ClariVest Asset Management LLC Sells 32,894 Shares of NetApp Inc. (NTAP)

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ClariVest Asset Management LLC lessened its holdings in NetApp Inc. (NASDAQ:NTAP) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 647,631 shares of the data storage provider’s stock after selling 32,894 shares during the period. NetApp accounts for approximately 0.8% of ClariVest Asset Management LLC’s portfolio, making the stock its 29th largest holding. ClariVest Asset Management LLC’s holdings in NetApp were worth $38,644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Alps Advisors Inc. increased its position in NetApp by 17.4% during the fourth quarter. Alps Advisors Inc. now owns 8,254 shares of the data storage provider’s stock worth $493,000 after purchasing an additional 1,225 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in NetApp during the fourth quarter worth approximately $75,000. Icon Advisers Inc. Co. acquired a new position in NetApp during the fourth quarter worth approximately $961,000. ETF Managers Group LLC increased its position in NetApp by 3,923.2% during the fourth quarter. ETF Managers Group LLC now owns 73,463 shares of the data storage provider’s stock worth $4,384,000 after purchasing an additional 71,637 shares during the last quarter. Finally, LS Investment Advisors LLC increased its position in NetApp by 2.3% during the fourth quarter. LS Investment Advisors LLC now owns 7,681 shares of the data storage provider’s stock worth $458,000 after purchasing an additional 173 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

In other NetApp news, EVP Henri P. Richard sold 2,525 shares of the stock in a transaction on Friday, November 16th. The shares were sold at an average price of $69.55, for a total transaction of $175,613.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Henri P. Richard sold 5,050 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $66.01, for a total transaction of $333,350.50. Following the transaction, the executive vice president now owns 56,707 shares in the company, valued at $3,743,229.07. The disclosure for this sale can be found here. Insiders sold 17,575 shares of company stock valued at $1,175,564 over the last 90 days. Insiders own 0.19% of the company’s stock.

Shares of NTAP stock opened at $66.00 on Monday. The firm has a market capitalization of $16.62 billion, a PE ratio of 22.07, a PEG ratio of 1.16 and a beta of 1.34. The company has a quick ratio of 1.63, a current ratio of 1.65 and a debt-to-equity ratio of 0.75. NetApp Inc. has a twelve month low of $52.00 and a twelve month high of $88.08.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, November 14th. The data storage provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.51 billion. NetApp had a net margin of 4.70% and a return on equity of 51.50%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. On average, research analysts predict that NetApp Inc. will post 4.01 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 23rd. Stockholders of record on Friday, January 4th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.42%. NetApp’s dividend payout ratio (DPR) is presently 53.51%.

Several research firms have recently issued reports on NTAP. Susquehanna Bancshares lowered shares of NetApp from a “positive” rating to a “neutral” rating in a research report on Tuesday, October 23rd. Morgan Stanley increased their price objective on shares of NetApp from $70.00 to $72.00 and gave the stock a “weight” rating in a research report on Thursday, November 15th. Wolfe Research began coverage on shares of NetApp in a research report on Tuesday, December 11th. They issued an “outperform” rating for the company. Zacks Investment Research raised shares of NetApp from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, December 3rd. Finally, DA Davidson set a $100.00 price objective on shares of NetApp and gave the stock a “buy” rating in a research report on Thursday, November 15th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $79.54.

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NetApp Profile

NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

See Also: Hedge Funds

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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