Other institutional investors and hedge funds have also made changes to their positions in the company. Exane Derivatives grew its holdings 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 purchasing an additional 2,394 shares during the period. First Personal Financial Services grew its holdings 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 buying an additional 2,754 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of NetApp during the third quarter valued at approximately $131,000. Krilogy Financial LLC purchased a new stake in shares of NetApp during the second quarter valued at approximately $122,000. Finally, FTB Advisors Inc. grew its holdings in shares of NetApp by 50.2% during the third quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock valued at $199,000 after buying an additional 1,519 shares during the last quarter. Institutional investors and hedge funds own 94.71% of the company’s stock.
NetApp Inc. (NASDAQ:NTAP) opened at $55.86 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. NetApp Inc. has a 12 month low of $35.08 and a 12 month high of $58.99. The company has a market cap of $14,930.00, a P/E ratio of 23.97, a PEG ratio of 1.82 and a beta of 1.29.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.12. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. sell-side analysts expect that NetApp Inc. will post 2.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.80 annualized dividend and a yield of 1.43%. NetApp’s dividend payout ratio (DPR) is 34.33%.
In other NetApp news, CEO George Kurian sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $52.50, for a total transaction of $3,937,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Henri P. Richard sold 1,976 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $43.89, for a total transaction of $86,726.64. Following the sale, the executive vice president now directly owns 15,836 shares in the company, valued at approximately $695,042.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,060 shares of company stock worth $10,087,997. 0.47% of the stock is owned by corporate insiders.
Several research firms have recently commented on NTAP. Royal Bank of Canada reaffirmed a “hold” rating and issued a $60.00 price objective on shares of NetApp in a report on Monday, December 11th. BMO Capital Markets raised shares of NetApp from a “market perform” rating to an “outperform” rating in a report on Sunday, November 26th. ValuEngine downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Friday, December 1st. UBS Group reaffirmed a “buy” rating and issued a $62.00 price objective (up from $52.00) on shares of NetApp in a report on Wednesday, November 22nd. Finally, Argus upped their price objective on shares of NetApp from $46.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the company. NetApp currently has a consensus rating of “Hold” and a consensus target price of $49.39.
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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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