Janus Henderson Group PLC Sells 1,406 Shares of NetApp, Inc. (NASDAQ:NTAP)

Janus Henderson Group PLC lessened its stake in NetApp, Inc. (NASDAQ:NTAP) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,243 shares of the data storage provider’s stock after selling 1,406 shares during the period. Janus Henderson Group PLC’s holdings in NetApp were worth $6,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NTAP. Intech Investment Management LLC raised its stake in shares of NetApp by 8.9% during the 3rd quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock worth $37,301,000 after acquiring an additional 24,651 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in NetApp by 20.9% in the third quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock worth $5,225,000 after purchasing an additional 7,318 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of NetApp by 4.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 186,777 shares of the data storage provider’s stock valued at $24,057,000 after purchasing an additional 8,305 shares during the last quarter. Hilton Capital Management LLC acquired a new stake in shares of NetApp in the 3rd quarter worth $4,059,000. Finally, Legal & General Group Plc grew its stake in NetApp by 3.5% during the 2nd quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock worth $309,811,000 after buying an additional 82,378 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In other news, CAO Lorenzo Daniel De sold 1,685 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total value of $208,266.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 705 shares of the business’s stock in a transaction 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 in the company, valued at $1,475,782.80. This trade represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,049 shares of company stock worth $2,807,851. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

NTAP has been the topic of a number of recent analyst reports. Barclays upped their price target on shares of NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Evercore ISI upped their target price on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research report on Monday, August 12th. Northland Securities lifted their price target on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday, November 22nd. Bank of America increased their price objective on NetApp from $115.00 to $121.00 and gave the company an “underperform” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus lifted their target price on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $137.40.

NetApp Stock Performance

Shares of NTAP stock opened at $127.60 on Tuesday. The company has a market capitalization of $25.94 billion, a P/E ratio of 23.46, a P/E/G ratio of 3.14 and a beta of 1.23. NetApp, Inc. has a 12-month low of $83.62 and a 12-month high of $135.45. The business’s 50 day moving average is $122.92 and its two-hundred day moving average is $123.88. 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 (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm posted $1.23 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. Analysts expect that NetApp, Inc. will post 5.83 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, January 3rd. NetApp’s dividend payout ratio is currently 38.24%.

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.