NetApp Inc. (NTAP) Position Trimmed by Raymond James Trust N.A.

Raymond James Trust N.A. trimmed its holdings in shares of NetApp Inc. (NASDAQ:NTAP) by 27.1% in the first quarter, HoldingsChannel reports. The firm owned 4,195 shares of the data storage provider’s stock after selling 1,556 shares during the period. Raymond James Trust N.A.’s holdings in NetApp were worth $291,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lindbrook Capital LLC acquired a new stake in shares of NetApp in the 4th quarter valued at $32,000. Bremer Trust National Association acquired a new stake in shares of NetApp in the 4th quarter valued at $33,000. Global Retirement Partners LLC increased its stake in shares of NetApp by 8,090.0% in the 4th quarter. Global Retirement Partners LLC now owns 819 shares of the data storage provider’s stock valued at $49,000 after buying an additional 809 shares during the period. North Star Investment Management Corp. increased its stake in shares of NetApp by 660.0% in the 1st quarter. North Star Investment Management Corp. now owns 760 shares of the data storage provider’s stock valued at $53,000 after buying an additional 660 shares during the period. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of NetApp in the 4th quarter valued at $75,000. 95.76% of the stock is owned by hedge funds and other institutional investors.

NTAP has been the subject of several research reports. Cross Research raised NetApp from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Citigroup decreased their price objective on 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 decreased their price objective on NetApp to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Morgan Stanley cut NetApp from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $72.00 to $58.00 in a research note on Tuesday, January 15th. Finally, Bank of America reaffirmed a “buy” rating and set a $90.00 price objective on shares of NetApp in a research note on Monday, February 11th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $77.88.

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

NTAP stock opened at $77.69 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.53 and a current ratio of 1.56. The stock has a market cap of $19.19 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.36 and a beta of 1.40. NetApp Inc. has a 1-year low of $54.50 and a 1-year high of $88.08.

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

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

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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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