Swiss National Bank Sells 200 Shares of NetApp, Inc. (NASDAQ:NTAP)

Swiss National Bank lowered its position in NetApp, Inc. (NASDAQ:NTAP) by 0.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 610,900 shares of the data storage provider’s stock after selling 200 shares during the period. Swiss National Bank owned about 0.30% of NetApp worth $75,452,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NTAP. Hollencrest Capital Management acquired a new position in NetApp in the second quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new position in shares of NetApp in the 3rd quarter valued at approximately $27,000. New Covenant Trust Company N.A. bought a new stake in NetApp during the 1st quarter worth approximately $28,000. Redwood Wealth Management Group LLC acquired a new stake in NetApp during the 2nd quarter worth approximately $32,000. Finally, Crewe Advisors LLC bought a new position in NetApp in the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Activity at NetApp

In other news, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 705 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares in the company, valued at approximately $1,475,782.80. This represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,716 shares of company stock worth $2,410,457 in the last ninety days. 0.47% of the stock is owned by company insiders.

NetApp Trading Up 2.4 %

Shares of NASDAQ:NTAP opened at $122.20 on Wednesday. NetApp, Inc. has a 52-week low of $77.08 and a 52-week high of $135.01. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. The company has a market capitalization of $25.02 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 3.01 and a beta of 1.24. The company has a 50-day simple moving average of $121.41 and a 200 day simple moving average of $122.35.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. Sell-side analysts forecast that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. NetApp’s dividend payout ratio (DPR) is currently 40.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NTAP shares. Citigroup increased their price objective on shares of NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Stifel Nicolaus lifted their price target on NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Bank of America upped their price objective on NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Susquehanna reiterated a “positive” rating and set a $155.00 price objective on shares of NetApp in a report on Monday, August 26th. Finally, Loop Capital upgraded NetApp from a “hold” rating to a “buy” rating and boosted their target price for the company from $121.00 to $150.00 in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $129.06.

NetApp 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.