NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. cut its holdings in NetApp, Inc. (NASDAQ:NTAP) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 167,665 shares of the data storage provider’s stock after selling 1,015 shares during the quarter. Crossmark Global Holdings Inc. owned about 0.08% of NetApp worth $19,463,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. lifted its holdings in shares of NetApp by 28.8% during the fourth quarter. UMB Bank n.a. now owns 900 shares of the data storage provider’s stock worth $104,000 after purchasing an additional 201 shares during the period. Diversify Advisory Services LLC lifted its stake in shares of NetApp by 77.8% in the 4th quarter. Diversify Advisory Services LLC now owns 4,323 shares of the data storage provider’s stock worth $503,000 after acquiring an additional 1,891 shares during the period. Artemis Investment Management LLP boosted its holdings in shares of NetApp by 15.6% in the fourth quarter. Artemis Investment Management LLP now owns 83,472 shares of the data storage provider’s stock valued at $9,689,000 after acquiring an additional 11,278 shares in the last quarter. Kera Capital Partners Inc. acquired a new position in shares of NetApp during the fourth quarter worth about $213,000. Finally, HB Wealth Management LLC lifted its position in NetApp by 6.1% in the fourth quarter. HB Wealth Management LLC now owns 3,204 shares of the data storage provider’s stock valued at $372,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Bank of America raised their price target on NetApp from $115.00 to $121.00 and gave the company an “underperform” rating in a report on Friday, November 22nd. StockNews.com downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Monday. Oppenheimer initiated coverage on shares of NetApp in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. Stifel Nicolaus boosted their price target on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 price objective for the company in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $139.20.

NetApp Stock Performance

NetApp stock opened at $122.09 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The firm’s fifty day moving average price is $120.88 and its 200 day moving average price is $122.76. The company has a market capitalization of $24.82 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 2.90 and a beta of 1.23. NetApp, Inc. has a 12-month low of $83.80 and a 12-month high of $135.45.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data 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 firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. NetApp’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. On average, research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, January 3rd. NetApp’s dividend payout ratio is currently 38.24%.

Insider Transactions at NetApp

In other NetApp news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 451 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $116.79, for a total value of $52,672.29. Following the sale, the executive vice president now owns 12,005 shares in the company, valued at $1,402,063.95. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,110 shares of company stock valued at $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.