Virtu Financial LLC purchased a new stake in shares of NetApp Inc. (NASDAQ:NTAP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 24,331 shares of the data storage provider’s stock, valued at approximately $1,346,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in NetApp by 227.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,286 shares of the data storage provider’s stock valued at $182,000 after buying an additional 2,282 shares during the period. Bank of New York Mellon Corp grew its position in NetApp by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 4,322,669 shares of the data storage provider’s stock valued at $239,131,000 after buying an additional 260,763 shares during the period. Arizona State Retirement System grew its position in NetApp by 1.1% during the fourth quarter. Arizona State Retirement System now owns 185,431 shares of the data storage provider’s stock valued at $10,258,000 after buying an additional 2,016 shares during the period. Eagle Asset Management Inc. acquired a new stake in shares of NetApp in the fourth quarter valued at about $314,000. Finally, State of Wisconsin Investment Board grew its position in shares of NetApp by 36.1% in the fourth quarter. State of Wisconsin Investment Board now owns 468,954 shares of the data storage provider’s stock valued at $25,943,000 after purchasing an additional 124,287 shares during the period. Institutional investors own 94.34% of the company’s stock.
Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of NetApp from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet lowered shares of NetApp from a “b” rating to a “c+” rating in a research report on Wednesday, February 14th. Wells Fargo & Co lifted their target price on shares of NetApp from $54.00 to $62.00 and gave the company a “market perform” rating in a research report on Thursday, February 15th. BMO Capital Markets lifted their target price on shares of NetApp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Finally, Deutsche Bank lifted their target price on shares of NetApp from $37.00 to $40.00 and gave the company a “sell” rating in a research report on Thursday, February 15th. One 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 company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $56.23.
In other news, CEO George Kurian sold 3,826 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $63.01, for a total value of $241,076.26. Following the sale, the chief executive officer now directly owns 20,637 shares of the company’s stock, valued at approximately $1,300,337.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Michael Nevens sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $55.67, for a total transaction of $1,113,400.00. Following the completion of the sale, the director now directly owns 17,000 shares in the company, valued at $946,390. The disclosure for this sale can be found here. Insiders have sold 61,342 shares of company stock worth $3,491,981 over the last ninety days. 0.47% of the stock is owned by insiders.
NetApp Inc. (NTAP) opened at $58.59 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.88 and a current ratio of 1.91. NetApp Inc. has a 52 week low of $37.43 and a 52 week high of $64.06. The company has a market cap of $15,617.99, a PE ratio of -732.38, a price-to-earnings-growth ratio of 1.86 and a beta of 1.33.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, February 14th. The data storage provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. NetApp had a negative net margin of 0.09% and a positive return on equity of 29.38%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. equities analysts predict that NetApp Inc. will post 2.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, April 5th. NetApp’s dividend payout ratio (DPR) is presently -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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