Eaton Vance Management grew its position in shares of NetApp Inc. (NASDAQ:NTAP) by 5.4% in the fourth quarter, Holdings Channel reports. The fund owned 589,805 shares of the data storage provider’s stock after acquiring an additional 30,000 shares during the period. Eaton Vance Management’s holdings in NetApp were worth $32,628,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its stake in shares of NetApp by 24.0% during the 2nd quarter. Macquarie Group Ltd. now owns 6,200 shares of the data storage provider’s stock worth $248,000 after purchasing an additional 1,200 shares in the last quarter. Strs Ohio raised its stake in shares of NetApp by 3.8% during the 3rd quarter. Strs Ohio now owns 37,507 shares of the data storage provider’s stock worth $1,641,000 after purchasing an additional 1,357 shares in the last quarter. Personal Capital Advisors Corp bought a new stake in shares of NetApp during the 3rd quarter worth approximately $269,000. Raymond James Trust N.A. bought a new stake in shares of NetApp during the 3rd quarter worth approximately $208,000. Finally, First Trust Advisors LP raised its stake in shares of NetApp by 27.3% during the 3rd quarter. First Trust Advisors LP now owns 1,379,561 shares of the data storage provider’s stock worth $60,370,000 after purchasing an additional 296,089 shares in the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.
NetApp Inc. (NTAP) opened at $59.62 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.71. NetApp Inc. has a 1-year low of $37.43 and a 1-year high of $64.06. The company has a market capitalization of $16,190.00, a price-to-earnings ratio of -745.25, a price-to-earnings-growth ratio of 1.86 and a beta of 1.33.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, February 14th. The data storage provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. NetApp had a positive return on equity of 29.38% and a negative net margin of 0.09%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm posted $0.82 EPS. equities research analysts predict that NetApp Inc. will post 2.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Thursday, April 5th. NetApp’s dividend payout ratio is -1,000.00%.
In other NetApp news, CEO George Kurian sold 7,020 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $55.83, for a total value of $391,926.60. Following the transaction, the chief executive officer now directly owns 31,483 shares of the company’s stock, valued at approximately $1,757,695.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Joel D. Reich sold 15,000 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $56.99, for a total value of $854,850.00. Following the completion of the transaction, the vice president now directly owns 441 shares in the company, valued at $25,132.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,342 shares of company stock worth $3,491,981. Insiders own 0.47% of the company’s stock.
A number of equities research analysts have recently issued reports on NTAP shares. Zacks Investment Research upgraded NetApp from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, February 6th. ValuEngine upgraded NetApp from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. DA Davidson cut NetApp from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $56.00 to $64.00 in a research note on Tuesday, January 23rd. BMO Capital Markets upgraded NetApp from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $43.00 to $62.00 in a research note on Thursday, November 16th. Finally, Loop Capital upgraded NetApp from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $56.23.
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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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