111 Capital acquired a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,095 shares of the data storage provider's stock, valued at approximately $475,000.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of NetApp by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock worth $3,069,617,000 after purchasing an additional 429,343 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of NetApp by 14.5% during the fourth quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider's stock worth $815,402,000 after purchasing an additional 888,671 shares in the last quarter. Invesco Ltd. increased its stake in shares of NetApp by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider's stock worth $362,544,000 after purchasing an additional 529,471 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NetApp by 8.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,986,330 shares of the data storage provider's stock worth $346,653,000 after purchasing an additional 220,393 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. increased its stake in shares of NetApp by 0.4% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider's stock worth $335,215,000 after purchasing an additional 12,919 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the stock. Wells Fargo & Company cut their target price on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a research note on Friday. Wedbush reaffirmed a "neutral" rating and set a $110.00 price objective on shares of NetApp in a research note on Friday. UBS Group dropped their price objective on shares of NetApp from $115.00 to $108.00 and set a "neutral" rating for the company in a research note on Friday. Loop Capital dropped their price objective on shares of NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of NetApp from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, NetApp has a consensus rating of "Hold" and a consensus price target of $119.27.
Check Out Our Latest Analysis on NTAP
Insiders Place Their Bets
In other NetApp news, President Cesar Cernuda sold 19,696 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the sale, the president now directly owns 11,928 shares in the company, valued at $1,075,309.20. This represents a 62.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $81.83, for a total transaction of $695,555.00. Following the sale, the chief executive officer now owns 249,765 shares in the company, valued at approximately $20,438,269.95. This trade represents a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,724 shares of company stock worth $2,520,032 in the last ninety days. 0.47% of the stock is owned by corporate insiders.
NetApp Trading Up 5.0%
Shares of NTAP stock traded up $4.89 during trading hours on Tuesday, hitting $103.66. The company had a trading volume of 2,701,739 shares, compared to its average volume of 1,920,773. The company's fifty day moving average is $90.56 and its 200 day moving average is $106.79. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The stock has a market capitalization of $21.09 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40.
NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the business posted $1.80 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.
NetApp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 2.01%. NetApp's dividend payout ratio (DPR) is presently 36.62%.
NetApp Company Profile
(
Free Report)
NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.
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