Mutual of America Capital Management LLC Decreases Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Mutual of America Capital Management LLC reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 4.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 42,393 shares of the data storage provider’s stock after selling 2,025 shares during the quarter. Mutual of America Capital Management LLC’s holdings in NetApp were worth $5,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTAP. Seizert Capital Partners LLC raised its stake in shares of NetApp by 2.0% in the third quarter. Seizert Capital Partners LLC now owns 456,444 shares of the data storage provider’s stock worth $56,375,000 after purchasing an additional 8,944 shares during the last quarter. Natixis Advisors LLC raised its position in NetApp by 66.0% during the 3rd quarter. Natixis Advisors LLC now owns 72,137 shares of the data storage provider’s stock worth $8,910,000 after buying an additional 28,693 shares during the last quarter. Empirical Finance LLC lifted its stake in NetApp by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 7,383 shares of the data storage provider’s stock valued at $912,000 after acquiring an additional 136 shares during the period. Empowered Funds LLC boosted its holdings in shares of NetApp by 72.3% in the 3rd quarter. Empowered Funds LLC now owns 133,819 shares of the data storage provider’s stock valued at $16,528,000 after acquiring an additional 56,135 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of NetApp by 10.1% in the third quarter. CIBC Asset Management Inc now owns 30,627 shares of the data storage provider’s stock worth $3,783,000 after acquiring an additional 2,814 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Price Performance

NetApp stock opened at $123.45 on Thursday. The company’s 50 day simple moving average is $121.56 and its 200-day simple moving average is $122.36. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. NetApp, Inc. has a 1 year low of $77.30 and a 1 year high of $135.01. The company has a market capitalization of $25.28 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 3.01 and a beta of 1.24.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the company earned $0.84 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts expect that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.68%. The ex-dividend date was Friday, October 4th. NetApp’s dividend payout ratio is currently 40.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Loop Capital raised NetApp from a “hold” rating to a “buy” rating and increased their price target for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their target price on shares of NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Bank of America lifted their price objective on shares of NetApp from $105.00 to $110.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Barclays increased their target price on shares of NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Finally, Evercore ISI lifted their price target on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $129.06.

Insiders Place Their Bets

In other news, Director Thomas Michael Nevens sold 3,333 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $119.23, for a total transaction of $397,393.59. Following the sale, the director now owns 9,277 shares of the company’s stock, valued at approximately $1,106,096.71. This represents a 26.43 % decrease in their ownership of the stock. 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 705 shares of NetApp stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the transaction, the executive vice president now owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. This trade represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,049 shares of company stock worth $2,807,851 over the last three months. Company insiders own 0.47% of the company’s stock.

About NetApp

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.