Clifford Swan Investment Counsel LLC reduced its stake in NetApp Inc. (NASDAQ:NTAP) by 8.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,405 shares of the data storage provider’s stock after selling 7,730 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in NetApp were worth $4,946,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Afam Capital Inc. boosted its stake in shares of NetApp by 6.3% in the 4th quarter. Afam Capital Inc. now owns 20,216 shares of the data storage provider’s stock valued at $1,118,000 after purchasing an additional 1,207 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of NetApp in the 4th quarter valued at approximately $1,346,000. Tower Research Capital LLC TRC boosted its position in NetApp by 227.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,286 shares of the data storage provider’s stock worth $182,000 after buying an additional 2,282 shares during the period. Bank of New York Mellon Corp boosted its position in NetApp by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 4,322,669 shares of the data storage provider’s stock worth $239,131,000 after buying an additional 260,763 shares during the period. Finally, Arizona State Retirement System boosted its position in NetApp by 1.1% during the 4th quarter. Arizona State Retirement System now owns 185,431 shares of the data storage provider’s stock worth $10,258,000 after buying an additional 2,016 shares during the period. Institutional investors own 96.67% of the company’s stock.
Several research firms recently commented on NTAP. DA Davidson upgraded shares of NetApp from a “neutral” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Thursday. Citigroup lifted their target price on shares of NetApp from $53.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. BMO Capital Markets lifted their target price on shares of NetApp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday. Loop Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, February 13th. Finally, Deutsche Bank lifted their target price on shares of NetApp from $37.00 to $40.00 and gave the stock a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seventeen have given a buy rating to the stock. NetApp has an average rating of “Buy” and a consensus price target of $56.31.
NetApp Inc. (NTAP) opened at $56.51 on Friday. The stock has a market cap of $14,770.00, a P/E ratio of -706.38, a PEG ratio of 1.84 and a beta of 1.33. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.91 and a quick ratio of 1.64. NetApp Inc. has a 1 year low of $37.43 and a 1 year high of $64.06.
NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.08. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.49 billion. NetApp had a negative net margin of 0.09% and a positive return on equity of 29.38%. During the same quarter in the previous year, the business posted $0.82 EPS. equities research analysts forecast that NetApp Inc. will post 2.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Friday, April 6th will be paid a $0.20 dividend. The ex-dividend date is Thursday, April 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. NetApp’s dividend payout ratio is currently -1,000.00%.
In other news, CEO George Kurian sold 75,000 shares of NetApp stock in a transaction on Monday, November 20th. The shares were sold at an average price of $52.50, for a total value of $3,937,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction on Friday, December 1st. The shares were sold at an average price of $55.91, for a total transaction of $110,478.16. Following the completion of the sale, the executive vice president now owns 11,884 shares of the company’s stock, valued at approximately $664,434.44. The disclosure for this sale can be found here. Insiders sold a total of 136,342 shares of company stock valued at $7,429,481 in the last quarter. 0.47% of the stock is currently owned by company insiders.
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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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