New York State Common Retirement Fund Sells 11,800 Shares of NetApp, Inc. (NASDAQ:NTAP)

New York State Common Retirement Fund lowered its stake in NetApp, Inc. (NASDAQ:NTAP) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,325 shares of the data storage provider’s stock after selling 11,800 shares during the period. New York State Common Retirement Fund’s holdings in NetApp were worth $12,574,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. KBC Group NV boosted its stake in shares of NetApp by 276.9% during the 4th quarter. KBC Group NV now owns 891,033 shares of the data storage provider’s stock valued at $103,431,000 after purchasing an additional 654,626 shares in the last quarter. Geode Capital Management LLC lifted its holdings in NetApp by 8.2% in the third quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock worth $738,280,000 after buying an additional 453,324 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in NetApp by 38.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,232,852 shares of the data storage provider’s stock valued at $152,270,000 after acquiring an additional 342,415 shares in the last quarter. Unigestion Holding SA grew its holdings in shares of NetApp by 926.1% during the 3rd quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider’s stock worth $35,022,000 after acquiring an additional 256,028 shares during the period. Finally, Retirement Systems of Alabama raised its position in shares of NetApp by 546.8% in the 4th quarter. Retirement Systems of Alabama now owns 289,504 shares of the data storage provider’s stock worth $33,606,000 after acquiring an additional 244,746 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NetApp

In other NetApp news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the sale, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the sale, the chief executive officer now owns 266,765 shares of the company’s stock, valued at approximately $31,755,705.60. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,903 shares of company stock worth $7,260,341 over the last three months. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NTAP shares. Susquehanna lowered NetApp from a “positive” rating to a “neutral” rating and dropped their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Keefe, Bruyette & Woods raised shares of NetApp to an “outperform” rating in a research report on Wednesday, February 19th. Barclays lifted their price target on shares of NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Finally, Wedbush restated a “neutral” rating and issued a $120.00 price objective on shares of NetApp in a report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $137.33.

NetApp Price Performance

NASDAQ NTAP opened at $123.50 on Tuesday. NetApp, Inc. has a one year low of $86.43 and a one year high of $135.45. The stock has a 50-day moving average of $120.06 and a 200 day moving average of $122.03. 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 $25.11 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 2.45 and a beta of 1.23.

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.