Candriam Luxembourg S.C.A. lowered its stake in NetApp, Inc. (NASDAQ:NTAP) by 61.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,188 shares of the data storage provider’s stock after selling 50,126 shares during the period. Candriam Luxembourg S.C.A.’s holdings in NetApp were worth $1,365,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Exane Derivatives boosted its position in shares of NetApp by 59,850.0% during the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after purchasing an additional 2,394 shares in the last quarter. First Personal Financial Services boosted its position in shares of NetApp by 27,540.0% during the third quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock worth $121,000 after purchasing an additional 2,754 shares in the last quarter. Krilogy Financial LLC bought a new position in shares of NetApp during the second quarter worth $122,000. Pillar Pacific Capital Management LLC bought a new position in shares of NetApp during the third quarter worth $206,000. Finally, Raymond James Trust N.A. bought a new position in shares of NetApp during the third quarter worth $208,000. 93.92% of the stock is owned by institutional investors and hedge funds.
Shares of NetApp, Inc. (NTAP) opened at $55.93 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. The company has a market cap of $14,920.00, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 1.83 and a beta of 1.29. NetApp, Inc. has a twelve month low of $34.72 and a twelve month high of $58.11.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the company posted $0.60 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. equities analysts predict that NetApp, Inc. will post 2.72 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is 34.33%.
In other NetApp news, VP Joel D. Reich sold 3,371 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $53.17, for a total value of $179,236.07. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 75,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $52.50, for a total transaction of $3,937,500.00. The disclosure for this sale can be found here. Insiders sold 185,060 shares of company stock worth $9,205,680 over the last ninety days. Insiders own 0.47% of the company’s stock.
NTAP has been the topic of a number of recent analyst reports. Credit Suisse Group lifted their price target on shares of NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 9th. BidaskClub cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Robert W. Baird set a $44.00 price target on shares of NetApp and gave the stock a “hold” rating in a research report on Monday, August 14th. Maxim Group upgraded shares of NetApp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $56.00 in a research note on Monday, August 14th. Finally, Piper Jaffray Companies set a $50.00 price objective on shares of 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, nineteen have issued a hold rating and fourteen have given a buy rating to the stock. NetApp has an average rating of “Hold” and a consensus target price of $49.04.
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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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