Vident Investment Advisory LLC Decreases Holdings in NetApp, Inc. (NTAP)
Vident Investment Advisory LLC decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 11.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,978 shares of the data storage provider’s stock after selling 8,053 shares during the quarter. Vident Investment Advisory LLC’s holdings in NetApp were worth $2,668,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Chevy Chase Trust Holdings Inc. grew its stake in shares of NetApp by 0.8% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 235,427 shares of the data storage provider’s stock worth $10,302,000 after purchasing an additional 1,850 shares during the last quarter. First Republic Investment Management Inc. bought a new stake in shares of NetApp in the third quarter worth $2,991,000. Allianz Asset Management GmbH grew its stake in shares of NetApp by 12.7% in the third quarter. Allianz Asset Management GmbH now owns 2,812,288 shares of the data storage provider’s stock worth $123,066,000 after purchasing an additional 317,489 shares during the last quarter. King Luther Capital Management Corp bought a new stake in shares of NetApp in the third quarter worth $1,691,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in NetApp by 213.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 115,648 shares of the data storage provider’s stock valued at $5,082,000 after buying an additional 78,740 shares during the period. 94.97% of the stock is currently owned by institutional investors.
NetApp, Inc. (NASDAQ NTAP) opened at $58.58 on Tuesday. NetApp, Inc. has a fifty-two week low of $35.08 and a fifty-two week high of $58.99. The firm has a market cap of $15,540.00, a PE ratio of 21.90, a PEG ratio of 1.89 and a beta of 1.29. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Thursday, January 4th. NetApp’s payout ratio is presently 34.33%.
NTAP has been the topic of several recent analyst reports. Robert W. Baird set a $44.00 target price on shares of NetApp and gave the company a “hold” rating in a report on Monday, August 14th. Maxim Group upgraded shares of NetApp from a “hold” rating to a “buy” rating and boosted their target price for the company from $46.00 to $56.00 in a report on Monday, August 14th. Piper Jaffray Companies set a $50.00 target price on shares of NetApp and gave the company a “buy” rating in a report on Monday, August 14th. Longbow Research upgraded shares of NetApp from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, August 15th. Finally, Susquehanna Bancshares restated a “positive” rating and issued a $50.00 target price (up previously from $48.00) on shares of NetApp in a report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $49.39.
In other news, VP Joel D. Reich sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $56.99, for a total transaction of $854,850.00. Following the completion of the sale, the vice president now directly owns 441 shares of the company’s stock, valued at $25,132.59. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.01, for a total transaction of $83,011.76. Following the sale, the executive vice president now directly owns 17,812 shares of the company’s stock, valued at $748,282.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,036 shares of company stock valued at $10,171,008. 0.47% of the stock is currently owned by insiders.
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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