Let’s now switch our focus on NetApp Inc. (NASDAQ:NTAP), a provider of software, systems, and services that manage and store computer data. Matthew K. Fawcett, Senior Vice President, General Counsel and Secretary, reported selling his entire stake of 6,633 shares at a weighted average price of $29.49. NetApp’s stock has been on a decline for the entire year and it seems that they are looking for a bottom at the moment. Specifically, the stock has lost over 28% since the beginning of the year, amid weak financial results delivered for the last quarter. NetApp reported net revenues of $1.34 billion in the first quarter of 2016, which were down by 10% year-over-year. This decline was mainly attributable to the decrease in the company’s product revenues, which were in turn offset by higher software maintenance revenues and other services revenues. Cliff Asness’ AQR Capital Management disclosed a 3.19 million-share holding in NetApp Inc. (NASDAQ:NTAP) in the last round of 13F filings.
Lastly, let’s take a look at the insider selling activity at Riverview Bancorp Inc. (NASDAQ:RVSB). Director Gary R. Douglass unloaded 16,056 shares for $4.40 each earlier this week, reducing his stake to 33,859 shares. The director sold an additional 850 shares last week at $4.40 apiece. A little more than a month ago, James M. Chadwick, Portfolio Manager of investment firm Ancora Advisors LLC, was appointed to Riverview Bancorp’s Board of Directors. The Cleveland-based Ancora appears to be working on unlocking shareholder value at the holding company of Riverview Community Bank. The stock are 6% in the green year-to-date, thanks to this week’s surge of nearly 11%. The company’s business environment and market areas have seen great improvement over the past few years, which have definitely been assisted by the strengthening U.S. economy and improving labor market. Furthermore, the bank’s management has been carrying out cost-cutting efforts and will continue to find cost saving opportunities within its entire system of operations. Matthew Lindenbaum’s Basswood Capital is the largest shareholder of Riverview Bancorp Inc. (NASDAQ:RVSB) among the hedge funds tracked by Insider Monkey with 1.34 million shares.