Edmp Inc. Has $876,000 Position in NetApp, Inc. (NASDAQ:NTAP)

Edmp Inc. increased its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 204.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,961 shares of the data storage provider's stock after purchasing an additional 6,688 shares during the period. Edmp Inc.'s holdings in NetApp were worth $876,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in NetApp by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock valued at $3,069,617,000 after buying an additional 429,343 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of NetApp by 14.5% in the fourth quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider's stock valued at $815,402,000 after acquiring 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 valued at $362,544,000 after acquiring an additional 529,471 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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. raised its holdings in 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 own 92.17% of the company's stock.

NetApp Trading Down 0.9%

Shares of NetApp stock traded down $0.95 during trading on Wednesday, hitting $105.18. The stock had a trading volume of 1,676,968 shares, compared to its average volume of 1,928,127. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The stock has a 50 day simple moving average of $96.69 and a 200 day simple moving average of $104.55. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $21.07 billion, a PE ratio of 18.52, a P/E/G ratio of 2.40 and a beta of 1.42.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. NetApp had a net margin of 18.05% and a return on equity of 126.96%. The firm had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same period in the previous year, the company posted $1.80 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given 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 1.98%. NetApp's payout ratio is presently 36.62%.

Insider Buying and Selling at NetApp

In related news, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $101.78, for a total transaction of $865,130.00. Following the completion of the sale, the chief executive officer now directly owns 296,805 shares in the company, valued at approximately $30,208,812.90. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 302 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total transaction of $29,828.54. Following the completion of the transaction, the chief accounting officer now owns 455 shares in the company, valued at approximately $44,940.35. This represents a 39.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,998 shares of company stock valued at $3,366,108 in the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of research reports. Wells Fargo & Company decreased their price target on NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. JPMorgan Chase & Co. decreased their target price on NetApp from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Morgan Stanley reaffirmed a "cautious" rating on shares of NetApp in a report on Tuesday, May 20th. Evercore ISI cut their price target on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen lowered shares of NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $117.79.

NetApp Profile

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.