BTIM Corp. increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 4.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 118,219 shares of the data storage provider’s stock after buying an additional 5,099 shares during the period. BTIM Corp.’s holdings in NetApp were worth $4,735,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of NTAP. Bank of Montreal Can boosted its stake in NetApp by 22.3% in the first quarter. Bank of Montreal Can now owns 178,969 shares of the data storage provider’s stock valued at $7,491,000 after buying an additional 32,658 shares during the period. First Quadrant L P CA boosted its position in NetApp by 41.3% in the first quarter. First Quadrant L P CA now owns 393,084 shares of the data storage provider’s stock worth $16,451,000 after buying an additional 114,881 shares during the last quarter. Swiss National Bank boosted its position in NetApp by 26.7% in the first quarter. Swiss National Bank now owns 987,238 shares of the data storage provider’s stock worth $41,316,000 after buying an additional 208,200 shares during the last quarter. First Trust Advisors LP boosted its position in NetApp by 12.7% in the first quarter. First Trust Advisors LP now owns 1,085,042 shares of the data storage provider’s stock worth $45,409,000 after buying an additional 122,097 shares during the last quarter. Finally, Hancock Holding Co. purchased a new position in NetApp during the first quarter worth approximately $1,446,000. Institutional investors own 90.10% of the company’s stock.
Shares of NetApp, Inc. (NASDAQ NTAP) traded down 0.53% during mid-day trading on Friday, hitting $39.35. The company had a trading volume of 4,957,257 shares. NetApp, Inc. has a 52-week low of $30.36 and a 52-week high of $45.24. The firm has a 50-day moving average price of $42.09 and a 200 day moving average price of $40.72. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 19.00 and a beta of 1.21.
NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. NetApp had a net margin of 10.47% and a return on equity of 24.16%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company earned $0.46 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that NetApp, Inc. will post $3.13 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 6th will be given a $0.20 dividend. The ex-dividend date is Thursday, October 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.03%. NetApp’s dividend payout ratio (DPR) is presently 38.65%.
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A number of research analysts have recently commented on the company. Citigroup Inc. raised their target price on NetApp from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley raised their price objective on NetApp from $35.00 to $38.00 and gave the company an “underweight” rating in a research report on Thursday. Barclays PLC raised their price objective on NetApp from $35.00 to $38.00 and gave the company an “underweight” rating in a research report on Thursday. Lake Street Capital raised their price objective on NetApp from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $37.00 price objective on shares of NetApp in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $43.26.
In related news, CEO George Kurian sold 4,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $40.12, for a total value of $160,480.00. Following the completion of the sale, the chief executive officer now directly owns 65,123 shares of the company’s stock, valued at $2,612,734.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joel D. Reich sold 9,031 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $39.81, for a total transaction of $359,524.11. Following the completion of the sale, the vice president now directly owns 10,902 shares of the company’s stock, valued at $434,008.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,518 shares of company stock valued at $4,726,762. 0.47% of the stock is owned by corporate insiders.
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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