New York State Common Retirement Fund Sells 11,800 Shares of NetApp, Inc. (NASDAQ:NTAP)

New York State Common Retirement Fund decreased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 9.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 108,325 shares of the data storage provider’s stock after selling 11,800 shares during the period. New York State Common Retirement Fund owned 0.05% of NetApp worth $12,574,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of NetApp during the fourth quarter valued at about $26,000. Golden State Wealth Management LLC purchased a new position in NetApp during the fourth quarter valued at approximately $35,000. True Wealth Design LLC increased its holdings in NetApp by 2,833.3% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after acquiring an additional 340 shares during the period. Capital Performance Advisors LLP purchased a new stake in NetApp in the 3rd quarter worth approximately $44,000. Finally, Ashton Thomas Securities LLC bought a new position in NetApp in the 3rd quarter valued at $51,000. Institutional investors own 92.17% of the company’s stock.

Insiders Place Their Bets

In other news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $124.29, for a total value of $1,056,465.00. Following the transaction, the chief executive officer now owns 279,782 shares in the company, valued at approximately $34,774,104.78. This trade represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 452 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $120.75, for a total transaction of $54,579.00. Following the sale, the executive vice president now owns 11,553 shares of the company’s stock, valued at $1,395,024.75. This represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,903 shares of company stock valued at $7,260,341 in the last ninety days. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

NTAP has been the topic of several research analyst reports. Citigroup upped their price target on shares of NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Oppenheimer assumed coverage on NetApp in a research note on Wednesday, November 13th. They issued a “market perform” rating on the stock. Northland Securities lifted their price target on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upgraded shares of NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 price objective on the stock in a research report on Monday, December 16th. Finally, Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and raised their target price for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $137.33.

NetApp Stock Down 0.8 %

NTAP opened at $123.50 on Tuesday. NetApp, Inc. has a 12 month low of $86.43 and a 12 month 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. The business’s 50-day moving average price is $120.06 and its 200-day moving average price is $122.03. The company has a market cap of $25.11 billion, a P/E ratio of 22.70, a P/E/G ratio of 2.45 and a beta of 1.23.

About NetApp

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.