NetApp Inc. (NASDAQ:NTAP) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its holdings in NetApp Inc. (NASDAQ:NTAP) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,538 shares of the data storage provider’s stock after selling 244 shares during the period. Commonwealth Equity Services LLC’s holdings in NetApp were worth $390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. AlphaCrest Capital Management LLC acquired a new stake in shares of NetApp in the fourth quarter worth $1,034,000. Bank of Nova Scotia boosted its stake in NetApp by 24.6% during the 4th quarter. Bank of Nova Scotia now owns 139,724 shares of the data storage provider’s stock valued at $8,335,000 after acquiring an additional 27,626 shares during the last quarter. Bremer Trust National Association bought a new position in NetApp during the 4th quarter valued at $33,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in NetApp by 46.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,092 shares of the data storage provider’s stock valued at $3,527,000 after acquiring an additional 18,837 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in NetApp by 45.4% during the 4th quarter. Bank of New York Mellon Corp now owns 3,582,797 shares of the data storage provider’s stock valued at $213,787,000 after acquiring an additional 1,119,253 shares during the last quarter. 95.76% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have commented on NTAP. BMO Capital Markets reduced their price objective on shares of NetApp to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, February 14th. Lake Street Capital cut their price objective on shares of NetApp to $69.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Wells Fargo & Co dropped their target price on shares of NetApp from $80.00 to $70.00 and set a “market perform” rating on the stock in a report on Thursday, February 14th. Oppenheimer restated a “hold” rating on shares of NetApp in a report on Thursday, February 14th. Finally, William Blair lowered shares of NetApp from an “outperform” rating to a “market perform” rating and set a $61.95 price target on the stock. in a report on Thursday, February 14th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $77.88.

NASDAQ:NTAP traded up $0.02 during trading hours on Friday, hitting $77.69. 1,557,410 shares of the company traded hands, compared to its average volume of 2,243,933. The stock has a market cap of $19.19 billion, a P/E ratio of 25.98, a PEG ratio of 1.36 and a beta of 1.40. NetApp Inc. has a twelve month low of $54.50 and a twelve month high of $88.08. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.56 and a quick ratio of 1.53.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, February 13th. The data storage provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.05. NetApp had a net margin of 16.85% and a return on equity of 60.32%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the company posted $0.99 EPS. The business’s revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts anticipate that NetApp Inc. will post 4.04 EPS for the current 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 is Thursday, April 4th. NetApp’s payout ratio is 53.51%.

In other NetApp news, EVP Henri P. Richard sold 5,050 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $66.01, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Joel D. Reich sold 20,000 shares of the 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 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.

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About NetApp

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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