ING Groep NV Has $3.04 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

ING Groep NV trimmed its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,155 shares of the data storage provider’s stock after selling 1,337 shares during the period. ING Groep NV’s holdings in NetApp were worth $3,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC raised its stake in NetApp by 8.9% during the 3rd quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock valued at $37,301,000 after purchasing an additional 24,651 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of NetApp by 20.9% in the third quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock worth $5,225,000 after buying an additional 7,318 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of NetApp by 9.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock valued at $156,268,000 after buying an additional 113,360 shares in the last quarter. Hilton Capital Management LLC acquired a new position in NetApp during the third quarter valued at $4,059,000. Finally, Orion Portfolio Solutions LLC raised its position in NetApp by 232.2% during the third quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider’s stock valued at $831,000 after buying an additional 4,705 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In related news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction 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 transaction, the president now owns 27,099 shares in the company, valued at $3,116,114.01. This trade represents a 44.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the sale, the chief executive officer now owns 279,782 shares of the company’s stock, valued at $34,774,104.78. This trade represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,903 shares of company stock worth $7,260,341 over the last 90 days. Insiders own 0.47% of the company’s stock.

NetApp Price Performance

NASDAQ NTAP opened at $124.47 on Friday. NetApp, Inc. has a fifty-two week low of $85.28 and a fifty-two week high of $135.45. The stock’s 50-day moving average is $120.12 and its two-hundred day moving average is $121.92. The firm has a market cap of $25.31 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NTAP. Stifel Nicolaus raised their price objective on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upgraded shares of NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 price target for the company in a report on Monday, December 16th. Susquehanna downgraded shares of NetApp from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $155.00 to $130.00 in a research report on Monday, February 10th. StockNews.com upgraded shares of NetApp from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company lowered their price target on shares of NetApp from $140.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $137.33.

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.