Lingohr & Partner Asset Management GmbH lifted its stake in NetApp, Inc. (NASDAQ:NTAP) by 60.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,401 shares of the data storage provider’s stock after purchasing an additional 10,736 shares during the period. Lingohr & Partner Asset Management GmbH’s holdings in NetApp were worth $1,236,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of NetApp by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,214,474 shares of the data storage provider’s stock worth $1,089,939,000 after purchasing an additional 481,365 shares during the last quarter. BlackRock Inc. grew its holdings in NetApp by 7.5% during the 2nd quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock worth $867,006,000 after acquiring an additional 1,517,967 shares in the last quarter. Boston Partners bought a new position in NetApp during the 3rd quarter worth about $315,629,000. Renaissance Technologies LLC grew its holdings in NetApp by 781.1% during the 2nd quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock worth $133,750,000 after acquiring an additional 2,960,542 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in NetApp by 22.9% during the 3rd quarter. APG Asset Management N.V. now owns 3,046,414 shares of the data storage provider’s stock worth $133,311,000 after acquiring an additional 567,300 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.
Shares of NetApp, Inc. (NTAP) traded up $0.04 during midday trading on Friday, hitting $46.34. 1,649,200 shares of the stock were exchanged, compared to its average volume of 2,279,208. The firm has a market cap of $12,500.59, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. NetApp, Inc. has a twelve month low of $33.26 and a twelve month high of $47.20. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.27.
NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.07. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The firm 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 earned $0.46 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. equities analysts forecast that NetApp, Inc. will post 2.49 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Friday, October 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.73%. NetApp’s dividend payout ratio is currently 38.65%.
Several research analysts have issued reports on NTAP shares. BidaskClub upgraded shares of NetApp from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Credit Suisse Group increased their target price on shares of NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. Robert W. Baird set a $44.00 target price on shares of NetApp and gave the stock a “hold” rating in a report on Monday, August 14th. Maxim Group upgraded shares of NetApp from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $56.00 in a report on Monday, August 14th. Finally, Piper Jaffray Companies set a $50.00 target price on shares of NetApp and gave the stock a “buy” rating in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, twenty-one have given a hold rating and fourteen have given a buy rating to the company’s stock. NetApp currently has an average rating of “Hold” and a consensus target price of $45.65.
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In related news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $44.62, for a total value of $88,169.12. Following the sale, the executive vice president now owns 13,860 shares of the company’s stock, valued at approximately $618,433.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard P. Wallace sold 34,000 shares of NetApp stock in a transaction on Friday, September 29th. The shares were sold at an average price of $43.53, for a total transaction of $1,480,020.00. Following the completion of the sale, the director now directly owns 24,132 shares in the company, valued at approximately $1,050,465.96. The disclosure for this sale can be found here. Insiders sold a total of 44,498 shares of company stock worth $1,911,496 in the last three months. 0.47% of the stock is owned by corporate insiders.
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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