Several other hedge funds also recently bought and sold shares of NTAP. Exane Derivatives grew its stake in NetApp by 59,850.0% in the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after buying an additional 2,394 shares during the last quarter. First Personal Financial Services grew its stake in NetApp by 27,540.0% in the 3rd 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. Krilogy Financial LLC acquired a new position in NetApp in the 2nd quarter valued at $122,000. Quantbot Technologies LP acquired a new position in NetApp in the 3rd quarter valued at $131,000. Finally, FTB Advisors Inc. grew its stake in NetApp by 50.2% in the 3rd 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 own 94.71% of the company’s stock.
In related news, VP Joel D. Reich sold 15,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $56.99, for a total transaction of $854,850.00. Following the completion of the sale, the vice president now owns 441 shares of the company’s stock, valued at $25,132.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $695,042.04. The disclosure for this sale can be found here. Insiders sold 200,060 shares of company stock worth $10,087,997 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.
Shares of NetApp Inc. (NASDAQ NTAP) traded down $0.44 on Tuesday, reaching $55.86. 874,272 shares of the company were exchanged, compared to its average volume of 2,973,689. NetApp Inc. has a fifty-two week low of $35.08 and a fifty-two week high of $58.99. The firm has a market capitalization of $14,930.00, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 1.82 and a beta of 1.29. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.64 and a current ratio of 1.67.
NetApp (NASDAQ:NTAP) last released 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 firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. analysts predict that NetApp Inc. will post 2.72 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. NetApp’s dividend payout ratio (DPR) is presently 34.33%.
A number of analysts have weighed in on NTAP shares. Deutsche Bank increased their price target on shares of NetApp from $27.00 to $37.00 and gave the company a “sell” rating in a report on Thursday, November 16th. Royal Bank of Canada increased their price target on shares of NetApp from $45.00 to $50.00 and gave the company a “sector perform” rating in a report on Monday, November 13th. Morgan Stanley reissued an “underweight” rating on shares of NetApp in a report on Saturday, September 23rd. BMO Capital Markets raised shares of NetApp from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $43.00 to $62.00 in a report on Thursday, November 16th. Finally, ValuEngine downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $49.39.
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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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