U S Global Investors Inc. raised its stake in NetApp, Inc. (NASDAQ:NTAP) by 52.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 12,000 shares of the data storage provider’s stock after purchasing an additional 4,103 shares during the period. U S Global Investors Inc.’s holdings in NetApp were worth $525,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exane Derivatives increased its position in shares of NetApp by 59,850.0% in the 3rd 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 last quarter. First Personal Financial Services increased its position in shares of 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 worth $121,000 after purchasing an additional 2,754 shares during the last quarter. Krilogy Financial LLC bought a new stake in shares of NetApp in the 2nd quarter worth about $122,000. Quantbot Technologies LP bought a new stake in shares of NetApp in the 3rd quarter worth about $131,000. Finally, FTB Advisors Inc. increased its position in shares of NetApp by 50.2% in the 3rd quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock worth $199,000 after purchasing an additional 1,519 shares during the last quarter. 94.97% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on the stock. BMO Capital Markets raised shares of NetApp from a “market perform” rating to an “outperform” rating in a research report on Sunday, November 26th. ValuEngine downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. UBS reaffirmed a “buy” rating and set a $62.00 price objective (up previously from $52.00) on shares of NetApp in a research report on Wednesday, November 22nd. Argus boosted their price objective on shares of NetApp from $46.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 17th. Finally, Royal Bank Of Canada boosted their price objective on shares of NetApp from $45.00 to $50.00 and gave the company a “sector perform” rating in a research report on Monday, November 13th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. NetApp currently has a consensus rating of “Hold” and an average target price of $49.04.
In other NetApp news, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $55.91, for a total transaction of $110,478.16. Following the completion of the transaction, the executive vice president now directly owns 11,884 shares of the company’s stock, valued at approximately $664,434.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Kurian sold 75,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $52.50, for a total transaction of $3,937,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 187,036 shares of company stock valued at $9,316,158 over the last three months. 0.47% of the stock is currently owned by company insiders.
NetApp, Inc. (NTAP) opened at $58.26 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.64 and a current ratio of 1.67. The stock has a market cap of $15,543.29, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.89 and a beta of 1.28. NetApp, Inc. has a one year low of $35.08 and a one year high of $58.63.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. NetApp had a net margin of 11.49% and a return on equity of 26.77%. NetApp’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS. equities research analysts predict that NetApp, Inc. will post 2.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, January 4th. NetApp’s payout ratio is 34.33%.
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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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