Park Avenue Securities LLC Has $581,000 Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Park Avenue Securities LLC trimmed its holdings in NetApp, Inc. (NASDAQ:NTAP) by 6.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,702 shares of the data storage provider’s stock after selling 349 shares during the quarter. Park Avenue Securities LLC’s holdings in NetApp were worth $581,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of NetApp in the second quarter worth about $26,000. Rise Advisors LLC bought a new position in NetApp in the 1st quarter worth approximately $27,000. J.Safra Asset Management Corp raised its position in NetApp by 706.3% in the 1st quarter. J.Safra Asset Management Corp now owns 258 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 226 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in NetApp during the 1st quarter worth $28,000. Finally, Redwood Wealth Management Group LLC bought a new position in NetApp in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insiders Place Their Bets

In other news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $130.36, for a total value of $1,108,060.00. Following the sale, the chief executive officer now directly owns 314,274 shares in the company, valued at $40,968,758.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Elizabeth M. O’callahan sold 705 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 11,694 shares in the company, valued at approximately $1,475,782.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Monday, July 15th. The shares were sold at an average price of $130.36, for a total transaction of $1,108,060.00. Following the completion of the sale, the chief executive officer now owns 314,274 shares in the company, valued at $40,968,758.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,890 shares of company stock worth $1,405,297. Corporate insiders own 0.47% of the company’s stock.

NetApp Stock Up 1.6 %

Shares of NetApp stock opened at $126.93 on Friday. The company has a market capitalization of $25.99 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 4.77 and a beta of 1.23. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. The business has a 50-day moving average of $122.87 and a two-hundred day moving average of $118.52. NetApp, Inc. has a 1 year low of $70.82 and a 1 year high of $135.01.

NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the business earned $0.84 EPS. NetApp’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts predict that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Friday, October 4th. NetApp’s payout ratio is presently 40.63%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NTAP. JPMorgan Chase & Co. boosted their target price on NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. UBS Group upped their target price on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Susquehanna reaffirmed a “positive” rating and issued a $155.00 target price on shares of NetApp in a research note on Monday, August 26th. Citigroup boosted their price target on shares of NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of NetApp in a research note on Monday, August 26th. One 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 MarketBeat, NetApp has a consensus rating of “Hold” and an average price target of $129.06.

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.