NetApp Inc. (NTAP) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lessened its stake in NetApp Inc. (NASDAQ:NTAP) by 37.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,256 shares of the data storage provider’s stock after selling 38,147 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in NetApp were worth $4,386,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Destination Wealth Management lifted its holdings in shares of NetApp by 53.3% in the first quarter. Destination Wealth Management now owns 460 shares of the data storage provider’s stock worth $32,000 after buying an additional 160 shares in the last quarter. Parallel Advisors LLC increased its position in NetApp by 83.8% in the first quarter. Parallel Advisors LLC now owns 509 shares of the data storage provider’s stock worth $35,000 after purchasing an additional 232 shares during the last quarter. Cornerstone Advisors Inc. increased its position in NetApp by 326.2% in the first quarter. Cornerstone Advisors Inc. now owns 520 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 398 shares during the last quarter. Bremer Trust National Association bought a new stake in NetApp in the fourth quarter worth $33,000. Finally, Financial Gravity Wealth Inc. bought a new stake in NetApp in the first quarter worth $39,000. 93.97% of the stock is currently owned by hedge funds and other institutional investors.

NTAP stock opened at $68.13 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 1.53 and a debt-to-equity ratio of 0.93. NetApp Inc. has a twelve month low of $54.50 and a twelve month high of $88.08. The firm has a market cap of $17.06 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 0.99 and a beta of 1.40.

Several equities research analysts recently weighed in on the stock. Piper Jaffray Companies reduced their price target on shares of NetApp from $90.00 to $81.00 and set an “overweight” rating on the stock in a research report on Friday. Bank of America reduced their price target on shares of NetApp from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. BidaskClub cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Credit Suisse Group assumed coverage on shares of NetApp in a research report on Thursday, April 11th. They issued an “outperform” rating and a $89.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of NetApp from a “sell” rating to a “hold” rating in a research report on Monday, February 18th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $77.04.

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NetApp Company 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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