Amica Mutual Insurance Co. trimmed its holdings in shares of NetApp Inc. (NASDAQ:NTAP) by 33.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,981 shares of the data storage provider’s stock after selling 6,128 shares during the quarter. Amica Mutual Insurance Co.’s holdings in NetApp were worth $663,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in NTAP. Boston Partners purchased a new stake in shares of NetApp during the third quarter worth about $315,629,000. Bank of New York Mellon Corp increased its position in shares of NetApp by 25.2% during the third quarter. Bank of New York Mellon Corp now owns 4,061,906 shares of the data storage provider’s stock worth $177,748,000 after acquiring an additional 817,147 shares during the last quarter. Oakview Capital Management L.P. purchased a new stake in shares of NetApp during the third quarter worth about $24,533,000. PGGM Investments increased its position in shares of NetApp by 268.0% during the fourth quarter. PGGM Investments now owns 452,900 shares of the data storage provider’s stock worth $25,054,000 after acquiring an additional 329,816 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of NetApp by 265.5% during the fourth quarter. Acadian Asset Management LLC now owns 453,818 shares of the data storage provider’s stock worth $25,102,000 after acquiring an additional 329,668 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.
NetApp Inc. (NASDAQ:NTAP) opened at $59.62 on Friday. The company has a market capitalization of $15,697.59, a P/E ratio of -745.25, a PEG ratio of 1.86 and a beta of 1.33. NetApp Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $64.06. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.71.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, February 14th. The data storage provider reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.08. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.49 billion. NetApp had a positive return on equity of 29.38% and a negative net margin of 0.09%. During the same period in the prior year, the company earned $0.82 earnings per share. sell-side analysts predict that NetApp Inc. will post 2.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Friday, April 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, April 5th. NetApp’s dividend payout ratio (DPR) is presently -1,000.00%.
A number of analysts have recently issued reports on NTAP shares. UBS Group lifted their target price on NetApp from $62.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Morgan Stanley raised NetApp from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $41.00 to $64.00 in a research report on Tuesday, January 23rd. Deutsche Bank lifted their target price on NetApp from $27.00 to $37.00 and gave the stock a “sell” rating in a research report on Thursday, November 16th. Royal Bank of Canada lifted their target price on NetApp from $45.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Monday, November 13th. Finally, BMO Capital Markets raised NetApp from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $43.00 to $62.00 in a research report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $56.23.
In other news, CEO George Kurian sold 3,826 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $63.01, for a total transaction of $241,076.26. Following the completion of the transaction, the chief executive officer now directly owns 20,637 shares of the company’s stock, valued at $1,300,337.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $55.91, for a total value of $110,478.16. Following the transaction, the executive vice president now directly owns 11,884 shares of the company’s stock, valued at $664,434.44. The disclosure for this sale can be found here. Insiders have sold 61,342 shares of company stock valued at $3,491,981 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.
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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