Public Sector Pension Investment Board Purchases 1,000 Shares of NetApp, Inc. (NASDAQ:NTAP)

Public Sector Pension Investment Board lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 12.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,897 shares of the data storage provider’s stock after purchasing an additional 1,000 shares during the quarter. Public Sector Pension Investment Board’s holdings in NetApp were worth $1,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in shares of NetApp by 11.8% during the second quarter. UMB Bank n.a. now owns 784 shares of the data storage provider’s stock valued at $101,000 after purchasing an additional 83 shares during the last quarter. Aviso Wealth Management boosted its holdings in NetApp by 1.4% in the second quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock worth $792,000 after acquiring an additional 83 shares in the last quarter. Waldron Private Wealth LLC grew its stake in shares of NetApp by 4.3% in the second quarter. Waldron Private Wealth LLC now owns 2,255 shares of the data storage provider’s stock worth $290,000 after acquiring an additional 92 shares during the last quarter. Quarry LP increased its holdings in shares of NetApp by 11.7% during the second quarter. Quarry LP now owns 876 shares of the data storage provider’s stock valued at $113,000 after acquiring an additional 92 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its position in shares of NetApp by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider’s stock worth $2,437,000 after purchasing an additional 95 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Thomas Michael Nevens sold 3,333 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $119.23, for a total value of $397,393.59. Following the completion of the transaction, the director now owns 9,277 shares of the company’s stock, valued at approximately $1,106,096.71. This represents a 26.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 1,685 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,049 shares of company stock valued at $2,807,851. 0.47% of the stock is owned by corporate insiders.

NetApp Stock Up 1.8 %

NTAP opened at $131.11 on Friday. The firm’s 50 day simple moving average is $122.84 and its two-hundred day simple moving average is $123.72. The company has a market capitalization of $26.66 billion, a PE ratio of 24.10, a PEG ratio of 3.09 and a beta of 1.23. NetApp, Inc. has a 1-year low of $83.62 and a 1-year high of $135.45. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. NetApp’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS. As a group, equities analysts forecast that NetApp, Inc. will post 5.83 EPS for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.59%. NetApp’s dividend payout ratio (DPR) is presently 38.24%.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of NetApp from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. UBS Group raised their price target 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. Loop Capital raised NetApp from a “hold” rating to a “buy” rating and upped their price objective for the company from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Susquehanna reissued a “positive” rating and issued a $155.00 target price on shares of NetApp in a report on Monday, August 26th. Finally, Stifel Nicolaus upped their price target on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, NetApp presently has a consensus rating of “Hold” and a consensus price target of $137.40.

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.