Trexquant Investment LP Sells 140,495 Shares of NetApp, Inc. (NASDAQ:NTAP)

Trexquant Investment LP lowered its stake in NetApp, Inc. (NASDAQ:NTAPGet Rating) by 93.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,781 shares of the data storage provider’s stock after selling 140,495 shares during the period. Trexquant Investment LP’s holdings in NetApp were worth $638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Deutsche Bank AG raised its holdings in NetApp by 33.8% in the second quarter. Deutsche Bank AG now owns 967,717 shares of the data storage provider’s stock worth $63,134,000 after buying an additional 244,451 shares during the last quarter. Sigma Planning Corp raised its holdings in NetApp by 54.2% in the 2nd quarter. Sigma Planning Corp now owns 18,752 shares of the data storage provider’s stock worth $1,223,000 after acquiring an additional 6,595 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in NetApp by 0.6% in the 2nd quarter. GHP Investment Advisors Inc. now owns 108,934 shares of the data storage provider’s stock valued at $7,107,000 after acquiring an additional 668 shares in the last quarter. Westpac Banking Corp boosted its stake in NetApp by 11.2% during the 2nd quarter. Westpac Banking Corp now owns 151,036 shares of the data storage provider’s stock valued at $9,854,000 after purchasing an additional 15,183 shares during the last quarter. Finally, Fiera Capital Corp bought a new stake in shares of NetApp in the 2nd quarter worth $2,440,000. Institutional investors own 88.45% of the company’s stock.

Insider Buying and Selling

In other news, President Cesar Cernuda sold 18,000 shares of NetApp stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $69.82, for a total transaction of $1,256,760.00. Following the sale, the president now owns 78,463 shares in the company, valued at $5,478,286.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.26% of the stock is owned by insiders.

NetApp Trading Up 1.1 %

Shares of NetApp stock opened at $74.66 on Friday. NetApp, Inc. has a fifty-two week low of $60.56 and a fifty-two week high of $96.82. The company has a debt-to-equity ratio of 3.63, a quick ratio of 1.31 and a current ratio of 1.38. The company has a market capitalization of $16.23 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.90 and a beta of 1.22. The company has a fifty day moving average of $67.28 and a 200 day moving average of $68.83.

NetApp (NASDAQ:NTAPGet Rating) last released its quarterly earnings data on Wednesday, August 24th. The data storage provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.11. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.55 billion. NetApp had a return on equity of 128.71% and a net margin of 14.71%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.99 earnings per share. On average, sell-side analysts anticipate that NetApp, Inc. will post 4.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NTAP. Raymond James upped their price target on NetApp from $94.00 to $105.00 in a report on Thursday, August 25th. StockNews.com lowered shares of NetApp from a “buy” rating to a “hold” rating in a research note on Wednesday, November 16th. Morgan Stanley decreased their price objective on shares of NetApp from $88.00 to $71.00 and set an “equal weight” rating for the company in a report on Tuesday, October 11th. JPMorgan Chase & Co. raised their target price on shares of NetApp from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, August 29th. Finally, Barclays boosted their target price on shares of NetApp from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, NetApp presently has a consensus rating of “Hold” and a consensus target price of $86.50.

NetApp Profile

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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.

Further Reading

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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