NetApp, Inc. (NASDAQ:NTAP) Position Reduced by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 23.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,342,751 shares of the data storage provider’s stock after selling 417,804 shares during the period. Los Angeles Capital Management LLC’s holdings in NetApp were worth $155,867,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its stake in NetApp by 2.0% during the third quarter. State Street Corp now owns 10,261,170 shares of the data storage provider’s stock valued at $1,267,357,000 after buying an additional 199,384 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NetApp by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock valued at $738,280,000 after purchasing an additional 453,324 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of NetApp by 9.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock valued at $156,268,000 after purchasing an additional 113,360 shares during the period. KBC Group NV increased its holdings in shares of NetApp by 276.9% in the 4th quarter. KBC Group NV now owns 891,033 shares of the data storage provider’s stock valued at $103,431,000 after purchasing an additional 654,626 shares during the period. Finally, Barclays PLC increased its holdings in shares of NetApp by 31.4% in the 3rd quarter. Barclays PLC now owns 784,339 shares of the data storage provider’s stock valued at $96,873,000 after purchasing an additional 187,638 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 451 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the completion of the transaction, the executive vice president now directly owns 12,005 shares in the company, valued at approximately $1,402,063.95. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,903 shares of company stock worth $7,260,341 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.

NetApp Price Performance

Shares of NTAP opened at $123.50 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 1 year low of $86.43 and a 1 year high of $135.45. The stock has a market cap of $25.11 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23. The stock’s 50-day moving average price is $120.06 and its two-hundred day moving average price is $122.03.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a report on Wednesday, February 19th. Stifel Nicolaus raised their target price on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. StockNews.com raised NetApp from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. raised NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 target price for the company in a research report on Monday, December 16th. Finally, Morgan Stanley raised their target price on NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, NetApp currently has an average rating of “Hold” and an average price target of $137.33.

NetApp 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.