Nisa Investment Advisors LLC Reduces Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Nisa Investment Advisors LLC cut its stake in NetApp, Inc. (NASDAQ:NTAP) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,676 shares of the data storage provider’s stock after selling 6,868 shares during the quarter. Nisa Investment Advisors LLC’s holdings in NetApp were worth $8,668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTAP. Aviso Wealth Management increased its position in shares of NetApp by 1.4% during the second quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock valued at $792,000 after buying an additional 83 shares during the period. Quarry LP grew its stake in NetApp by 11.7% during the second quarter. Quarry LP now owns 876 shares of the data storage provider’s stock valued at $113,000 after acquiring an additional 92 shares in the last quarter. OLD National Bancorp IN increased its holdings in NetApp by 3.5% during the 3rd quarter. OLD National Bancorp IN now owns 3,492 shares of the data storage provider’s stock worth $431,000 after acquiring an additional 118 shares during the period. Ballentine Partners LLC lifted its stake in NetApp by 4.5% in the 3rd quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider’s stock worth $340,000 after purchasing an additional 118 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in NetApp by 2.4% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,108 shares of the data storage provider’s stock valued at $631,000 after purchasing an additional 120 shares during the period. 92.17% of the stock is currently owned by institutional investors.

NetApp Trading Up 0.2 %

NASDAQ:NTAP opened at $126.30 on Friday. The firm has a market capitalization of $25.68 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.93 and a beta of 1.23. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The company has a fifty day moving average of $121.07 and a 200 day moving average of $122.69. NetApp, Inc. has a 52 week low of $83.80 and a 52 week high of $135.45.

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

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Friday, January 3rd. NetApp’s payout ratio is 38.24%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NTAP. Bank of America increased their price objective on NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a research report on Friday, November 22nd. Stifel Nicolaus lifted their price target on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Wells Fargo & Company boosted their price objective on NetApp from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Northland Securities lifted their target price on shares of NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research report on Friday, November 22nd. Finally, Wedbush reissued a “neutral” rating and issued a $120.00 price target on shares of NetApp in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and an average target price of $139.20.

Insider Activity at NetApp

In other news, Director Thomas Michael Nevens sold 3,333 shares of NetApp stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $119.23, for a total transaction of $397,393.59. Following the sale, the director now owns 9,277 shares of the company’s stock, valued at approximately $1,106,096.71. The trade was a 26.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lorenzo Daniel De sold 326 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $117.44, for a total transaction of $38,285.44. The disclosure for this sale can be found here. Insiders have sold a total of 51,610 shares of company stock worth $6,123,351 over the last quarter. Corporate insiders own 0.47% of the company’s stock.

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.