Banque Cantonale Vaudoise Has $734,000 Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Banque Cantonale Vaudoise lowered its position in NetApp, Inc. (NASDAQ:NTAP – Get Rating) by 7.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,213 shares of the data storage provider’s stock after selling 934 shares during the period. Banque Cantonale Vaudoise’s holdings in NetApp were worth $734,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NTAP. Wellington Management Group LLP boosted its stake in NetApp by 70.3% during the first quarter. Wellington Management Group LLP now owns 8,329,363 shares of the data storage provider’s stock valued at $691,339,000 after buying an additional 3,439,053 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of NetApp by 123.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,004,008 shares of the data storage provider’s stock worth $62,098,000 after acquiring an additional 553,689 shares in the last quarter. Mariner LLC increased its position in NetApp by 176.0% during the 1st quarter. Mariner LLC now owns 646,590 shares of the data storage provider’s stock valued at $53,669,000 after buying an additional 412,291 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in NetApp during the 3rd quarter valued at approximately $23,713,000. Finally, Vanguard Group Inc. boosted its stake in NetApp by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 25,823,258 shares of the data storage provider’s stock valued at $2,143,331,000 after purchasing an additional 294,399 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Insider Activity

In other news, CEO George Kurian sold 2,250 shares of NetApp stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $63.49, for a total value of $142,852.50. Following the completion of the transaction, the chief executive officer now directly owns 140,420 shares of the company’s stock, valued at approximately $8,915,265.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO George Kurian sold 2,250 shares of NetApp stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $63.49, for a total value of $142,852.50. Following the sale, the chief executive officer now directly owns 140,420 shares in the company, valued at approximately $8,915,265.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Cesar Cernuda sold 18,000 shares of NetApp stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $60.09, for a total transaction of $1,081,620.00. Following the completion of the sale, the president now owns 44,829 shares in the company, valued at $2,693,774.61. The disclosure for this sale can be found here. In the last three months, insiders sold 29,250 shares of company stock valued at $1,806,885. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NTAP shares. JPMorgan Chase & Co. decreased their target price on NetApp from $75.00 to $73.00 and set a “neutral” rating on the stock in a report on Thursday, February 23rd. Bank of America lowered NetApp from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $70.00 to $58.00 in a report on Thursday, April 20th. Citigroup reduced their price objective on shares of NetApp from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. UBS Group reduced their price target on NetApp from $78.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, February 23rd. Finally, Loop Capital cut their target price on NetApp from $67.00 to $65.00 and set a “hold” rating on the stock in a research report on Monday, February 27th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.24.

NetApp Price Performance

Shares of NTAP stock opened at $68.74 on Friday. The firm has a market cap of $14.70 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.71 and a beta of 1.20. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.34 and a quick ratio of 1.29. NetApp, Inc. has a 1-year low of $58.08 and a 1-year high of $79.09. The firm has a fifty day moving average of $64.00 and a two-hundred day moving average of $65.11.

NetApp (NASDAQ:NTAP – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The data storage provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.06. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.61 billion. NetApp had a net margin of 19.93% and a return on equity of 103.19%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the business earned $1.20 EPS. As a group, research analysts anticipate that NetApp, Inc. will post 4.28 earnings per share for the current fiscal year.

NetApp Profile

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NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Volumes ONTAP, NetApp Cloud Sync, NetApp Cloud Secure, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Kubernetes Service, and NetApp Cloud Insights.