New York Life Investment Management LLC Sells 361 Shares of NetApp, Inc. (NASDAQ:NTAP)

New York Life Investment Management LLC reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,212 shares of the data storage provider’s stock after selling 361 shares during the period. New York Life Investment Management LLC’s holdings in NetApp were worth $2,928,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Wedge Capital Management L L P NC acquired a new stake in shares of NetApp during the fourth quarter worth $74,257,000. Qube Research & Technologies Ltd lifted its holdings in shares of NetApp by 689.7% in the third quarter. Qube Research & Technologies Ltd now owns 804,237 shares of the data storage provider’s stock valued at $61,026,000 after purchasing an additional 702,391 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of NetApp by 10,320.5% during the third quarter. Panagora Asset Management Inc. now owns 577,504 shares of the data storage provider’s stock worth $43,821,000 after buying an additional 571,962 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of NetApp by 31.7% during the third quarter. Royal Bank of Canada now owns 1,109,662 shares of the data storage provider’s stock worth $84,202,000 after buying an additional 266,812 shares in the last quarter. Finally, Ariel Investments LLC raised its position in NetApp by 25.0% in the 3rd quarter. Ariel Investments LLC now owns 899,155 shares of the data storage provider’s stock valued at $68,228,000 after buying an additional 179,684 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Up 2.5 %

NTAP opened at $104.64 on Monday. The stock’s fifty day simple moving average is $101.88 and its 200 day simple moving average is $90.39. NetApp, Inc. has a 1-year low of $61.54 and a 1-year high of $112.48. The stock has a market cap of $21.60 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 2.18 and a beta of 1.27. 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 released its quarterly earnings data on Thursday, February 29th. The data storage provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.69 by $0.25. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.59 billion. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 earnings per share. As a group, research analysts expect that NetApp, Inc. will post 5.16 earnings per share for the current year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 1.91%. NetApp’s dividend payout ratio is currently 45.45%.

Analysts Set New Price Targets

NTAP has been the subject of several research reports. UBS Group raised their price target on shares of NetApp from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. StockNews.com cut shares of NetApp from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $120.00 price target (up from $105.00) on shares of NetApp in a research note on Friday, March 1st. Evercore ISI increased their price objective on shares of NetApp from $95.00 to $105.00 and gave the stock an “in-line” rating in a research note on Friday, March 1st. Finally, Barclays raised their price objective on NetApp from $80.00 to $100.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $100.60.

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 871 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total transaction of $89,730.42. Following the transaction, the executive vice president now owns 9,601 shares in the company, valued at $989,095.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Michael J. Berry sold 7,500 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $102.75, for a total value of $770,625.00. Following the completion of the sale, the chief financial officer now owns 152,409 shares of the company’s stock, valued at $15,660,024.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 871 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total transaction of $89,730.42. Following the completion of the transaction, the executive vice president now owns 9,601 shares in the company, valued at $989,095.02. The disclosure for this sale can be found here. Insiders sold 40,371 shares of company stock worth $4,139,505 over the last three months. Insiders own 0.37% of the company’s stock.

NetApp Company Profile

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.