NetApp, Inc. (NASDAQ:NTAP) Shares Sold by TCW Group Inc.

TCW Group Inc. decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 480,354 shares of the data storage provider’s stock after selling 22,084 shares during the quarter. TCW Group Inc.’s holdings in NetApp were worth $55,759,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of NTAP. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in NetApp during the fourth quarter valued at approximately $26,000. Golden State Wealth Management LLC acquired a new stake in NetApp during the fourth quarter valued at approximately $35,000. True Wealth Design LLC raised its stake in NetApp by 2,833.3% during the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock valued at $43,000 after buying an additional 340 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in NetApp during the third quarter valued at approximately $44,000. Finally, Ashton Thomas Securities LLC acquired a new stake in NetApp during the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Stock Performance

Shares of NTAP stock opened at $124.47 on Friday. NetApp, Inc. has a 12-month low of $85.28 and a 12-month high of $135.45. The firm has a market capitalization of $25.31 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23. The business has a 50 day simple moving average of $120.12 and a 200 day simple moving average of $121.96. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.23 EPS. On average, equities research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on NTAP shares. TD Cowen upped their price objective on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Wells Fargo & Company lowered their target price on NetApp from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Thursday. Northland Securities upped their target price on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. raised NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 target price for the company in a report on Monday, December 16th. Finally, Stifel Nicolaus upped their target price on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $137.33.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 452 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $120.75, for a total transaction of $54,579.00. Following the completion of the transaction, the executive vice president now directly owns 11,553 shares of the company’s stock, valued at approximately $1,395,024.75. This trade represents a 3.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $124.29, for a total value of $1,056,465.00. Following the transaction, the chief executive officer now directly owns 279,782 shares of the company’s stock, valued at approximately $34,774,104.78. The trade was a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,903 shares of company stock valued at $7,260,341. 0.47% of the stock is owned by corporate insiders.

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.