Northwestern Mutual Investment Management Company LLC Decreases Stake in NetApp, Inc. (NTAP)

Northwestern Mutual Investment Management Company LLC cut its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 79.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,028 shares of the data storage provider’s stock after selling 43,743 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in NetApp were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Beacon Advisors Inc. purchased a new stake in NetApp during the first quarter valued at about $110,000. Cambridge Investment Research Advisors Inc. lifted its holdings in NetApp by 3.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,189 shares of the data storage provider’s stock valued at $208,000 after purchasing an additional 185 shares during the last quarter. Eagle Global Advisors LLC purchased a new stake in NetApp during the second quarter valued at about $210,000. CAPROCK Group Inc. lifted its holdings in NetApp by 0.8% during the second quarter. CAPROCK Group Inc. now owns 5,278 shares of the data storage provider’s stock valued at $211,000 after purchasing an additional 44 shares during the last quarter. Finally, Pitcairn Co. purchased a new stake in NetApp during the second quarter valued at about $211,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

In other NetApp news, CEO George Kurian sold 59,697 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $39.93, for a total value of $2,383,701.21. Following the completion of the sale, the chief executive officer now directly owns 87,295 shares in the company, valued at approximately $3,485,689.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $43.41, for a total value of $85,778.16. Following the completion of the sale, the executive vice president now owns 19,788 shares of the company’s stock, valued at $858,997.08. The disclosure for this sale can be found here. Insiders sold a total of 85,202 shares of company stock valued at $3,427,038 over the last quarter. Company insiders own 0.47% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Northwestern Mutual Investment Management Company LLC Decreases Stake in NetApp, Inc. (NTAP)” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://ledgergazette.com/2017/09/26/netapp-inc-ntap-shares-sold-by-northwestern-mutual-investment-management-company-llc.html.

A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of NetApp from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Credit Suisse Group increased their price target on shares of NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. Morgan Stanley reissued an “underweight” rating on shares of NetApp in a report on Saturday. Drexel Hamilton reissued a “buy” rating and issued a $62.00 price target on shares of NetApp in a report on Monday. Finally, Lake Street Capital increased their price target on shares of NetApp from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $43.89.

NetApp, Inc. (NASDAQ NTAP) opened at 42.70 on Tuesday. NetApp, Inc. has a 12 month low of $30.36 and a 12 month high of $45.24. The firm’s 50-day moving average price is $40.34 and its 200 day moving average price is $40.60. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 20.62 and a beta of 1.22.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts anticipate that NetApp, Inc. will post $3.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend an

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Beacon Advisors Inc. purchased a new stake in NetApp during the first quarter valued at about $110,000. Cambridge Investment Research Advisors Inc. lifted its holdings in NetApp by 3.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,189 shares of the data storage provider’s stock valued at $208,000 after purchasing an additional 185 shares during the last quarter. Eagle Global Advisors LLC purchased a new stake in NetApp during the second quarter valued at about $210,000. CAPROCK Group Inc. lifted its holdings in NetApp by 0.8% during the second quarter. CAPROCK Group Inc. now owns 5,278 shares of the data storage provider’s stock valued at $211,000 after purchasing an additional 44 shares during the last quarter. Finally, Pitcairn Co. purchased a new stake in NetApp during the second quarter valued at about $211,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

In other NetApp news, CEO George Kurian sold 59,697 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $39.93, for a total value of $2,383,701.21. Following the completion of the sale, the chief executive officer now directly owns 87,295 shares in the company, valued at approximately $3,485,689.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $43.41, for a total value of $85,778.16. Following the completion of the sale, the executive vice president now owns 19,788 shares of the company’s stock, valued at $858,997.08. The disclosure for this sale can be found here. Insiders sold a total of 85,202 shares of company stock valued at $3,427,038 over the last quarter. Company insiders own 0.47% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Northwestern Mutual Investment Management Company LLC Decreases Stake in NetApp, Inc. (NTAP)” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://ledgergazette.com/2017/09/26/netapp-inc-ntap-shares-sold-by-northwestern-mutual-investment-management-company-llc.html.

A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of NetApp from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Credit Suisse Group increased their price target on shares of NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. Morgan Stanley reissued an “underweight” rating on shares of NetApp in a report on Saturday. Drexel Hamilton reissued a “buy” rating and issued a $62.00 price target on shares of NetApp in a report on Monday. Finally, Lake Street Capital increased their price target on shares of NetApp from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $43.89.

NetApp, Inc. (NASDAQ NTAP) opened at 42.70 on Tuesday. NetApp, Inc. has a 12 month low of $30.36 and a 12 month high of $45.24. The firm’s 50-day moving average price is $40.34 and its 200 day moving average price is $40.60. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 20.62 and a beta of 1.22.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts anticipate that NetApp, Inc. will post $3.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, October 5th. NetApp’s dividend payout ratio is 38.65%.

NetApp Profile

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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