CWM Advisors LLC Reduces Stock Position in NetApp Inc. (NASDAQ:NTAP)

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CWM Advisors LLC lessened its position in NetApp Inc. (NASDAQ:NTAP) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,984 shares of the data storage provider’s stock after selling 330 shares during the period. CWM Advisors LLC’s holdings in NetApp were worth $310,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hoey Investments Inc. bought a new stake in shares of NetApp in the fourth quarter worth about $25,000. North Star Investment Management Corp. purchased a new position in NetApp during the 3rd quarter valued at about $40,000. Advantage Investment Management LLC raised its position in NetApp by 291.0% during the 3rd quarter. Advantage Investment Management LLC now owns 997 shares of the data storage provider’s stock valued at $52,000 after purchasing an additional 742 shares during the last quarter. American National Bank bought a new position in NetApp during the 4th quarter valued at approximately $54,000. Finally, Parallel Advisors LLC raised its position in NetApp by 107.8% during the 3rd quarter. Parallel Advisors LLC now owns 1,087 shares of the data storage provider’s stock valued at $57,000 after purchasing an additional 564 shares during the last quarter. Hedge funds and other institutional investors own 98.27% of the company’s stock.

Shares of NTAP stock opened at $59.81 on Friday. The company’s fifty day moving average price is $62.27 and its 200-day moving average price is $56.58. The stock has a market cap of $13.82 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.37 and a beta of 1.58. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 2.14. NetApp Inc. has a 12 month low of $44.55 and a 12 month high of $78.35.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, November 13th. The data storage provider reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.15. NetApp had a net margin of 17.20% and a return on equity of 95.04%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business earned $1.06 EPS. NetApp’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, sell-side analysts forecast that NetApp Inc. will post 3.72 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Thursday, January 2nd. NetApp’s dividend payout ratio (DPR) is presently 47.76%.

A number of equities research analysts have recently weighed in on the company. Cowen lifted their price objective on NetApp from $45.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 4th. William Blair restated a “market perform” rating on shares of NetApp in a report on Thursday, November 14th. Zacks Investment Research downgraded NetApp from a “strong-buy” rating to a “hold” rating and set a $73.00 target price for the company. in a report on Tuesday, November 19th. Loop Capital raised their price target on NetApp to $70.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Lake Street Capital lifted their price target on shares of NetApp from $49.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $63.24.

In other NetApp news, EVP Henri P. Richard sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $64.20, for a total transaction of $160,500.00. Following the transaction, the executive vice president now owns 143,855 shares in the company, valued at approximately $9,235,491. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Scott R. Allen sold 2,781 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $62.23, for a total transaction of $173,061.63. The disclosure for this sale can be found here. Insiders have sold 5,284 shares of company stock valued at $333,743 in the last ninety days. Insiders own 0.33% of the company’s stock.

NetApp Profile

NetApp, Inc provides software, systems, and services to manage and share data 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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