Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 1,207 Shares of NetApp, Inc. (NASDAQ:NTAP)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,543 shares of the data storage provider’s stock after selling 1,207 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in NetApp were worth $5,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NTAP. Prospera Financial Services Inc bought a new position in NetApp during the 3rd quarter worth about $744,000. PNC Financial Services Group Inc. grew its holdings in NetApp by 10.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 22,941 shares of the data storage provider’s stock worth $2,833,000 after acquiring an additional 2,088 shares in the last quarter. Integrated Investment Consultants LLC bought a new position in NetApp during the 3rd quarter worth about $401,000. Eagle Asset Management Inc. grew its holdings in NetApp by 4.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 44,213 shares of the data storage provider’s stock worth $5,483,000 after acquiring an additional 1,901 shares in the last quarter. Finally, Raymond James Trust N.A. grew its holdings in NetApp by 13.1% during the 3rd quarter. Raymond James Trust N.A. now owns 4,206 shares of the data storage provider’s stock worth $519,000 after acquiring an additional 487 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NTAP has been the subject of several analyst reports. Wells Fargo & Company decreased their price target on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and increased their price target for the company from $121.00 to $128.00 in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods raised shares of NetApp to an “outperform” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price target on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, Citigroup decreased their price target on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, NetApp has a consensus rating of “Hold” and a consensus price target of $129.07.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 528 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the completion of the transaction, the executive vice president now directly owns 12,900 shares of the company’s stock, valued at approximately $1,194,282. This trade represents a 3.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the sale, the chief executive officer now directly owns 266,765 shares in the company, valued at $31,755,705.60. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,931 shares of company stock valued at $6,252,759. 0.47% of the stock is owned by insiders.

NetApp Stock Performance

NTAP opened at $92.25 on Friday. NetApp, Inc. has a 12-month low of $89.88 and a 12-month high of $135.45. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $18.76 billion, a PE ratio of 16.96, a P/E/G ratio of 2.45 and a beta of 1.24. The firm has a 50 day moving average of $112.44 and a two-hundred day moving average of $118.07.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio is presently 38.52%.

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.