642 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of NetApp by 1.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 27,091 shares of the data storage provider’s stock worth $3,346,000 after purchasing an additional 474 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Oppenheimer assumed coverage on NetApp in a report on Wednesday, November 13th. They set a “market perform” rating on the stock. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. StockNews.com raised NetApp from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Northland Securities boosted their price target on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. Finally, Citigroup boosted their price target on NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NetApp presently has a consensus rating of “Hold” and an average price target of $137.33.

Insider Buying and Selling at NetApp

In other news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,903 shares of company stock worth $7,260,341. 0.47% of the stock is currently owned by insiders.

NetApp Trading Down 0.1 %

Shares of NTAP opened at $124.47 on Monday. The stock has a fifty day moving average price of $120.12 and a two-hundred day moving average price of $122.00. 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 $85.28 and a 52-week high of $135.45. The company has a market cap of $25.31 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.45 and a beta of 1.23.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company posted $1.23 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

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.