Entropy Technologies LP lowered its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 84.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,996 shares of the data storage provider's stock after selling 50,437 shares during the quarter. Entropy Technologies LP's holdings in NetApp were worth $1,111,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in NTAP. UMB Bank n.a. lifted its position in NetApp by 11.8% during the 2nd quarter. UMB Bank n.a. now owns 784 shares of the data storage provider's stock worth $101,000 after buying an additional 83 shares in the last quarter. Aviso Wealth Management grew its stake 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 purchasing an additional 83 shares during the last quarter. Waldron Private Wealth LLC increased its holdings in shares of NetApp by 4.3% in the second quarter. Waldron Private Wealth LLC now owns 2,255 shares of the data storage provider's stock valued at $290,000 after purchasing an additional 92 shares in the last quarter. Quarry LP raised its position in NetApp by 11.7% in the 2nd quarter. Quarry LP now owns 876 shares of the data storage provider's stock worth $113,000 after purchasing an additional 92 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its holdings in NetApp by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider's stock worth $2,437,000 after buying an additional 95 shares in the last quarter. Institutional investors own 92.17% of the company's stock.
NTAP has been the subject of a number of recent research reports. Evercore ISI boosted their target price on NetApp from $120.00 to $130.00 and gave the stock an "in-line" rating in a research report on Monday, August 12th. Citigroup boosted their price objective on NetApp from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday, August 15th. Loop Capital raised shares of NetApp from a "hold" rating to a "buy" rating and raised their target price for the company from $121.00 to $150.00 in a research note on Tuesday, September 3rd. Susquehanna reissued a "positive" rating and set a $155.00 price target on shares of NetApp in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of NetApp from $146.00 to $147.00 and gave the company a "neutral" rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $129.06.
View Our Latest Stock Report on NetApp
In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of NetApp stock in a transaction on 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 document filed with the SEC, which is available through this hyperlink. In other news, CAO Lorenzo Daniel De sold 1,685 shares of the firm's stock in a transaction dated Tuesday, September 24th. The stock was 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 available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $126.11, for a total value of $1,071,935.00. Following the sale, the chief executive officer now owns 292,778 shares in the company, valued at $36,922,233.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,890 shares of company stock worth $1,369,172. 0.47% of the stock is owned by insiders.
NTAP opened at $119.68 on Thursday. The stock has a market capitalization of $24.51 billion, a P/E ratio of 23.38, a P/E/G ratio of 4.54 and a beta of 1.24. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. NetApp, Inc. has a 12 month low of $76.41 and a 12 month high of $135.01. The firm's fifty day simple moving average is $121.07 and its 200 day simple moving average is $121.76.
NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 earnings per share. As a group, research analysts anticipate that NetApp, Inc. will post 5.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were issued a $0.52 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.74%. NetApp's dividend payout ratio (DPR) is presently 40.62%.
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.
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