Xact Kapitalforvaltning AB boosted its holdings in shares of NetApp Inc. (NASDAQ:NTAP) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,090 shares of the data storage provider’s stock after purchasing an additional 1,012 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in NetApp were worth $6,020,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Renaissance Technologies LLC lifted its position in shares of NetApp by 270.0% in the second quarter. Renaissance Technologies LLC now owns 2,332,932 shares of the data storage provider’s stock valued at $183,205,000 after acquiring an additional 1,702,432 shares in the last quarter. Palo Capital Inc. purchased a new position in shares of NetApp in the second quarter valued at approximately $4,465,000. Mount Yale Investment Advisors LLC purchased a new position in shares of NetApp in the first quarter valued at approximately $191,000. Berkshire Capital Holdings Inc. purchased a new position in shares of NetApp in the second quarter valued at approximately $7,588,000. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of NetApp by 10.9% in the second quarter. Ontario Teachers Pension Plan Board now owns 30,826 shares of the data storage provider’s stock valued at $2,421,000 after acquiring an additional 3,041 shares in the last quarter. Institutional investors own 94.61% of the company’s stock.
Shares of NetApp stock opened at $77.57 on Friday. NetApp Inc. has a one year low of $43.24 and a one year high of $88.08. The company has a market cap of $20.23 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.41 and a beta of 1.28. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.80.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 15th. The data storage provider reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.24. NetApp had a return on equity of 41.75% and a net margin of 3.68%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the business posted $0.62 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, research analysts predict that NetApp Inc. will post 3.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, October 4th. This represents a $1.60 annualized dividend and a yield of 2.06%. NetApp’s dividend payout ratio (DPR) is 53.51%.
Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded NetApp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub downgraded NetApp from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Jaffray Companies raised their target price on NetApp from $77.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, June 26th. Guggenheim assumed coverage on NetApp in a research report on Thursday, July 12th. They issued a “buy” rating and a $94.00 target price on the stock. Finally, Argus raised their target price on NetApp to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 5th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $81.38.
In other NetApp news, EVP Henri P. Richard sold 2,525 shares of the firm’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $76.99, for a total transaction of $194,399.75. Following the completion of the sale, the executive vice president now owns 65,907 shares of the company’s stock, valued at $5,074,179.93. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO George Kurian sold 6,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $78.23, for a total value of $469,380.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,016 shares of company stock valued at $9,681,524. 0.19% of the stock is owned by insiders.
NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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