Los Angeles Capital Management & Equity Research Inc. lessened its stake in NetApp, Inc. (NASDAQ:NTAP) by 33.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 991,485 shares of the data storage provider’s stock after selling 493,533 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.37% of NetApp worth $43,387,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in NTAP. Capstone Asset Management Co. boosted its holdings in shares of NetApp by 3.8% in the second quarter. Capstone Asset Management Co. now owns 20,741 shares of the data storage provider’s stock valued at $831,000 after buying an additional 753 shares during the period. Bank of Montreal Can boosted its holdings in shares of NetApp by 6.0% in the second quarter. Bank of Montreal Can now owns 189,736 shares of the data storage provider’s stock valued at $7,600,000 after buying an additional 10,767 shares during the period. NN Investment Partners Holdings N.V. boosted its holdings in shares of NetApp by 41.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 57,567 shares of the data storage provider’s stock valued at $2,305,000 after buying an additional 16,887 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of NetApp by 19.7% in the second quarter. State of Alaska Department of Revenue now owns 14,000 shares of the data storage provider’s stock valued at $560,000 after buying an additional 2,300 shares during the period. Finally, National Pension Service boosted its holdings in shares of NetApp by 10.4% in the second quarter. National Pension Service now owns 307,004 shares of the data storage provider’s stock valued at $12,311,000 after buying an additional 28,873 shares during the period. Institutional investors own 93.91% of the company’s stock.

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Several research firms have recently weighed in on NTAP. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $50.00 price target (up previously from $48.00) on shares of NetApp in a report on Wednesday, August 16th. Stifel Nicolaus reissued a “hold” rating and issued a $37.00 price objective on shares of NetApp in a research report on Wednesday, August 16th. Barclays PLC boosted their price objective on shares of NetApp from $35.00 to $38.00 and gave the stock an “underweight” rating in a research report on Thursday, August 17th. Drexel Hamilton reissued a “buy” rating and issued a $62.00 price objective (up previously from $60.00) on shares of NetApp in a research report on Friday, August 18th. Finally, Royal Bank Of Canada boosted their price objective on shares of NetApp from $45.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and fourteen have given a buy rating to the stock. NetApp presently has an average rating of “Hold” and a consensus target price of $46.00.

In other news, CEO George Kurian sold 4,570 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $37.98, for a total transaction of $173,568.60. Following the completion of the sale, the chief executive officer now owns 23,028 shares of the company’s stock, valued at approximately $874,603.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Matthew K. Fawcett sold 29,845 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $46.60, for a total transaction of $1,390,777.00. Following the sale, the senior vice president now directly owns 31,962 shares of the company’s stock, valued at approximately $1,489,429.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,343 shares of company stock valued at $3,302,273. Company insiders own 0.47% of the company’s stock.

NetApp, Inc. (NTAP) traded down $0.34 during trading on Tuesday, reaching $46.00. 2,328,600 shares of the company’s stock traded hands, compared to its average volume of 2,921,085. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. NetApp, Inc. has a 52-week low of $33.83 and a 52-week high of $47.20. The company has a market cap of $12,500.57, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.07. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $0.46 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. equities research analysts expect that NetApp, Inc. will post 2.49 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, October 5th. This represents a $0.80 annualized dividend and a yield of 1.74%. NetApp’s payout ratio is 38.65%.

NetApp Profile

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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