Goldman Sachs Group Inc. Has $231.19 Million Holdings in NetApp, Inc. $NTAP

Goldman Sachs Group Inc. lowered its stake in NetApp, Inc. (NASDAQ:NTAP) by 6.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,631,939 shares of the data storage provider’s stock after selling 192,063 shares during the period. Goldman Sachs Group Inc. owned approximately 1.31% of NetApp worth $231,190,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Kestra Investment Management LLC lifted its position in shares of NetApp by 29.7% in the first quarter. Kestra Investment Management LLC now owns 8,598 shares of the data storage provider’s stock worth $755,000 after buying an additional 1,970 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of NetApp by 1,032.6% in the first quarter. Jones Financial Companies Lllp now owns 31,870 shares of the data storage provider’s stock worth $2,799,000 after buying an additional 29,056 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of NetApp by 119.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 5,869 shares of the data storage provider’s stock worth $516,000 after buying an additional 3,193 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in shares of NetApp by 9.9% in the first quarter. UniSuper Management Pty Ltd now owns 52,461 shares of the data storage provider’s stock worth $4,608,000 after buying an additional 4,737 shares during the last quarter. Finally, Scientech Research LLC acquired a new stake in shares of NetApp in the first quarter worth about $1,194,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Activity

In related news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $101.78, for a total transaction of $865,130.00. Following the transaction, the chief executive officer directly owned 296,805 shares in the company, valued at $30,208,812.90. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $105.90, for a total value of $105,900.00. Following the transaction, the executive vice president owned 23,251 shares in the company, valued at $2,462,280.90. This represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,500 shares of company stock worth $2,921,775 over the last 90 days. Corporate insiders own 0.28% of the company’s stock.

NetApp Trading Up 1.6%

Shares of NTAP opened at $123.12 on Wednesday. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $24.58 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 2.63 and a beta of 1.46. The stock’s 50-day moving average price is $108.51 and its 200 day moving average price is $99.91.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, October 3rd. NetApp’s payout ratio is currently 36.75%.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of recent analyst reports. Wedbush reiterated a “neutral” rating and issued a $150.00 price objective on shares of NetApp in a research note on Thursday, August 28th. JPMorgan Chase & Co. lifted their price objective on NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Barclays lifted their price objective on NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Argus reiterated a “buy” rating and issued a $130.00 price objective on shares of NetApp in a research note on Friday, August 29th. Finally, Wells Fargo & Company dropped their price objective on NetApp from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, May 30th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $124.07.

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.