New York State Common Retirement Fund boosted its position in NetApp Inc. (NASDAQ:NTAP) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 656,170 shares of the data storage provider’s stock after buying an additional 10,000 shares during the quarter. New York State Common Retirement Fund owned approximately 0.24% of NetApp worth $28,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of NTAP. Exane Derivatives boosted its stake in NetApp by 59,850.0% in the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after buying an additional 2,394 shares in the last quarter. First Personal Financial Services boosted its stake in shares of NetApp by 27,540.0% during the third quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock valued at $121,000 after purchasing an additional 2,754 shares during the period. Krilogy Financial LLC purchased a new stake in shares of NetApp during the second quarter valued at approximately $122,000. Pillar Pacific Capital Management LLC purchased a new stake in shares of NetApp during the third quarter valued at approximately $206,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of NetApp by 3.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,189 shares of the data storage provider’s stock valued at $208,000 after purchasing an additional 185 shares during the period. 94.71% of the stock is owned by institutional investors and hedge funds.
In other NetApp news, VP Joel D. Reich sold 3,371 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $53.17, for a total value of $179,236.07. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $44.62, for a total value of $88,169.12. Following the transaction, the executive vice president now directly owns 13,860 shares in the company, valued at $618,433.20. The disclosure for this sale can be found here. Insiders have sold 164,084 shares of company stock valued at $8,521,250 over the last 90 days. Corporate insiders own 0.47% of the company’s stock.
Shares of NetApp Inc. (NTAP) traded up $0.25 during trading hours on Tuesday, hitting $55.57. The stock had a trading volume of 1,386,100 shares, compared to its average volume of 1,340,500. NetApp Inc. has a 1 year low of $35.08 and a 1 year high of $58.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64. The company has a market capitalization of $14,758.92, a P/E ratio of 23.85, a PEG ratio of 1.79 and a beta of 1.29.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the company earned $0.60 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. analysts expect that NetApp Inc. will post 2.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, January 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. NetApp’s payout ratio is presently 34.33%.
A number of brokerages recently commented on NTAP. Royal Bank of Canada reaffirmed a “hold” rating and issued a $60.00 price target on shares of NetApp in a research note on Monday, December 11th. ValuEngine lowered NetApp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. BMO Capital Markets raised NetApp from a “market perform” rating to an “outperform” rating in a research note on Sunday, November 26th. UBS Group reaffirmed a “buy” rating and issued a $62.00 price target (up previously from $52.00) on shares of NetApp in a research note on Wednesday, November 22nd. Finally, Argus raised their price target on NetApp from $46.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.15.
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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