Systematic Financial Management LP cut its holdings in NetApp Inc. (NASDAQ:NTAP) by 18.1% in the fourth quarter, HoldingsChannel reports. The firm owned 574,495 shares of the data storage provider’s stock after selling 126,767 shares during the quarter. Systematic Financial Management LP’s holdings in NetApp were worth $31,781,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of NTAP. Macquarie Group Ltd. grew its holdings in shares of NetApp by 24.0% in the second quarter. Macquarie Group Ltd. now owns 6,200 shares of the data storage provider’s stock valued at $248,000 after purchasing an additional 1,200 shares in the last quarter. Toronto Dominion Bank grew its holdings 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 valued at $3,678,000 after purchasing an additional 18,613 shares in the last quarter. Shell Asset Management Co. grew its holdings in shares of NetApp by 241.0% in the third quarter. Shell Asset Management Co. now owns 54,956 shares of the data storage provider’s stock valued at $2,361,000 after purchasing an additional 38,840 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of NetApp in the third quarter valued at $367,000. Finally, Exane Derivatives grew its holdings in shares of NetApp by 59,850.0% in the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after purchasing an additional 2,394 shares in the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO George Kurian sold 7,020 shares of NetApp stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.48, for a total transaction of $417,549.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction on Friday, December 1st. The stock was sold at an average price of $55.91, for a total value of $110,478.16. Following the sale, the executive vice president now owns 11,884 shares of the company’s stock, valued at $664,434.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,342 shares of company stock valued at $3,491,981. Corporate insiders own 0.47% of the company’s stock.
A number of research analysts recently weighed in on NTAP shares. Maxim Group raised their target price on shares of NetApp from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, November 16th. Piper Jaffray Companies set a $52.00 target price on shares of NetApp and gave the company a “buy” rating in a report on Tuesday, November 14th. Barclays raised shares of NetApp from an “underweight” rating to an “overweight” rating and raised their target price for the company from $38.00 to $52.00 in a report on Thursday, November 9th. Royal Bank of Canada raised their target price on shares of NetApp from $45.00 to $50.00 and gave the company a “sector perform” rating in a report on Monday, November 13th. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $50.00 target price on shares of NetApp in a report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $56.31.
Shares of NetApp Inc. (NTAP) opened at $56.51 on Monday. The stock has a market capitalization of $15,076.40, a price-to-earnings ratio of -706.38, a P/E/G ratio of 1.74 and a beta of 1.32. NetApp Inc. has a 52-week low of $37.43 and a 52-week high of $64.06. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.91 and a quick ratio of 1.88.
NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.08. NetApp had a positive return on equity of 29.38% and a negative net margin of 0.09%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the company earned $0.82 earnings per share. analysts anticipate that NetApp Inc. will post 2.8 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Friday, April 6th will be given a dividend of $0.20 per share. 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 (DPR) is -1,000.00%.
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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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