Chevy Chase Trust Holdings Inc. reduced its position in shares of NetApp Inc. (NASDAQ:NTAP) by 5.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 232,812 shares of the data storage provider’s stock after selling 14,410 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.08% of NetApp worth $8,339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTAP. Dodge & Cox boosted its position in shares of NetApp by 0.7% in the second quarter. Dodge & Cox now owns 36,281,441 shares of the data storage provider’s stock worth $892,161,000 after buying an additional 246,450 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of NetApp by 1.6% in the second quarter. Vanguard Group Inc. now owns 25,692,849 shares of the data storage provider’s stock worth $631,787,000 after buying an additional 401,590 shares during the last quarter. State Street Corp boosted its position in shares of NetApp by 0.7% in the second quarter. State Street Corp now owns 12,594,917 shares of the data storage provider’s stock worth $309,710,000 after buying an additional 83,169 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of NetApp by 14.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 9,225,320 shares of the data storage provider’s stock worth $226,851,000 after buying an additional 1,189,529 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of NetApp by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 5,996,983 shares of the data storage provider’s stock worth $147,467,000 after buying an additional 219,124 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

NetApp Inc. (NASDAQ:NTAP) traded up 0.755% during trading on Tuesday, hitting $36.705. The company had a trading volume of 1,413,342 shares. The firm’s 50 day moving average is $34.21 and its 200-day moving average is $30.14. The stock has a market capitalization of $10.20 billion, a price-to-earnings ratio of 33.308 and a beta of 1.49. NetApp Inc. has a 52-week low of $20.66 and a 52-week high of $39.00.

NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, November 16th. The data storage provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.06. NetApp had a net margin of 5.89% and a return on equity of 15.66%. The firm earned $1.34 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm earned $0.61 EPS. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. On average, equities analysts forecast that NetApp Inc. will post $2.56 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Friday, January 6th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $0.76 annualized dividend and a yield of 2.09%. NetApp’s dividend payout ratio (DPR) is presently 69.09%.

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A number of brokerages have issued reports on NTAP. Piper Jaffray Cos. lifted their price objective on NetApp from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. RBC Capital Markets lifted their price objective on NetApp to $32.00 in a research note on Thursday, August 18th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $38.00 price objective on shares of NetApp in a research note on Thursday, November 17th. Credit Suisse Group AG reiterated a “hold” rating and set a $30.00 price objective on shares of NetApp in a research note on Thursday, November 17th. Finally, Summit Redstone lifted their target price on NetApp from $20.00 to $30.00 and gave the stock a “sell” rating in a report on Thursday, August 18th. Eleven investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and six have given a buy rating to the company. NetApp has a consensus rating of “Hold” and an average target price of $32.54.

In other NetApp news, Director Robert T. Wall sold 22,944 shares of the business’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $35.45, for a total value of $813,364.80. Following the completion of the transaction, the director now owns 36,048 shares in the company, valued at $1,277,901.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO George Kurian sold 4,000 shares of the business’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $35.16, for a total transaction of $140,640.00. Following the completion of the transaction, the chief executive officer now owns 40,570 shares of the company’s stock, valued at approximately $1,426,441.20. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.

NetApp Company Profile

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

5 Day Chart for NASDAQ:NTAP

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