California Public Employees Retirement System Has $112.03 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

California Public Employees Retirement System lifted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,270,712 shares of the data storage provider’s stock after acquiring an additional 6,512 shares during the quarter. California Public Employees Retirement System’s holdings in NetApp were worth $112,026,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. ORG Partners LLC lifted its holdings in shares of NetApp by 14,650.0% during the fourth quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock worth $26,000 after purchasing an additional 293 shares during the period. UMB Bank n.a. lifted its holdings in shares of NetApp by 82.9% during the fourth quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 150 shares during the period. Larson Financial Group LLC acquired a new position in shares of NetApp during the third quarter worth $27,000. Planned Solutions Inc. acquired a new position in shares of NetApp during the fourth quarter worth $34,000. Finally, First Pacific Financial acquired a new position in shares of NetApp during the third quarter worth $29,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

NTAP has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of NetApp from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. Argus upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Monday, March 4th. Wedbush lifted their price target on shares of NetApp from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Evercore ISI lifted their price target on shares of NetApp from $95.00 to $105.00 and gave the company an “in-line” rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $120.00 price target (up from $105.00) on shares of NetApp in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $100.60.

NetApp Stock Up 1.5 %

NetApp stock opened at $99.42 on Wednesday. NetApp, Inc. has a fifty-two week low of $60.92 and a fifty-two week high of $112.48. The stock has a market cap of $20.52 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.16 and a beta of 1.28. The firm’s 50-day simple moving average is $99.38 and its 200 day simple moving average is $88.94. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.25. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts predict that NetApp, Inc. will post 5.16 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.01%. The ex-dividend date is Thursday, April 4th. NetApp’s dividend payout ratio (DPR) is presently 45.45%.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $103.16, for a total value of $876,860.00. Following the transaction, the chief executive officer now directly owns 252,702 shares in the company, valued at $26,068,738.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $103.16, for a total transaction of $876,860.00. Following the sale, the chief executive officer now directly owns 252,702 shares in the company, valued at approximately $26,068,738.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 871 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total transaction of $89,730.42. Following the sale, the executive vice president now owns 9,601 shares in the company, valued at $989,095.02. The disclosure for this sale can be found here. Insiders have sold a total of 40,371 shares of company stock worth $4,139,505 over the last three months. 0.37% of the stock is currently owned by insiders.

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.