Alaska Permanent Fund Corp Grows Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Alaska Permanent Fund Corp grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,476 shares of the data storage provider’s stock after purchasing an additional 462 shares during the quarter. Alaska Permanent Fund Corp’s holdings in NetApp were worth $5,772,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wedge Capital Management L L P NC purchased a new stake in NetApp in the 4th quarter worth approximately $74,257,000. Qube Research & Technologies Ltd increased its holdings in NetApp by 689.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 804,237 shares of the data storage provider’s stock worth $61,026,000 after acquiring an additional 702,391 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in NetApp by 10,320.5% in the 3rd quarter. Panagora Asset Management Inc. now owns 577,504 shares of the data storage provider’s stock worth $43,821,000 after acquiring an additional 571,962 shares in the last quarter. Royal Bank of Canada increased its holdings in NetApp by 31.7% in the 3rd quarter. Royal Bank of Canada now owns 1,109,662 shares of the data storage provider’s stock worth $84,202,000 after acquiring an additional 266,812 shares in the last quarter. Finally, Ariel Investments LLC increased its holdings in NetApp by 25.0% in the 3rd quarter. Ariel Investments LLC now owns 899,155 shares of the data storage provider’s stock worth $68,228,000 after acquiring an additional 179,684 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Down 0.5 %

Shares of NetApp stock traded down $0.46 during trading on Thursday, hitting $99.60. 82,872 shares of the stock traded hands, compared to its average volume of 1,848,830. The firm has a market cap of $20.56 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 2.19 and a beta of 1.28. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 2.00. NetApp, Inc. has a 52-week low of $60.92 and a 52-week high of $112.48. The stock’s fifty day simple moving average is $99.63 and its 200 day simple moving average is $89.01.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.25. NetApp had a return on equity of 109.49% and a net margin of 15.21%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts predict that NetApp, Inc. will post 5.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Friday, April 5th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, April 4th. NetApp’s payout ratio is currently 45.45%.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 871 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total transaction of $89,730.42. Following the sale, the executive vice president now owns 9,601 shares of the company’s stock, valued at $989,095.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other NetApp news, CFO Michael J. Berry sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $102.75, for a total value of $770,625.00. Following the completion of the sale, the chief financial officer now owns 152,409 shares of the company’s stock, valued at $15,660,024.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 871 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total value of $89,730.42. Following the completion of the sale, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at approximately $989,095.02. The disclosure for this sale can be found here. Insiders have sold a total of 40,371 shares of company stock valued at $4,139,505 over the last quarter. 0.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NTAP has been the subject of several recent analyst reports. Wedbush upped their price target on NetApp from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. StockNews.com downgraded NetApp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Raymond James restated a “market perform” rating on shares of NetApp in a research note on Tuesday, January 16th. Stifel Nicolaus restated a “buy” rating and issued a $120.00 price target (up from $105.00) on shares of NetApp in a research note on Friday, March 1st. Finally, Evercore ISI upped their price target on NetApp from $95.00 to $105.00 and gave the stock an “in-line” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, NetApp has an average rating of “Hold” and a consensus target price of $100.60.

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.