Pictet Asset Management Ltd. increased its holdings in shares of NetApp Inc. (NASDAQ:NTAP) by 65.3% during the third quarter, Holdings Channel reports. The fund owned 189,848 shares of the data storage provider’s stock after acquiring an additional 75,027 shares during the quarter. Pictet Asset Management Ltd.’s holdings in NetApp were worth $9,969,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Stephens Inc. AR bought a new stake in NetApp in the 2nd quarter valued at $334,000. Capital International Ltd. CA boosted its stake in NetApp by 296.4% in the 2nd quarter. Capital International Ltd. CA now owns 46,604 shares of the data storage provider’s stock valued at $2,875,000 after purchasing an additional 34,847 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in NetApp by 56.2% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 392,582 shares of the data storage provider’s stock valued at $24,222,000 after purchasing an additional 141,280 shares during the period. Cim Investment Mangement Inc. bought a new stake in NetApp in the 2nd quarter valued at $549,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in NetApp by 31.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,249 shares of the data storage provider’s stock valued at $509,000 after purchasing an additional 1,985 shares during the period. 99.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of NTAP stock opened at $59.42 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 2.14. NetApp Inc. has a twelve month low of $44.55 and a twelve month high of $78.35. The company has a market cap of $13.83 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.37 and a beta of 1.59. The business has a fifty day simple moving average of $58.19 and a 200 day simple moving average of $56.67.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, November 13th. The data storage provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.15. NetApp had a return on equity of 95.04% and a net margin of 17.20%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the company earned $1.06 EPS. NetApp’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities research analysts anticipate that NetApp Inc. will post 3.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Friday, January 3rd will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.92 annualized dividend and a dividend yield of 3.23%. NetApp’s dividend payout ratio is currently 47.76%.
NTAP has been the subject of several recent research reports. Loop Capital boosted their price target on NetApp to $70.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Argus boosted their price target on NetApp from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Maxim Group boosted their price target on NetApp from $66.00 to $74.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Lake Street Capital boosted their price target on NetApp from $49.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Finally, ValuEngine upgraded NetApp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $62.85.
NetApp Company Profile
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.
Featured Story: Bollinger Bands
Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp Inc. (NASDAQ:NTAP).
Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.