Brown Brothers Harriman & Co. Sells 90 Shares of NetApp, Inc. (NASDAQ:NTAP)

Brown Brothers Harriman & Co. lessened its stake in NetApp, Inc. (NASDAQ:NTAP) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,328 shares of the data storage provider’s stock after selling 90 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in NetApp were worth $535,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NTAP. Acadian Asset Management LLC raised its position in shares of NetApp by 17.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock valued at $359,517,000 after buying an additional 416,233 shares in the last quarter. Legal & General Group Plc increased its stake in NetApp by 3.5% in the second quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock valued at $309,811,000 after acquiring an additional 82,378 shares during the last quarter. Dimensional Fund Advisors LP raised its position in NetApp by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,737,578 shares of the data storage provider’s stock valued at $223,806,000 after purchasing an additional 196,952 shares in the last quarter. AQR Capital Management LLC lifted its stake in NetApp by 59.6% during the second quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock worth $211,637,000 after purchasing an additional 613,583 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of NetApp by 3.1% in the 1st quarter. Boston Partners now owns 1,361,262 shares of the data storage provider’s stock valued at $142,879,000 after purchasing an additional 41,011 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 705 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. The trade was a 5.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $126.11, for a total value of $1,071,935.00. Following the transaction, the chief executive officer now owns 292,778 shares in the company, valued at $36,922,233.58. The trade was a 2.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,049 shares of company stock valued at $2,807,851. 0.47% of the stock is currently owned by insiders.

NetApp Trading Up 2.7 %

NASDAQ NTAP opened at $129.60 on Wednesday. The firm has a market capitalization of $26.54 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. The business’s 50-day moving average price is $122.25 and its two-hundred day moving average price is $122.96. 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, Inc. has a 12 month low of $77.56 and a 12 month high of $135.45.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 EPS. On average, analysts expect that NetApp, Inc. will post 5.79 EPS for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.08 annualized dividend and a yield of 1.60%. NetApp’s payout ratio is 38.24%.

Wall Street Analyst Weigh In

NTAP has been the subject of several recent analyst reports. Citigroup upped their price objective on NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays increased their target price on shares of NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Bank of America lifted their price target on shares of NetApp from $115.00 to $121.00 and gave the company an “underperform” rating in a report on Friday, November 22nd. Northland Securities increased their price objective on shares of NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus raised their target price on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $134.00.

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.