MassMutual Private Wealth & Trust FSB Has $86,000 Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

MassMutual Private Wealth & Trust FSB lessened its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 11.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 738 shares of the data storage provider’s stock after selling 96 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in NetApp were worth $86,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. State Street Corp lifted its position in shares of NetApp by 2.0% during the 3rd quarter. State Street Corp now owns 10,261,170 shares of the data storage provider’s stock worth $1,267,357,000 after purchasing an additional 199,384 shares during the last quarter. Geode Capital Management LLC raised its holdings in NetApp by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock valued at $738,280,000 after acquiring an additional 453,324 shares in the last quarter. Legal & General Group Plc raised its holdings in NetApp by 3.5% in the 2nd quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock valued at $309,811,000 after acquiring an additional 82,378 shares in the last quarter. AQR Capital Management LLC raised its holdings in NetApp by 59.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock valued at $211,637,000 after acquiring an additional 613,583 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in NetApp by 38.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,232,852 shares of the data storage provider’s stock valued at $152,270,000 after acquiring an additional 342,415 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the subject of several recent research reports. Barclays upped their price target on NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Morgan Stanley upped their price target on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Stifel Nicolaus upped their price target on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Bank of America increased their target price on NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a report on Friday, November 22nd. Finally, Northland Securities increased their target price on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $139.20.

NetApp Stock Performance

NTAP stock opened at $126.30 on Friday. The business’s 50-day moving average price is $121.07 and its two-hundred day moving average price is $122.69. 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 firm has a market cap of $25.68 billion, a PE ratio of 23.22, a P/E/G ratio of 2.93 and a beta of 1.23. NetApp, Inc. has a 1-year low of $83.80 and a 1-year high of $135.45.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 earnings per share. As a group, research analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a $0.52 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.65%. NetApp’s dividend payout ratio (DPR) is 38.24%.

Insider Activity

In related news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $123.03, for a total value of $1,045,755.00. Following the sale, the chief executive officer now owns 271,282 shares of the company’s stock, valued at approximately $33,375,824.46. The trade was a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the sale, the president now directly owns 27,099 shares in the company, valued at approximately $3,116,114.01. This represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,610 shares of company stock worth $6,123,351 over the last three months. Corporate insiders own 0.47% of the company’s stock.

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.