ETRADE Capital Management LLC boosted its holdings in shares of NetApp Inc. (NASDAQ:NTAP) by 20.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,888 shares of the data storage provider’s stock after buying an additional 2,997 shares during the period. ETRADE Capital Management LLC’s holdings in NetApp were worth $990,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of NTAP. Quantbot Technologies LP acquired a new position in NetApp in the 3rd quarter worth about $131,000. IFP Advisors Inc increased its position in NetApp by 45.3% in the 4th quarter. IFP Advisors Inc now owns 2,571 shares of the data storage provider’s stock worth $142,000 after purchasing an additional 801 shares during the last quarter. Tower Research Capital LLC TRC increased its position in NetApp by 227.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,286 shares of the data storage provider’s stock worth $182,000 after purchasing an additional 2,282 shares during the last quarter. FTB Advisors Inc. increased its position in NetApp by 50.2% in the 3rd quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock worth $199,000 after purchasing an additional 1,519 shares during the last quarter. Finally, Visionary Asset Management Inc. acquired a new position in NetApp in the 3rd quarter worth about $200,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.
In other NetApp news, CEO George Kurian sold 7,020 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $60.98, for a total value of $428,079.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Michael Nevens sold 20,000 shares of the company’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 value of $1,113,400.00. Following the completion of the transaction, the director now directly owns 17,000 shares of the company’s stock, valued at approximately $946,390. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,027 shares of company stock valued at $3,653,425. Insiders own 0.47% of the company’s stock.
Shares of NetApp Inc. (NASDAQ NTAP) traded up $0.26 during trading hours on Friday, reaching $63.93. The company had a trading volume of 2,631,199 shares, compared to its average volume of 3,091,902. NetApp Inc. has a 1 year low of $37.43 and a 1 year high of $65.58. The company has a market cap of $17,058.64, a P/E ratio of -799.13, a price-to-earnings-growth ratio of 2.03 and a beta of 1.29. 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 (NASDAQ:NTAP) last announced its earnings results 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 firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.49 billion. NetApp had a positive return on equity of 29.38% and a negative net margin of 0.09%. During the same quarter in the prior year, the company earned $0.82 EPS. research analysts predict that NetApp Inc. will post 2.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be issued a $0.20 dividend. The ex-dividend date is Thursday, April 5th. This represents a $0.80 annualized dividend and a yield of 1.25%. NetApp’s dividend payout ratio (DPR) is -1,000.00%.
Several brokerages have weighed in on NTAP. Deutsche Bank upped their target price on NetApp from $37.00 to $40.00 and gave the stock a “sell” rating in a research report on Thursday, February 15th. Zacks Investment Research raised NetApp from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, February 6th. Pivotal Research set a $62.00 price target on NetApp and gave the stock a “buy” rating in a research note on Thursday, February 15th. Maxim Group upped their price target on NetApp to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, TheStreet downgraded NetApp from a “b” rating to a “c+” rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $56.23.
COPYRIGHT VIOLATION NOTICE: “NetApp Inc. (NTAP) Position Raised by ETRADE Capital Management LLC” was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/03/17/etrade-capital-management-llc-boosts-position-in-netapp-inc-ntap.html.
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.
Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.