Zurcher Kantonalbank Zurich Cantonalbank decreased its position in NetApp, Inc. (NASDAQ:NTAP) by 33.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 144,027 shares of the data storage provider’s stock after selling 72,618 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of NetApp worth $6,303,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank grew its holdings in NetApp by 25.4% in the second quarter. Toronto Dominion Bank now owns 91,841 shares of the data storage provider’s stock valued at $3,678,000 after purchasing an additional 18,613 shares during the last quarter. Personal Capital Advisors Corp acquired a new stake in shares of NetApp during the third quarter valued at $269,000. GHP Investment Advisors Inc. boosted its stake in shares of NetApp by 18.1% during the third quarter. GHP Investment Advisors Inc. now owns 46,379 shares of the data storage provider’s stock valued at $2,030,000 after acquiring an additional 7,123 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its stake in shares of NetApp by 13.4% during the second quarter. Aberdeen Asset Management PLC UK now owns 547,294 shares of the data storage provider’s stock valued at $21,918,000 after acquiring an additional 64,722 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its stake in shares of NetApp by 393.8% during the second quarter. CIBC World Markets Inc. now owns 29,634 shares of the data storage provider’s stock valued at $1,187,000 after acquiring an additional 23,633 shares during the last quarter. 97.27% of the stock is currently owned by institutional investors.
NTAP has been the topic of a number of analyst reports. Citigroup Inc. increased their price objective on NetApp from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. ValuEngine raised NetApp from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $50.00 price objective (up previously from $48.00) on shares of NetApp in a research note on Wednesday, August 16th. DA Davidson increased their price objective on NetApp from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, BMO Capital Markets raised NetApp from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $43.00 to $62.00 in a research note on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $49.04.
Shares of NetApp, Inc. (NTAP) opened at $56.41 on Monday. The company has a market capitalization of $15,220.00, a PE ratio of 21.21, a P/E/G ratio of 1.83 and a beta of 1.16. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55. NetApp, Inc. has a twelve month low of $34.72 and a twelve month high of $56.55.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. research analysts predict that NetApp, Inc. will post 2.72 earnings per share for the current year.
The business 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 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 1.42%. NetApp’s payout ratio is currently 34.33%.
In related news, CEO George Kurian sold 4,570 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $37.98, for a total transaction of $173,568.60. Following the sale, the chief executive officer now directly owns 23,028 shares in the company, valued at approximately $874,603.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Henri P. Richard sold 1,976 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $42.01, for a total value of $83,011.76. Following the sale, the executive vice president now owns 17,812 shares in the company, valued at $748,282.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,630 shares of company stock worth $9,379,249. Company insiders own 0.47% of the company’s stock.
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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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