Capital International Investors decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,235,442 shares of the data storage provider’s stock after selling 558,502 shares during the period. Capital International Investors owned approximately 1.94% of NetApp worth $229,103,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in NTAP. Janney Montgomery Scott LLC lifted its position in NetApp by 14.5% in the second quarter. Janney Montgomery Scott LLC now owns 23,399 shares of the data storage provider’s stock valued at $937,000 after purchasing an additional 2,971 shares during the period. Global X Management Co. LLC lifted its position in NetApp by 15.8% in the second quarter. Global X Management Co. LLC now owns 9,195 shares of the data storage provider’s stock valued at $368,000 after purchasing an additional 1,253 shares during the period. Arizona State Retirement System lifted its position in NetApp by 0.3% in the second quarter. Arizona State Retirement System now owns 67,237 shares of the data storage provider’s stock valued at $2,693,000 after purchasing an additional 200 shares during the period. DekaBank Deutsche Girozentrale lifted its position in NetApp by 30.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 50,468 shares of the data storage provider’s stock valued at $2,094,000 after purchasing an additional 11,836 shares during the period. Finally, Rhumbline Advisers lifted its position in NetApp by 6.4% in the second quarter. Rhumbline Advisers now owns 558,809 shares of the data storage provider’s stock valued at $22,380,000 after purchasing an additional 33,789 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.
NetApp, Inc. (NTAP) opened at $58.26 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64. NetApp, Inc. has a 1-year low of $35.08 and a 1-year high of $58.63. The stock has a market cap of $15,543.29, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.89 and a beta of 1.28.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share 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 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 EPS. The company’s revenue was up 6.1% on a year-over-year basis. equities research analysts anticipate that NetApp, Inc. will post 2.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, January 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.37%. NetApp’s dividend payout ratio (DPR) is 34.33%.
In other news, CEO George Kurian sold 75,000 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George T. Shaheen sold 36,916 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $53.10, for a total transaction of $1,960,239.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 187,036 shares of company stock valued at $9,316,158. Corporate insiders own 0.47% of the company’s stock.
NTAP has been the subject of a number of recent analyst reports. Deutsche Bank raised their price objective on shares of NetApp from $27.00 to $37.00 and gave the company a “sell” rating in a research report on Thursday, November 16th. Royal Bank Of Canada raised their price objective on shares of NetApp from $45.00 to $50.00 and gave the company a “sector perform” rating in a research report on Monday, November 13th. Morgan Stanley restated an “underweight” rating on shares of NetApp in a research report on Saturday, September 23rd. BMO Capital Markets upgraded shares of NetApp from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $43.00 to $62.00 in a research report on Thursday, November 16th. Finally, ValuEngine downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two equities 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 company. The company has a consensus rating of “Hold” and an average 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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