Mutual of America Capital Management LLC Sells 1,558 Shares of NetApp, Inc. (NASDAQ:NTAP)

Mutual of America Capital Management LLC lowered its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,961 shares of the data storage provider’s stock after selling 1,558 shares during the period. Mutual of America Capital Management LLC’s holdings in NetApp were worth $2,465,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC bought a new stake in shares of NetApp during the third quarter valued at approximately $27,000. Sunbelt Securities Inc. purchased a new stake in NetApp in the first quarter worth approximately $28,000. First Pacific Financial purchased a new stake in NetApp in the third quarter worth approximately $29,000. UMB Bank n.a. boosted its holdings in NetApp by 82.9% in the fourth quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 150 shares during the last quarter. Finally, Planned Solutions Inc. purchased a new stake in NetApp in the fourth quarter worth approximately $34,000. Institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total value of $89,730.42. Following the sale, the executive vice president now directly owns 9,601 shares in the company, valued at approximately $989,095.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Monday, April 15th. The shares were sold at an average price of $103.16, for a total value of $876,860.00. Following the sale, the chief executive officer now directly owns 252,702 shares in the company, valued at approximately $26,068,738.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total transaction of $89,730.42. Following the completion of the sale, the executive vice president now owns 9,601 shares in the company, valued at $989,095.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,371 shares of company stock worth $4,139,505. Insiders own 0.37% of the company’s stock.

NetApp Stock Down 2.2 %

NTAP opened at $97.95 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15. NetApp, Inc. has a fifty-two week low of $60.92 and a fifty-two week high of $112.48. The firm’s fifty day moving average is $98.99 and its 200 day moving average is $88.42. The stock has a market cap of $20.21 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 2.23 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.25. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the company earned $1.02 EPS. NetApp’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts forecast that NetApp, Inc. will post 5.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.04%. NetApp’s dividend payout ratio is currently 45.45%.

Analyst Ratings Changes

NTAP has been the topic of several research reports. TD Cowen raised their target price on shares of NetApp from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. StockNews.com cut shares of NetApp from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. UBS Group raised their target price on shares of NetApp from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Wedbush raised their target price on shares of NetApp from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $120.00 price target (up previously from $105.00) on shares of NetApp in a research note on Friday, March 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $97.94.

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.