Trexquant Investment LP Buys New Position in NetApp, Inc. (NTAP)

Trexquant Investment LP bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,736 shares of the data storage provider’s stock, valued at approximately $339,000.

A number of other large investors have also recently made changes to their positions in NTAP. Toronto Dominion Bank increased its stake in shares of NetApp by 25.4% in the second quarter. Toronto Dominion Bank now owns 91,841 shares of the data storage provider’s stock worth $3,678,000 after acquiring an additional 18,613 shares during the last quarter. Personal Capital Advisors Corp acquired a new position in shares of NetApp in the third quarter worth $269,000. GHP Investment Advisors Inc. increased its stake in shares of NetApp by 18.1% in the third quarter. GHP Investment Advisors Inc. now owns 46,379 shares of the data storage provider’s stock worth $2,030,000 after acquiring an additional 7,123 shares during the last quarter. Aberdeen Asset Management PLC UK increased its stake in shares of NetApp by 13.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 547,294 shares of the data storage provider’s stock worth $21,918,000 after acquiring an additional 64,722 shares during the last quarter. Finally, CIBC World Markets Inc. increased its stake in shares of NetApp by 393.8% in the second quarter. CIBC World Markets Inc. now owns 29,634 shares of the data storage provider’s stock worth $1,187,000 after acquiring an additional 23,633 shares during the last quarter. 93.92% of the stock is currently owned by institutional investors.

Shares of NetApp, Inc. (NASDAQ:NTAP) opened at $55.93 on Tuesday. The stock has a market cap of $15,049.73, a price-to-earnings ratio of 21.21, a P/E/G ratio of 1.83 and a beta of 1.28. NetApp, Inc. has a fifty-two week low of $34.72 and a fifty-two week high of $58.11. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company posted $0.60 earnings per share. NetApp’s revenue for the quarter was up 6.1% on a year-over-year basis. analysts anticipate that NetApp, Inc. will post 2.72 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a 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, CEO George Kurian sold 75,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $52.50, for a total transaction of $3,937,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard P. Wallace sold 34,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 24,132 shares of the company’s stock, valued at $1,050,465.96. The disclosure for this sale can be found here. Insiders have sold 185,060 shares of company stock valued at $9,205,680 over the last 90 days. Corporate insiders own 0.47% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. Barclays reaffirmed an “overweight” rating and issued a $56.00 price target (up from $52.00) on shares of NetApp in a research note on Thursday, November 16th. Credit Suisse Group upped their price target on shares of NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Longbow Research raised shares of NetApp from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, August 15th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $60.00 price target on shares of NetApp in a research note on Thursday, November 16th. Finally, BidaskClub downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the company. NetApp presently has a consensus rating of “Hold” and a consensus target price of $49.04.

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NetApp Company Profile

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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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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