Retirement Systems of Alabama Trims Holdings in NetApp Inc. (NTAP)

Retirement Systems of Alabama lowered its position in NetApp Inc. (NASDAQ:NTAP) by 62.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 334,563 shares of the data storage provider’s stock after selling 566,117 shares during the quarter. Retirement Systems of Alabama owned 0.13% of NetApp worth $28,736,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NTAP. Xact Kapitalforvaltning AB lifted its stake in NetApp by 1.5% during the third quarter. Xact Kapitalforvaltning AB now owns 70,090 shares of the data storage provider’s stock worth $6,020,000 after purchasing an additional 1,012 shares during the period. First Midwest Bank Trust Division lifted its stake in NetApp by 13.6% during the third quarter. First Midwest Bank Trust Division now owns 16,605 shares of the data storage provider’s stock worth $1,426,000 after purchasing an additional 1,986 shares during the period. First Quadrant L P CA bought a new position in NetApp during the third quarter worth about $7,263,000. Calamos Advisors LLC bought a new position in shares of NetApp during the 3rd quarter worth approximately $206,000. Finally, IFM Investors Pty Ltd lifted its position in shares of NetApp by 6.7% during the 3rd quarter. IFM Investors Pty Ltd now owns 14,312 shares of the data storage provider’s stock worth $1,229,000 after buying an additional 893 shares during the period. Institutional investors own 94.88% of the company’s stock.

Several equities analysts recently commented on the company. Susquehanna Bancshares downgraded NetApp from a “positive” rating to a “neutral” rating in a research report on Tuesday. UBS Group downgraded NetApp from a “positive” rating to a “neutral” rating in a research report on Tuesday. Goldman Sachs Group raised NetApp from a “neutral” rating to a “conviction-buy” rating and set a $91.00 price objective for the company in a report on Wednesday, October 17th. BidaskClub cut NetApp from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Finally, Zacks Investment Research cut NetApp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. NetApp has a consensus rating of “Buy” and a consensus price target of $81.38.



In other news, CEO George Kurian sold 46,638 shares of the business’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $84.76, for a total transaction of $3,953,036.88. Following the completion of the sale, the chief executive officer now owns 55,950 shares in the company, valued at $4,742,322. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Henri P. Richard sold 2,525 shares of the business’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $76.99, for a total value of $194,399.75. Following the sale, the executive vice president now owns 65,907 shares of the company’s stock, valued at approximately $5,074,179.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,451 shares of company stock valued at $10,578,714. Insiders own 0.19% of the company’s stock.

NetApp stock opened at $76.24 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.06 and a quick ratio of 2.03. NetApp Inc. has a 12-month low of $43.24 and a 12-month high of $88.08. The stock has a market capitalization of $20.82 billion, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 1.45 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, August 15th. The data storage provider reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.24. NetApp had a return on equity of 41.75% and a net margin of 3.68%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the business posted $0.62 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that NetApp Inc. will post 3.91 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Thursday, October 4th. NetApp’s dividend payout ratio is presently 53.51%.

NetApp Profile

NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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