Avanza Fonder AB Sells 460 Shares of NetApp, Inc. (NASDAQ:NTAP)

Avanza Fonder AB decreased its position in NetApp, Inc. (NASDAQ:NTAP) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,569 shares of the data storage provider’s stock after selling 460 shares during the period. Avanza Fonder AB’s holdings in NetApp were worth $1,499,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC grew its position in NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider’s stock worth $438,000 after acquiring an additional 92 shares during the last quarter. Moors & Cabot Inc. grew its position in NetApp by 3.6% during the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider’s stock worth $337,000 after acquiring an additional 100 shares during the last quarter. Coppell Advisory Solutions LLC grew its position in NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider’s stock worth $35,000 after acquiring an additional 100 shares during the last quarter. Utah Retirement Systems grew its position in NetApp by 0.3% during the 4th quarter. Utah Retirement Systems now owns 34,152 shares of the data storage provider’s stock worth $3,964,000 after acquiring an additional 100 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in NetApp by 2.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider’s stock worth $534,000 after acquiring an additional 111 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NTAP has been the topic of a number of research analyst reports. UBS Group decreased their price target on NetApp from $115.00 to $108.00 and set a “neutral” rating on the stock in a research report on Friday, May 30th. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Wedbush reiterated a “neutral” rating and issued a $110.00 price objective on shares of NetApp in a research report on Friday, May 30th. JPMorgan Chase & Co. decreased their price objective on NetApp from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, May 30th. Finally, Evercore ISI decreased their price objective on NetApp from $120.00 to $100.00 and set an “in-line” rating on the stock in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, NetApp currently has an average rating of “Hold” and a consensus price target of $117.79.

Insider Activity

In other news, CAO Lorenzo Daniel De sold 302 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total value of $29,828.54. Following the completion of the transaction, the chief accounting officer now owns 455 shares in the company, valued at $44,940.35. This represents a 39.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anders Gustafsson bought 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average cost of $91.00 per share, with a total value of $254,800.00. Following the transaction, the director now owns 6,348 shares of the company’s stock, valued at $577,668. This represents a 78.92% increase in their position. The disclosure for this purchase can be found here. Insiders sold 28,498 shares of company stock worth $2,500,978 over the last quarter. 0.47% of the stock is currently owned by company insiders.

NetApp Stock Up 0.1%

Shares of NASDAQ:NTAP opened at $102.63 on Thursday. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The company has a market capitalization of $20.88 billion, a PE ratio of 18.87, a PEG ratio of 2.45 and a beta of 1.42. The company has a 50 day moving average price of $92.74 and a two-hundred day moving average price of $106.11.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.90 by $0.03. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm earned $1.80 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, July 3rd. NetApp’s dividend payout ratio (DPR) is presently 36.62%.

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.