Smith Asset Management Group LP Has Decreased Netapp INC (NTAP) Position by $9.18 Million as Shares Declined

NetApp, Inc. (NASDAQ:NTAP) LogoInvestors sentiment decreased to 1.05 in 2018 Q3. Its down 0.07, from 1.12 in 2018Q2. It dived, as 20 investors sold NTAP shares while 193 reduced holdings. 77 funds opened positions while 147 raised stakes. 227.19 million shares or 3.60% less from 235.68 million shares in 2018Q2 were reported. Stifel Fin reported 368,670 shares or 0.09% of all its holdings. Schwab Charles Inv Mngmt has 1.16 million shares. First Republic Investment Mngmt accumulated 104,792 shares or 0.04% of the stock. Segment Wealth Lc reported 3,456 shares or 0.06% of all its holdings. Clenar Muke Llc holds 0.01% or 2,877 shares. Moreover, Neuberger Berman Group Ltd Llc has 0.07% invested in NetApp, Inc. (NASDAQ:NTAP). Bnp Paribas Asset Mgmt holds 0.01% or 7,840 shares. Ing Groep Nv accumulated 63,614 shares or 0.09% of the stock. Chevy Chase Trust Incorporated holds 0.08% of its portfolio in NetApp, Inc. (NASDAQ:NTAP) for 212,810 shares. Sector Pension Inv Board has invested 0.03% of its portfolio in NetApp, Inc. (NASDAQ:NTAP). Natixis holds 0.34% of its portfolio in NetApp, Inc. (NASDAQ:NTAP) for 679,000 shares. Farmers And Merchants holds 113 shares. New Mexico Educational Retirement Board has invested 0.08% in NetApp, Inc. (NASDAQ:NTAP). Clifford Swan Counsel Ltd Liability Corp holds 0.24% in NetApp, Inc. (NASDAQ:NTAP) or 53,375 shares. Signaturefd Ltd Liability Com holds 0.01% in NetApp, Inc. (NASDAQ:NTAP) or 1,231 shares.

Since June 13, 2018, it had 0 insider buys, and 18 insider sales for $20.07 million activity. RICHARD HENRI P had sold 2,525 shares worth $194,394. Shares for $519,638 were sold by Kurian George. Another trade for 26,997 shares valued at $2.05M was made by Hill Kathryn on Wednesday, June 13. HELD GERALD also sold $349,916 worth of NetApp, Inc. (NASDAQ:NTAP) on Monday, June 18.

Smith Asset Management Group Lp decreased its stake in Netapp Inc (NTAP) by 9.43% based on its latest 2018Q3 regulatory filing with the SEC. Smith Asset Management Group Lp sold 107,976 shares as the company’s stock declined 21.46% with the market. The hedge fund held 1.04M shares of the technology company at the end of 2018Q3, valued at $88.92M, down from 1.15 million at the end of the previous reported quarter. Smith Asset Management Group Lp who had been investing in Netapp Inc for a number of months, seems to be less bullish one the $16.17B market cap company. The stock decreased 2.18% or $1.43 during the last trading session, reaching $64.2. About 4.32 million shares traded or 47.62% up from the average. NetApp, Inc. (NASDAQ:NTAP) has risen 14.08% since December 11, 2017 and is uptrending. It has outperformed by 14.08% the S&P500.

Smith Asset Management Group Lp, which manages about $2.91B and $3.52 billion US Long portfolio, upped its stake in Capital One Financial Corp (NYSE:COF) by 101,070 shares to 101,250 shares, valued at $9.61M in 2018Q3, according to the filing. It also increased its holding in Amazon.Com Inc (NASDAQ:AMZN) by 4,540 shares in the quarter, for a total of 55,756 shares, and has risen its stake in Progressive Corp (NYSE:PGR).

Analysts await NetApp, Inc. (NASDAQ:NTAP) to report earnings on February, 13. They expect $1.03 earnings per share, up 21.18 % or $0.18 from last year’s $0.85 per share. NTAP’s profit will be $259.44 million for 15.58 P/E if the $1.03 EPS becomes a reality. After $0.94 actual earnings per share reported by NetApp, Inc. for the previous quarter, Wall Street now forecasts 9.57 % EPS growth.

More notable recent NetApp, Inc. (NASDAQ:NTAP) news were published by: Businesswire.com which released: “NetApp Builds on Its Cloud Leadership in Global Markets – Business Wire” on December 03, 2018, also Seekingalpha.com with their article: “NetApp: Sentiment Will Be Weak For A While – Seeking Alpha” published on November 19, 2018, Benzinga.com published: “NetApp (NASDAQ:NTAP) Reports Largely Positive Q2: The Sell-Side Reacts – Benzinga” on November 15, 2018. More interesting news about NetApp, Inc. (NASDAQ:NTAP) were released by: Nasdaq.com and their article: “Quality ETFs & Stocks to Outperform Amid Volatility – Nasdaq” published on December 06, 2018 as well as Nasdaq.com‘s news article titled: “Recent Analysis Shows NetApp, Williams-Sonoma, DENTSPLY SIRONA, Applied Materials, Alleghany, and AmerisourceBergen Market Influences — Renewed Outlook, Key Drivers of Growth – Nasdaq” with publication date: December 04, 2018.

NetApp, Inc. (NASDAQ:NTAP) Ratings Coverage

Among 13 analysts covering NetApp (NASDAQ:NTAP), 7 have Buy rating, 1 Sell and 5 Hold. Therefore 54% are positive. NetApp had 15 analyst reports since June 20, 2018 according to SRatingsIntel. As per Thursday, August 16, the company rating was maintained by Deutsche Bank. BMO Capital Markets maintained NetApp, Inc. (NASDAQ:NTAP) rating on Thursday, August 16. BMO Capital Markets has “Outperform” rating and $90 target. The rating was maintained by Piper Jaffray with “Buy” on Tuesday, June 26. Maxim Group maintained NetApp, Inc. (NASDAQ:NTAP) rating on Thursday, August 16. Maxim Group has “Buy” rating and $91 target. The firm earned “Equal-Weight” rating on Thursday, August 16 by Morgan Stanley. The firm has “Buy” rating by Maxim Group given on Thursday, November 15. The firm has “Sector Perform” rating by RBC Capital Markets given on Friday, August 10. Bank of America maintained the stock with “Buy” rating in Monday, August 13 report. The firm has “Neutral” rating given on Monday, August 13 by Citigroup. Susquehanna downgraded NetApp, Inc. (NASDAQ:NTAP) on Tuesday, October 23 to “Neutral” rating.

NetApp, Inc. (NASDAQ:NTAP) Institutional Positions Chart

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