Cornerstone Capital Management Holdings LLC. grew its holdings in shares of NetApp Inc. (NASDAQ:NTAP) by 89.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,641 shares of the data storage provider’s stock after buying an additional 99,120 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in NetApp were worth $11,595,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. IFP Advisors Inc lifted its position in NetApp by 45.3% during the 4th quarter. IFP Advisors Inc now owns 2,571 shares of the data storage provider’s stock worth $142,000 after buying an additional 801 shares in the last quarter. Quantbot Technologies LP bought a new stake in NetApp during the 3rd quarter worth about $131,000. Tower Research Capital LLC TRC raised its holdings in shares of 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 valued at $182,000 after purchasing an additional 2,282 shares during the period. Summit Securities Group LLC bought a new stake in shares of NetApp in the 4th quarter valued at about $210,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of NetApp by 559.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,025 shares of the data storage provider’s stock valued at $223,000 after purchasing an additional 3,415 shares during the period. 94.99% of the stock is currently owned by hedge funds and other institutional investors.
NetApp Inc. (NASDAQ NTAP) opened at $63.93 on Friday. NetApp Inc. has a 52-week low of $37.43 and a 52-week high of $65.58. The stock 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 current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.71.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business posted $0.82 EPS. sell-side analysts expect that NetApp Inc. will post 2.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.25%. NetApp’s payout ratio is presently -1,000.00%.
A number of equities research analysts have recently issued reports on the stock. Deutsche Bank upped their target price on shares of NetApp from $37.00 to $40.00 and gave the company a “sell” rating in a report on Thursday, February 15th. Zacks Investment Research raised shares of NetApp from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, February 6th. Pivotal Research set a $62.00 target price on shares of NetApp and gave the company a “buy” rating in a report on Thursday, February 15th. Maxim Group upped their target price on shares of NetApp to $69.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, TheStreet cut shares of NetApp from a “b” rating to a “c+” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $56.23.
In related news, VP Joel D. Reich sold 6,500 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $55.80, for a total transaction of $362,700.00. Following the sale, the vice president now owns 3,950 shares in the company, valued at approximately $220,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Michael Nevens sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $55.67, for a total transaction of $1,113,400.00. Following the sale, the director now owns 17,000 shares in the company, valued at approximately $946,390. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,027 shares of company stock worth $3,653,425. Company insiders own 0.47% of the company’s stock.
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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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