Jefferies Group LLC acquired a new position in NetApp Inc. (NASDAQ:NTAP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 204,822 shares of the data storage provider’s stock, valued at approximately $11,331,000. Jefferies Group LLC owned approximately 0.08% of NetApp as of its most recent SEC filing.
Several other large investors have also modified their holdings of NTAP. Shellback Capital LP bought a new stake in shares of NetApp in the 4th quarter valued at about $36,817,000. Dynamic Capital Management Ltd purchased a new position in shares of NetApp in the 4th quarter worth approximately $5,083,000. JOYN Advisors Inc. purchased a new stake in NetApp during the 4th quarter worth approximately $373,000. Quantitative Investment Management LLC purchased a new stake in NetApp during the 4th quarter worth approximately $17,071,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in NetApp during the 4th quarter worth approximately $1,941,000. 94.99% of the stock is owned by institutional investors and hedge funds.
In other news, CEO George Kurian sold 7,020 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $60.98, for a total transaction of $428,079.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Joel D. Reich sold 6,500 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $55.80, for a total value of $362,700.00. Following the sale, the vice president now directly owns 3,950 shares of the company’s stock, valued at $220,410. The disclosure for this sale can be found here. In the last three months, insiders sold 63,027 shares of company stock valued at $3,653,425. Company insiders own 0.47% of the company’s stock.
Shares of NetApp Inc. (NASDAQ:NTAP) traded up $0.26 on Friday, hitting $63.93. The company’s stock had a trading volume of 2,631,199 shares, compared to its average volume of 3,305,442. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.88 and a current ratio of 1.91. The firm has a market cap of $17,294.41, a price-to-earnings ratio of -799.13, a price-to-earnings-growth ratio of 2.05 and a beta of 1.29. NetApp Inc. has a one year low of $37.43 and a one year high of $65.58.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the company posted $0.82 EPS. analysts anticipate that NetApp Inc. will post 2.91 earnings per share for the current year.
The firm also recently declared 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 of this dividend is Thursday, April 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. NetApp’s payout ratio is -1,000.00%.
NTAP has been the topic of several recent research reports. Zacks Investment Research raised shares of NetApp from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Tuesday, February 6th. Pivotal Research set a $62.00 price objective on shares of NetApp and gave the stock a “hold” rating in a research report on Wednesday, February 28th. ValuEngine raised shares of NetApp from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. DA Davidson lowered shares of NetApp from a “buy” rating to a “neutral” rating and upped their price objective for the company from $56.00 to $64.00 in a report on Tuesday, January 23rd. Finally, BMO Capital Markets raised shares of NetApp from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $43.00 to $62.00 in a research note on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $56.23.
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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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