Gyroscope Capital Management Group LLC purchased a new position in NetApp Inc. (NASDAQ:NTAP) during the third quarter, Holdings Channel.com reports. The firm purchased 14,796 shares of the data storage provider’s stock, valued at approximately $761,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stephens Inc. AR acquired a new position in shares of NetApp in the second quarter worth $334,000. FMR LLC increased its stake in shares of NetApp by 24.3% in the first quarter. FMR LLC now owns 1,699,118 shares of the data storage provider’s stock worth $117,816,000 after acquiring an additional 332,665 shares during the last quarter. Capital International Ltd. CA increased its stake in shares of NetApp by 296.4% in the second quarter. Capital International Ltd. CA now owns 46,604 shares of the data storage provider’s stock worth $2,875,000 after acquiring an additional 34,847 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of NetApp by 56.2% in the second quarter. Jacobs Levy Equity Management Inc. now owns 392,582 shares of the data storage provider’s stock worth $24,222,000 after acquiring an additional 141,280 shares during the last quarter. Finally, Marshall Wace North America L.P. increased its stake in shares of NetApp by 629.5% in the first quarter. Marshall Wace North America L.P. now owns 119,994 shares of the data storage provider’s stock worth $8,321,000 after acquiring an additional 103,545 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:NTAP traded up $2.03 during midday trading on Friday, hitting $51.81. The company’s stock had a trading volume of 1,223,597 shares, compared to its average volume of 2,611,892. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.22 and a beta of 1.55. The stock’s 50 day simple moving average is $51.57 and its 200 day simple moving average is $60.33. NetApp Inc. has a fifty-two week low of $44.55 and a fifty-two week high of $83.95. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.39 and a current ratio of 1.42.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 14th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.19. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. NetApp had a return on equity of 77.11% and a net margin of 16.74%. The firm’s revenue was down 16.1% compared to the same quarter last year. During the same period last year, the business posted $1.04 earnings per share. As a group, analysts anticipate that NetApp Inc. will post 3.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Thursday, October 3rd. NetApp’s dividend payout ratio is currently 47.76%.
In other news, VP Joel D. Reich sold 3,963 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $47.29, for a total value of $187,410.27. Following the sale, the vice president now directly owns 12,249 shares of the company’s stock, valued at $579,255.21. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gerald Held sold 7,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $47.23, for a total transaction of $330,610.00. Following the completion of the sale, the director now owns 14,391 shares of the company’s stock, valued at approximately $679,686.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,963 shares of company stock worth $987,420. 0.33% of the stock is currently owned by company insiders.
A number of equities analysts have recently weighed in on NTAP shares. ValuEngine raised shares of NetApp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays reissued an “equal weight” rating and set a $48.00 target price (up from $47.00) on shares of NetApp in a research report on Thursday, August 15th. Morgan Stanley set a $41.00 target price on shares of NetApp and gave the stock a “sell” rating in a research report on Monday, September 30th. Maxim Group reissued a “buy” rating and set a $70.00 target price (up from $65.00) on shares of NetApp in a research report on Thursday, August 15th. Finally, Stifel Nicolaus lowered their target price on shares of NetApp from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $59.75.
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.
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