U S Global Investors Inc. decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 40.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,897 shares of the data storage provider’s stock after selling 5,303 shares during the quarter. U S Global Investors Inc.’s holdings in NetApp were worth $316,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. CAPROCK Group Inc. lifted its stake in NetApp by 0.8% during the second quarter. CAPROCK Group Inc. now owns 5,278 shares of the data storage provider’s stock worth $211,000 after purchasing an additional 44 shares during the last quarter. Contravisory Investment Management Inc. lifted its stake in NetApp by 0.6% during the second quarter. Contravisory Investment Management Inc. now owns 7,059 shares of the data storage provider’s stock worth $283,000 after purchasing an additional 45 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in NetApp by 0.7% during the second quarter. Neuberger Berman Group LLC now owns 8,201 shares of the data storage provider’s stock worth $328,000 after purchasing an additional 58 shares during the last quarter. Breton Hill Capital Ltd. lifted its stake in NetApp by 0.3% during the second quarter. Breton Hill Capital Ltd. now owns 17,290 shares of the data storage provider’s stock worth $692,000 after purchasing an additional 59 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in NetApp by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider’s stock worth $673,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.
NetApp, Inc. (NTAP) traded up 0.21% during mid-day trading on Monday, reaching $43.72. The company’s stock had a trading volume of 275,582 shares. The firm’s 50 day moving average price is $41.60 and its 200 day moving average price is $40.84. The firm has a market capitalization of $11.79 billion, a P/E ratio of 21.11 and a beta of 1.26. NetApp, Inc. has a 52 week low of $30.36 and a 52 week high of $45.24.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company posted $0.46 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts anticipate that NetApp, Inc. will post $3.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, October 5th. NetApp’s dividend payout ratio is presently 38.65%.
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Several equities research analysts recently weighed in on the company. BidaskClub cut NetApp from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Credit Suisse Group boosted their target price on NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Citigroup Inc. boosted their target price on NetApp from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. Susquehanna Bancshares Inc restated a “positive” rating and set a $50.00 target price (up previously from $48.00) on shares of NetApp in a research note on Wednesday, August 16th. Finally, Piper Jaffray Companies set a $50.00 target price on NetApp and gave the stock a “buy” rating in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and thirteen have given a buy rating to the company. NetApp presently has an average rating of “Hold” and an average target price of $45.12.
In other news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $42.01, for a total transaction of $83,011.76. Following the transaction, the executive vice president now owns 17,812 shares in the company, valued at approximately $748,282.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO George Kurian sold 4,000 shares of NetApp stock in a transaction on Monday, July 31st. The stock was sold at an average price of $43.67, for a total transaction of $174,680.00. Following the transaction, the chief executive officer now owns 27,598 shares in the company, valued at approximately $1,205,204.66. The disclosure for this sale can be found here. Insiders have sold a total of 48,498 shares of company stock worth $2,083,785 in the last quarter. Corporate insiders own 0.47% of the company’s stock.
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.
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