Andra AP fonden cut its stake in NetApp, Inc. (NASDAQ:NTAP) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,500 shares of the data storage provider’s stock after selling 4,600 shares during the period. Andra AP fonden’s holdings in NetApp were worth $2,823,000 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. Teachers Advisors LLC raised its holdings in NetApp by 3.6% in the 1st quarter. Teachers Advisors LLC now owns 451,826 shares of the data storage provider’s stock valued at $18,909,000 after acquiring an additional 15,496 shares in the last quarter. Capstone Asset Management Co. raised its holdings in NetApp by 3.8% in the 2nd quarter. Capstone Asset Management Co. now owns 20,741 shares of the data storage provider’s stock valued at $831,000 after acquiring an additional 753 shares in the last quarter. Bank of Montreal Can raised its holdings in NetApp by 6.0% in the 2nd quarter. Bank of Montreal Can now owns 189,736 shares of the data storage provider’s stock valued at $7,600,000 after acquiring an additional 10,767 shares in the last quarter. NN Investment Partners Holdings N.V. raised its holdings in NetApp by 41.5% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 57,567 shares of the data storage provider’s stock valued at $2,305,000 after acquiring an additional 16,887 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in NetApp by 19.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,000 shares of the data storage provider’s stock valued at $560,000 after acquiring an additional 2,300 shares in the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

In other NetApp news, EVP Henri P. Richard sold 1,976 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $44.62, for a total transaction of $88,169.12. Following the sale, the executive vice president now owns 13,860 shares in the company, valued at $618,433.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 4,570 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $37.98, for a total value of $173,568.60. Following the sale, the chief executive officer now owns 23,028 shares in the company, valued at approximately $874,603.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,498 shares of company stock worth $1,911,496. Company insiders own 0.47% of the company’s stock.

Several equities analysts have recently issued reports on NTAP shares. Longbow Research upgraded NetApp from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, August 15th. Piper Jaffray Companies set a $50.00 price target on NetApp and gave the company a “buy” rating in a research note on Monday, August 14th. Maxim Group upgraded NetApp from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $56.00 in a research note on Monday, August 14th. BidaskClub upgraded NetApp from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Goldman Sachs Group, Inc. (The) upgraded NetApp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $46.00 to $47.00 in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $45.65.

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NetApp, Inc. (NTAP) opened at $46.34 on Friday. The firm has a market capitalization of $12,489.78, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. NetApp, Inc. has a twelve month low of $33.26 and a twelve month high of $47.20. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.07. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 earnings per share. equities research analysts predict that NetApp, Inc. will post 2.49 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.73%. NetApp’s dividend payout ratio is currently 38.65%.

About NetApp

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.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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