SG Americas Securities LLC boosted its holdings in NetApp Inc. (NASDAQ:NTAP) by 24.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 125,930 shares of the data storage provider’s stock after buying an additional 24,391 shares during the period. SG Americas Securities LLC owned 0.05% of NetApp worth $6,613,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of NTAP. Amundi Pioneer Asset Management Inc. boosted its stake in NetApp by 87.8% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 3,221,610 shares of the data storage provider’s stock worth $878,488,000 after buying an additional 1,505,804 shares during the last quarter. Invesco Ltd. boosted its stake in NetApp by 18.3% in the 2nd quarter. Invesco Ltd. now owns 6,050,117 shares of the data storage provider’s stock worth $373,291,000 after buying an additional 937,586 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in NetApp by 357.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 992,896 shares of the data storage provider’s stock worth $61,261,000 after buying an additional 775,940 shares during the last quarter. First Trust Advisors LP boosted its stake in NetApp by 29.5% in the 3rd quarter. First Trust Advisors LP now owns 2,502,468 shares of the data storage provider’s stock worth $131,405,000 after buying an additional 570,720 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in NetApp by 3,765.7% in the 2nd quarter. Marshall Wace LLP now owns 471,698 shares of the data storage provider’s stock worth $29,103,000 after buying an additional 459,496 shares during the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.
NetApp stock traded up $0.47 during midday trading on Friday, hitting $59.41. 1,597,600 shares of the company were exchanged, compared to its average volume of 2,644,872. NetApp Inc. has a fifty-two week low of $44.55 and a fifty-two week high of $82.56. The company has a market cap of $14.16 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.42 and a beta of 1.56. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.42 and a quick ratio of 1.39. The company’s fifty day moving average price is $54.25 and its 200-day moving average price is $57.85.
NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 14th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.19. NetApp had a return on equity of 77.11% and a net margin of 16.74%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm posted $1.04 EPS. The business’s revenue for the quarter was down 16.1% compared to the same quarter last year. On average, analysts expect that NetApp Inc. will post 3.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were given a dividend of $0.48 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 3.23%. NetApp’s dividend payout ratio (DPR) is presently 47.76%.
In other NetApp news, Director Gerald Held sold 7,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $47.23, for a total transaction of $330,610.00. Following the completion of the transaction, the director now owns 14,391 shares in the company, valued at approximately $679,686.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joel D. Reich sold 3,963 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $47.29, for a total value of $187,410.27. Following the transaction, the vice president now owns 12,249 shares of the company’s stock, valued at approximately $579,255.21. The disclosure for this sale can be found here. Insiders have sold a total of 20,963 shares of company stock valued at $987,420 in the last quarter. 0.33% of the stock is currently owned by insiders.
A number of brokerages have issued reports on NTAP. Summit Insights lowered NetApp from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Longbow Research lowered NetApp from a “buy” rating to a “neutral” rating in a research note on Monday, July 29th. Maxim Group reaffirmed a “buy” rating and issued a $70.00 price objective (up from $65.00) on shares of NetApp in a research note on Thursday, August 15th. Zacks Investment Research raised NetApp from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Wednesday. Finally, Susquehanna Bancshares raised NetApp from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $54.00 to $75.00 in a research note on Monday, September 9th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $60.70.
NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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