NetApp, Inc. $NTAP Shares Sold by Lbp Am Sa

Lbp Am Sa reduced its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 35.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,263 shares of the data storage provider’s stock after selling 38,613 shares during the period. Lbp Am Sa’s holdings in NetApp were worth $7,487,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in shares of NetApp by 39.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider’s stock worth $3,250,000 after purchasing an additional 10,494 shares during the last quarter. Achmea Investment Management B.V. boosted its stake in shares of NetApp by 55.8% during the 1st quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider’s stock worth $19,492,000 after purchasing an additional 79,457 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new stake in shares of NetApp in the first quarter worth approximately $321,000. UNICOM Systems Inc. acquired a new stake in shares of NetApp in the first quarter worth approximately $13,483,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of NetApp in the first quarter worth approximately $2,050,000. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Trading Up 0.0%

NTAP opened at $118.50 on Thursday. The firm has a market capitalization of $23.65 billion, a P/E ratio of 20.94, a P/E/G ratio of 2.57 and a beta of 1.45. The firm’s 50 day moving average is $113.79 and its 200-day moving average is $102.31. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, October 3rd. NetApp’s payout ratio is 36.75%.

Wall Street Analysts Forecast Growth

NTAP has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Morgan Stanley set a $117.00 target price on shares of NetApp in a research report on Thursday, August 28th. Wedbush reissued a “neutral” rating and issued a $150.00 target price on shares of NetApp in a research report on Thursday, August 28th. UBS Group raised their target price on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Finally, Bank of America raised their target price on shares of NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $124.07.

Insider Buying and Selling

In related news, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the completion of the sale, the chief executive officer owned 274,938 shares in the company, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total transaction of $123,670.00. Following the completion of the sale, the executive vice president owned 23,628 shares of the company’s stock, valued at approximately $2,922,074.76. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,529 shares of company stock worth $3,350,714. Insiders own 0.28% of the company’s stock.

NetApp Company 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.