Trustmark National Bank Trust Department Takes $1.42 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Trustmark National Bank Trust Department purchased a new position in NetApp, Inc. (NASDAQ:NTAP) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,482 shares of the data storage provider’s stock, valued at approximately $1,418,000.

Several other hedge funds have also recently bought and sold shares of NTAP. AQR Capital Management LLC lifted its stake in NetApp by 59.6% during the second quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock worth $211,637,000 after purchasing an additional 613,583 shares during the period. TCW Group Inc. bought a new position in shares of NetApp during the second quarter worth $56,313,000. Acadian Asset Management LLC boosted its position in shares of NetApp by 17.5% during the second quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock worth $359,517,000 after purchasing an additional 416,233 shares in the last quarter. APG Asset Management US Inc. bought a new position in shares of NetApp during the second quarter worth $48,074,000. Finally, Robeco Institutional Asset Management B.V. lifted its position 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. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Michael Nevens sold 3,333 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $119.23, for a total value of $397,393.59. Following the completion of the transaction, the director now directly owns 9,277 shares of the company’s stock, valued at $1,106,096.71. This represents a 26.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,049 shares of company stock worth $2,807,851 over the last 90 days. 0.47% of the stock is owned by insiders.

NetApp Stock Performance

Shares of NetApp stock opened at $126.75 on Friday. NetApp, Inc. has a one year low of $77.46 and a one year high of $135.01. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. The company has a market capitalization of $25.96 billion, a PE ratio of 24.76, a P/E/G ratio of 3.13 and a beta of 1.24. The company has a 50-day simple moving average of $121.77 and a two-hundred day simple moving average of $122.39.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.78 by $0.09. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 EPS. Research analysts expect that NetApp, Inc. will post 5.71 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.64%. NetApp’s payout ratio is presently 40.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NTAP shares. Wedbush reissued a “neutral” rating and set a $120.00 price target on shares of NetApp in a research report on Monday, August 26th. Stifel Nicolaus upped their price target on shares of NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Citigroup increased their target price on shares of NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Bank of America increased their target price on shares of NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, Susquehanna reaffirmed a “positive” rating and set a $155.00 price target on shares of NetApp in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $129.06.

About NetApp

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.