Amalgamated Bank Grows Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Amalgamated Bank raised its position in shares of NetApp, Inc. (NASDAQ:NTAPGet Rating) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 58,094 shares of the data storage provider’s stock after buying an additional 442 shares during the quarter. Amalgamated Bank’s holdings in NetApp were worth $4,822,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NTAP. Geode Capital Management LLC lifted its position in shares of NetApp by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,656,425 shares of the data storage provider’s stock valued at $427,514,000 after buying an additional 62,115 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in shares of NetApp during the fourth quarter valued at about $285,000. American International Group Inc. lifted its position in shares of NetApp by 0.7% during the fourth quarter. American International Group Inc. now owns 107,627 shares of the data storage provider’s stock valued at $9,901,000 after buying an additional 720 shares during the last quarter. Schroder Investment Management Group raised its position in shares of NetApp by 21.2% in the 4th quarter. Schroder Investment Management Group now owns 133,457 shares of the data storage provider’s stock valued at $12,276,000 after purchasing an additional 23,337 shares during the last quarter. Finally, Clark Capital Management Group Inc. raised its position in shares of NetApp by 3.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 360,076 shares of the data storage provider’s stock valued at $33,123,000 after purchasing an additional 13,306 shares during the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 2,125 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $69.38, for a total transaction of $147,432.50. Following the transaction, the chief executive officer now owns 163,575 shares in the company, valued at approximately $11,348,833.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, President Cesar Cernuda sold 18,000 shares of NetApp stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $69.82, for a total transaction of $1,256,760.00. Following the transaction, the president now owns 78,463 shares in the company, valued at approximately $5,478,286.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 2,125 shares of NetApp stock in a transaction on Monday, July 25th. The stock was sold at an average price of $69.38, for a total value of $147,432.50. Following the transaction, the chief executive officer now owns 163,575 shares in the company, valued at approximately $11,348,833.50. The disclosure for this sale can be found here. Insiders have sold 22,250 shares of company stock valued at $1,552,943 in the last 90 days. 0.26% of the stock is currently owned by company insiders.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $66.30 on Wednesday. The stock has a market capitalization of $14.41 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.76 and a beta of 1.19. NetApp, Inc. has a 12 month low of $61.26 and a 12 month high of $96.82. The firm’s 50 day simple moving average is $71.28 and its 200-day simple moving average is $73.10. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.38 and a quick ratio of 1.31.

NetApp (NASDAQ:NTAPGet Rating) last issued its quarterly earnings data on Wednesday, August 24th. The data storage provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.55 billion. NetApp had a net margin of 14.71% and a return on equity of 128.71%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company earned $0.99 EPS. Analysts expect that NetApp, Inc. will post 4.45 EPS for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Friday, October 7th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, October 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.02%. NetApp’s payout ratio is 47.85%.

Analysts Set New Price Targets

NTAP has been the subject of several research analyst reports. Barclays increased their price objective on shares of NetApp from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, August 25th. Deutsche Bank Aktiengesellschaft raised shares of NetApp from a “hold” rating to a “buy” rating and decreased their price objective for the company from $90.00 to $84.00 in a research report on Tuesday, June 14th. Susquehanna lowered shares of NetApp from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $100.00 to $75.00 in a research report on Monday. The Goldman Sachs Group increased their price objective on shares of NetApp from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Thursday, August 25th. Finally, StockNews.com raised shares of NetApp from a “hold” rating to a “buy” rating in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $89.22.

About NetApp

(Get Rating)

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, NetApp ElementOS software, and NetApp SANtricity software; and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, and NetApp SolidFire.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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