Louisiana State Employees Retirement System Has $901,000 Stake in NetApp Inc. (NTAP)

Louisiana State Employees Retirement System trimmed its position in NetApp Inc. (NASDAQ:NTAP) by 1.5% in the first quarter, Holdings Channel reports. The institutional investor owned 13,000 shares of the data storage provider’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in NetApp were worth $901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of NTAP. FTB Advisors Inc. raised its stake in NetApp by 14.6% during the 4th quarter. FTB Advisors Inc. now owns 1,318 shares of the data storage provider’s stock valued at $78,000 after purchasing an additional 168 shares during the last quarter. LS Investment Advisors LLC raised its stake in NetApp by 2.3% during the 4th quarter. LS Investment Advisors LLC now owns 7,681 shares of the data storage provider’s stock valued at $458,000 after purchasing an additional 173 shares during the last quarter. Huntington National Bank raised its stake in NetApp by 13.4% during the 4th quarter. Huntington National Bank now owns 2,122 shares of the data storage provider’s stock valued at $127,000 after purchasing an additional 251 shares during the last quarter. Suntrust Banks Inc. raised its stake in NetApp by 6.8% during the 4th quarter. Suntrust Banks Inc. now owns 5,582 shares of the data storage provider’s stock valued at $333,000 after purchasing an additional 354 shares during the last quarter. Finally, CWM Advisors LLC raised its stake in NetApp by 12.1% during the 4th quarter. CWM Advisors LLC now owns 3,664 shares of the data storage provider’s stock valued at $219,000 after purchasing an additional 396 shares during the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.

Shares of NetApp stock opened at $77.69 on Friday. The firm has a market capitalization of $19.19 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 1.36 and a beta of 1.40. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.53 and a current ratio of 1.56. NetApp Inc. has a 52-week low of $54.50 and a 52-week high of $88.08.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, February 13th. The data storage provider reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.05. NetApp had a net margin of 16.85% and a return on equity of 60.32%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts expect that NetApp Inc. will post 4.04 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, April 4th. NetApp’s payout ratio is 53.51%.

In other news, EVP Henri P. Richard sold 5,050 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $66.01, for a total value of $333,350.50. Following the sale, the executive vice president now owns 56,707 shares of the company’s stock, valued at approximately $3,743,229.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Joel D. Reich sold 20,000 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $64.04, for a total transaction of $1,280,800.00. Following the completion of the sale, the vice president now directly owns 744 shares in the company, valued at approximately $47,645.76. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

NTAP has been the subject of several research analyst reports. Cross Research upgraded shares of NetApp from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Citigroup cut their target price on shares of NetApp from $77.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, February 14th. Loop Capital cut their target price on shares of NetApp to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Morgan Stanley cut shares of NetApp from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $72.00 to $58.00 in a research note on Tuesday, January 15th. Finally, Bank of America reiterated a “buy” rating and set a $90.00 target price on shares of NetApp in a research note on Monday, February 11th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. NetApp currently has a consensus rating of “Buy” and an average price target of $77.88.

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NetApp Profile

NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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