Penserra Capital Management LLC Has $862,000 Position in NetApp, Inc. (NASDAQ:NTAP)

Penserra Capital Management LLC lessened its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 92.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 6,992 shares of the data storage provider’s stock after selling 85,089 shares during the period. Penserra Capital Management LLC’s holdings in NetApp were worth $862,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Intech Investment Management LLC grew its stake in shares of NetApp by 8.9% during the third quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock worth $37,301,000 after purchasing an additional 24,651 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of NetApp by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 186,777 shares of the data storage provider’s stock valued at $24,057,000 after acquiring an additional 8,305 shares during the last quarter. Legal & General Group Plc raised its position in shares of NetApp by 3.5% in the 2nd quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock valued at $309,811,000 after acquiring an additional 82,378 shares during the period. Hilton Capital Management LLC bought a new position in NetApp during the 3rd quarter worth approximately $4,059,000. Finally, Cetera Investment Advisers grew its holdings in NetApp by 132.1% during the first quarter. Cetera Investment Advisers now owns 28,230 shares of the data storage provider’s stock valued at $2,963,000 after purchasing an additional 16,066 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Trading Down 5.5 %

Shares of NASDAQ:NTAP opened at $122.43 on Thursday. The company’s 50-day moving average price is $122.31 and its two-hundred day moving average price is $122.96. NetApp, Inc. has a one year low of $77.56 and a one year high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The stock has a market capitalization of $25.07 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. NetApp’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts forecast that NetApp, Inc. will post 5.79 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, January 3rd. NetApp’s payout ratio is presently 38.24%.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on shares of NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a research report on Monday, August 12th. Wedbush reiterated a “neutral” rating and set a $120.00 target price on shares of NetApp in a report on Friday, November 22nd. Morgan Stanley increased their price target on NetApp from $127.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Stifel Nicolaus lifted their price objective on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, UBS Group raised their target price on shares of NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $134.00.

Insider Activity at NetApp

In other news, CAO Lorenzo Daniel De sold 326 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $117.44, for a total value of $38,285.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 705 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $126.20, for a total transaction of $88,971.00. Following the completion of the sale, the executive vice president now owns 11,694 shares of the company’s stock, valued at $1,475,782.80. This trade represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,049 shares of company stock valued at $2,807,851. 0.47% of the stock is owned by corporate insiders.

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.