Voya Investment Management LLC raised its holdings in NetApp, Inc. (NASDAQ:NTAP) by 21.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 232,505 shares of the data storage provider’s stock after acquiring an additional 41,579 shares during the quarter. Voya Investment Management LLC owned 0.09% of NetApp worth $9,312,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in NetApp by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 27,214,474 shares of the data storage provider’s stock valued at $1,089,939,000 after acquiring an additional 481,365 shares during the last quarter. BlackRock Inc. lifted its holdings in NetApp by 7.5% in the 2nd quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock valued at $867,006,000 after acquiring an additional 1,517,967 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in NetApp by 781.1% in the 2nd quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock valued at $133,750,000 after acquiring an additional 2,960,542 shares during the last quarter. FMR LLC lifted its holdings in NetApp by 89.2% in the 2nd quarter. FMR LLC now owns 3,044,302 shares of the data storage provider’s stock valued at $121,924,000 after acquiring an additional 1,435,588 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in NetApp by 5.7% in the 1st quarter. Geode Capital Management LLC now owns 3,042,360 shares of the data storage provider’s stock valued at $127,165,000 after acquiring an additional 164,120 shares during the last quarter. 92.08% of the stock is owned by institutional investors.
A number of brokerages have weighed in on NTAP. Credit Suisse Group upped their price target on shares of NetApp from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. Longbow Research raised shares of NetApp from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, August 15th. Barclays PLC upped their price target on shares of NetApp from $35.00 to $38.00 and gave the company an “underweight” rating in a report on Thursday, August 17th. BidaskClub downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $62.00 price target (up from $60.00) on shares of NetApp in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and thirteen have assigned a buy rating to the stock. NetApp presently has an average rating of “Hold” and a consensus target price of $45.12.
Shares of NetApp, Inc. (NASDAQ:NTAP) opened at 44.43 on Friday. The firm’s 50-day moving average price is $40.83 and its 200-day moving average price is $40.75. NetApp, Inc. has a 12 month low of $30.36 and a 12 month high of $45.24. The company has a market cap of $11.99 billion, a PE ratio of 21.45 and a beta of 1.26.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.07. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm earned $0.46 EPS. NetApp’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts predict that NetApp, Inc. will post $3.12 EPS for the current fiscal year.
The company also recently announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Thursday, October 5th. NetApp’s dividend payout ratio is presently 38.65%.
In other NetApp news, EVP Henri P. Richard sold 3,952 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $42.20, for a total transaction of $166,774.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Henri P. Richard sold 1,976 shares of the business’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 value of $86,726.64. Following the transaction, 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 three months, insiders sold 52,450 shares of company stock worth $2,250,560. 0.47% of the stock is owned by 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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