NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 23.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,342,751 shares of the data storage provider’s stock after selling 417,804 shares during the period. Los Angeles Capital Management LLC owned about 0.66% of NetApp worth $155,867,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NTAP. State Street Corp grew its holdings in shares of NetApp by 2.0% during the third quarter. State Street Corp now owns 10,261,170 shares of the data storage provider’s stock worth $1,267,357,000 after buying an additional 199,384 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of NetApp by 8.2% during the third quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock worth $738,280,000 after buying an additional 453,324 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of NetApp by 9.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock worth $156,268,000 after buying an additional 113,360 shares in the last quarter. KBC Group NV grew its holdings in NetApp by 276.9% in the fourth quarter. KBC Group NV now owns 891,033 shares of the data storage provider’s stock valued at $103,431,000 after purchasing an additional 654,626 shares during the period. Finally, Barclays PLC grew its holdings in NetApp by 31.4% in the third quarter. Barclays PLC now owns 784,339 shares of the data storage provider’s stock valued at $96,873,000 after purchasing an additional 187,638 shares during the period. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NetApp

In related news, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total value of $1,011,840.00. Following the completion of the transaction, the chief executive officer now owns 266,765 shares in the company, valued at $31,755,705.60. This represents a 3.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares of the company’s stock, valued at $3,116,114.01. This represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,903 shares of company stock worth $7,260,341. Insiders own 0.47% of the company’s stock.

NetApp Stock Down 0.8 %

NetApp stock opened at $123.50 on Tuesday. The company has a 50-day simple moving average of $120.06 and a 200-day simple moving average of $122.03. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. NetApp, Inc. has a one year low of $86.43 and a one year high of $135.45.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NTAP shares. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Barclays boosted their target price on shares of NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Oppenheimer initiated coverage on shares of NetApp in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. StockNews.com raised shares of NetApp from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley lifted their price target on shares of NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $137.33.

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.