NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its stake in NetApp, Inc. (NASDAQ:NTAP) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,236 shares of the data storage provider’s stock after selling 14,177 shares during the period. Illinois Municipal Retirement Fund’s holdings in NetApp were worth $20,922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NTAP. KBC Group NV boosted its stake in NetApp by 276.9% in the fourth quarter. KBC Group NV now owns 891,033 shares of the data storage provider’s stock valued at $103,431,000 after acquiring an additional 654,626 shares during the period. Geode Capital Management LLC raised its holdings in shares of NetApp by 8.2% during the third quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock valued at $738,280,000 after buying an additional 453,324 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of NetApp by 38.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,232,852 shares of the data storage provider’s stock valued at $152,270,000 after buying an additional 342,415 shares during the last quarter. Unigestion Holding SA raised its holdings in shares of NetApp by 926.1% during the third quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider’s stock valued at $35,022,000 after buying an additional 256,028 shares during the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of NetApp by 546.8% during the fourth quarter. Retirement Systems of Alabama now owns 289,504 shares of the data storage provider’s stock valued at $33,606,000 after buying an additional 244,746 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on NetApp from $140.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday, February 20th. Susquehanna cut NetApp from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Barclays boosted their target price on NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a report on Wednesday, February 19th. Finally, Wedbush reissued a “neutral” rating and set a $120.00 target price on shares of NetApp in a report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $137.33.

NetApp Trading Down 0.8 %

NetApp stock opened at $123.50 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 12 month low of $86.43 and a 12 month high of $135.45. The company’s fifty day simple moving average is $120.06 and its 200-day simple moving average is $122.03. The stock has a market cap of $25.11 billion, a P/E ratio of 22.70, a P/E/G ratio of 2.45 and a beta of 1.23.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 451 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the completion of the transaction, the executive vice president now owns 12,005 shares of the company’s stock, valued at $1,402,063.95. The trade was a 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now directly owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,903 shares of company stock valued at $7,260,341. Insiders own 0.47% of the company’s stock.

NetApp 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.