Inspire Investing LLC Sells 164 Shares of NetApp, Inc. (NASDAQ:NTAP)

Inspire Investing LLC reduced its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 36,275 shares of the data storage provider’s stock after selling 164 shares during the period. Inspire Investing LLC’s holdings in NetApp were worth $4,211,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Aviso Wealth Management grew its stake in shares of NetApp by 1.4% in the second quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock valued at $792,000 after buying an additional 83 shares in the last quarter. Quarry LP grew its stake in shares of NetApp by 11.7% in the second quarter. Quarry LP now owns 876 shares of the data storage provider’s stock valued at $113,000 after buying an additional 92 shares in the last quarter. OLD National Bancorp IN grew its stake in shares of NetApp by 3.5% in the third quarter. OLD National Bancorp IN now owns 3,492 shares of the data storage provider’s stock valued at $431,000 after buying an additional 118 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of NetApp by 4.5% in the third quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider’s stock valued at $340,000 after buying an additional 118 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of NetApp by 2.4% in the third quarter. V Square Quantitative Management LLC now owns 5,108 shares of the data storage provider’s stock valued at $631,000 after buying an additional 120 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

NetApp Stock Performance

NetApp stock opened at $126.05 on Thursday. NetApp, Inc. has a 12-month low of $83.80 and a 12-month high of $135.45. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The business’s 50-day moving average price is $121.07 and its two-hundred day moving average price is $122.69. The stock has a market cap of $25.63 billion, a PE ratio of 23.17, a P/E/G ratio of 2.93 and a beta of 1.23.

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, beating analysts’ consensus estimates of $1.78 by $0.09. The firm 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%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.23 earnings per share. As a group, analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Friday, January 3rd. NetApp’s dividend payout ratio (DPR) is currently 38.24%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NTAP shares. Northland Securities raised their price target on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. Wedbush reissued a “neutral” rating and set a $120.00 target price on shares of NetApp in a report on Friday, November 22nd. TD Cowen lifted their target price on NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Barclays lifted 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. Finally, StockNews.com downgraded NetApp from a “buy” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $139.20.

Insider Transactions at NetApp

In other news, Director Thomas Michael Nevens sold 3,333 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $119.23, for a total transaction of $397,393.59. Following the sale, the director now directly owns 9,277 shares in the company, valued at approximately $1,106,096.71. The trade was a 26.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 326 shares of NetApp stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $117.44, for a total value of $38,285.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,110 shares of company stock worth $5,077,596. Insiders own 0.47% 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.