Strs Ohio Sells 824 Shares of NetApp, Inc. (NASDAQ:NTAP)

Strs Ohio decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,273 shares of the data storage provider’s stock after selling 824 shares during the period. Strs Ohio’s holdings in NetApp were worth $1,434,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC increased its position in shares of NetApp by 14,650.0% in the fourth quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock worth $26,000 after purchasing an additional 293 shares during the period. Larson Financial Group LLC bought a new position in shares of NetApp in the third quarter worth $27,000. Sunbelt Securities Inc. bought a new position in shares of NetApp in the first quarter worth $28,000. First Pacific Financial bought a new position in shares of NetApp in the third quarter worth $29,000. Finally, UMB Bank n.a. increased its position in shares of NetApp by 82.9% in the fourth quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 150 shares during the period. Institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of recent analyst reports. Raymond James restated a “market perform” rating on shares of NetApp in a research report on Tuesday, January 16th. UBS Group raised their price objective on NetApp from $93.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. StockNews.com lowered NetApp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. TD Cowen raised their price objective on NetApp from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. raised their price objective on NetApp from $87.00 to $95.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, NetApp has an average rating of “Hold” and a consensus target price of $100.60.

NetApp Stock Performance

Shares of NTAP stock opened at $97.95 on Monday. The business’s 50-day moving average price is $98.99 and its 200-day moving average price is $88.61. NetApp, Inc. has a 12 month low of $60.92 and a 12 month high of $112.48. The firm has a market capitalization of $20.21 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 2.16 and a beta of 1.28. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 2.00.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.25. NetApp had a return on equity of 109.49% and a net margin of 15.21%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the firm posted $1.02 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that NetApp, Inc. will post 5.16 EPS for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.04%. NetApp’s dividend payout ratio (DPR) is 45.45%.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $101.44, for a total transaction of $862,240.00. Following the completion of the transaction, the chief executive officer now directly owns 261,202 shares in the company, valued at $26,496,330.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NetApp news, CFO Michael J. Berry sold 15,000 shares of NetApp stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $102.67, for a total value of $1,540,050.00. Following the completion of the sale, the chief financial officer now directly owns 144,909 shares in the company, valued at $14,877,807.03. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $101.44, for a total value of $862,240.00. Following the completion of the sale, the chief executive officer now owns 261,202 shares of the company’s stock, valued at $26,496,330.88. The disclosure for this sale can be found here. Insiders sold 40,371 shares of company stock worth $4,139,505 over the last ninety days. 0.37% of the stock is owned by insiders.

About NetApp

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, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.