Pinebridge Investments L.P. reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 15.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,989 shares of the data storage provider’s stock after selling 7,817 shares during the quarter. Pinebridge Investments L.P.’s holdings in NetApp were worth $1,925,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in NTAP. Exane Derivatives raised its stake in NetApp by 59,850.0% during the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after acquiring an additional 2,394 shares in the last quarter. First Personal Financial Services raised its stake in NetApp by 27,540.0% during the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock worth $121,000 after acquiring an additional 2,754 shares in the last quarter. Krilogy Financial LLC acquired a new stake in NetApp during the 2nd quarter worth $122,000. Quantbot Technologies LP acquired a new stake in NetApp during the 3rd quarter worth $131,000. Finally, FTB Advisors Inc. raised its stake in NetApp by 50.2% during the 3rd quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock worth $199,000 after acquiring an additional 1,519 shares in the last quarter. Hedge funds and other institutional investors own 93.92% of the company’s stock.
Shares of NetApp, Inc. (NASDAQ:NTAP) opened at $57.21 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. NetApp, Inc. has a 52 week low of $34.72 and a 52 week high of $58.11. The company has a market cap of $14,977.69, a PE ratio of 21.10, a P/E/G ratio of 1.82 and a beta of 1.28.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.12. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. research analysts forecast that NetApp, Inc. will post 2.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s payout ratio is currently 34.33%.
NTAP has been the topic of several research analyst reports. Maxim Group lifted their price target on shares of NetApp from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, November 16th. Morgan Stanley reiterated an “underweight” rating on shares of NetApp in a research note on Saturday, September 23rd. Piper Jaffray Companies set a $52.00 price target on shares of NetApp and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Barclays upgraded shares of NetApp from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $38.00 to $52.00 in a research note on Thursday, November 9th. Finally, DA Davidson reissued a “buy” rating and set a $51.00 price objective on shares of NetApp in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $49.04.
In other NetApp news, CEO George Kurian sold 75,000 shares of NetApp stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $52.50, for a total transaction of $3,937,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.01, for a total transaction of $83,011.76. Following the transaction, the executive vice president now owns 17,812 shares of the company’s stock, valued at approximately $748,282.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 187,036 shares of company stock valued at $9,316,158. 0.47% of the stock is currently owned by company insiders.
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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