Asset Management One Co. Ltd. cut its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 439,669 shares of the data storage provider’s stock after selling 38,719 shares during the quarter. Asset Management One Co. Ltd. owned about 0.16% of NetApp worth $19,242,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NTAP. Global X Management Co. LLC lifted its position in NetApp by 15.8% during the second quarter. Global X Management Co. LLC now owns 9,195 shares of the data storage provider’s stock worth $368,000 after buying an additional 1,253 shares during the period. Arizona State Retirement System lifted its position in NetApp by 0.3% during the second quarter. Arizona State Retirement System now owns 67,237 shares of the data storage provider’s stock worth $2,693,000 after buying an additional 200 shares during the period. DekaBank Deutsche Girozentrale lifted its position in NetApp by 30.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 50,468 shares of the data storage provider’s stock worth $2,094,000 after buying an additional 11,836 shares during the period. Rhumbline Advisers lifted its position in NetApp by 6.4% during the second quarter. Rhumbline Advisers now owns 558,809 shares of the data storage provider’s stock worth $22,380,000 after buying an additional 33,789 shares during the period. Finally, Pitcairn Co. purchased a new position in NetApp during the second quarter worth about $211,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.
Several research firms recently weighed in on NTAP. Citigroup increased their target price on NetApp from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Susquehanna Bancshares restated a “positive” rating and set a $50.00 price target (up from $48.00) on shares of NetApp in a research note on Wednesday, August 16th. Drexel Hamilton restated a “buy” rating and set a $62.00 price target (up from $60.00) on shares of NetApp in a research note on Friday, August 18th. FBN Securities restated an “outperform” rating on shares of NetApp in a research note on Sunday, August 20th. Finally, Raymond James Financial restated a “market perform” rating on shares of NetApp in a research note on Sunday, August 20th. 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 currently has an average rating of “Hold” and an average price target of $49.39.
In related news, Director Richard P. Wallace sold 34,000 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $43.53, for a total value of $1,480,020.00. Following the completion of the transaction, the director now owns 24,132 shares of the company’s stock, valued at $1,050,465.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joel D. Reich sold 15,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $56.99, for a total value of $854,850.00. Following the completion of the transaction, the vice president now directly owns 441 shares of the company’s stock, valued at approximately $25,132.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,036 shares of company stock valued at $10,171,008. Insiders own 0.47% of the company’s stock.
Shares of NetApp, Inc. (NASDAQ NTAP) opened at $57.80 on Wednesday. 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, Inc. has a 12 month low of $35.08 and a 12 month high of $58.99. The stock has a market capitalization of $15,543.29, a PE ratio of 21.90, a PEG ratio of 1.89 and a beta of 1.28.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. analysts expect that NetApp, Inc. will post 2.72 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be paid a $0.20 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.38%. NetApp’s dividend payout ratio (DPR) is currently 34.33%.
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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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