DnB Asset Management AS boosted its stake in NetApp Inc. (NASDAQ:NTAP) by 3.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 31,397 shares of the data storage provider’s stock after acquiring an additional 1,000 shares during the quarter. DnB Asset Management AS’s holdings in NetApp were worth $1,737,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in NTAP. Exane Derivatives boosted its stake in NetApp by 59,850.0% during 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 boosted its stake in NetApp by 27,540.0% during 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 acquired a new stake in NetApp during the 2nd quarter worth $122,000. Quantbot Technologies LP acquired a new stake in NetApp during the 3rd quarter worth $131,000. Finally, FTB Advisors Inc. boosted its stake in NetApp by 50.2% during 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. 94.71% of the stock is currently owned by hedge funds and other institutional investors.
NTAP has been the topic of several recent research reports. Maxim Group lifted their target price on shares of NetApp from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, November 16th. Morgan Stanley reaffirmed an “underweight” rating on shares of NetApp in a research note on Saturday, September 23rd. Piper Jaffray Companies set a $52.00 target price on shares of NetApp and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Barclays raised shares of NetApp from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $38.00 to $52.00 in a research note on Thursday, November 9th. Finally, Royal Bank of Canada lifted their target price on shares of NetApp from $45.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the stock. NetApp currently has an average rating of “Hold” and an average target price of $50.15.
In related news, SVP Matthew K. Fawcett sold 29,845 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $46.60, for a total value of $1,390,777.00. Following the sale, the senior vice president now directly owns 31,962 shares in the company, valued at approximately $1,489,429.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $44.62, for a total transaction of $88,169.12. Following the completion of the sale, the executive vice president now owns 13,860 shares in the company, valued at $618,433.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 197,604 shares of company stock worth $10,389,277. 0.47% of the stock is owned by insiders.
NetApp Inc. (NTAP) opened at $62.77 on Monday. NetApp Inc. has a fifty-two week low of $35.41 and a fifty-two week high of $62.80. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $16,746.53, a price-to-earnings ratio of 26.94, a PEG ratio of 2.00 and a beta of 1.29.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS. research analysts expect that NetApp Inc. will post 2.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.80 annualized dividend and a yield of 1.27%. NetApp’s dividend payout ratio (DPR) is currently 34.33%.
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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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