Kentucky Retirement Systems lessened its holdings in shares of NetApp, Inc. (NASDAQ:NTAP – Free Report) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,706 shares of the data storage provider’s stock after selling 638 shares during the quarter. Kentucky Retirement Systems’ holdings in NetApp were worth $1,473,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of NTAP. Northern Trust Corp grew its stake in NetApp by 2.1% in the third quarter. Northern Trust Corp now owns 2,299,008 shares of the data storage provider’s stock worth $174,449,000 after purchasing an additional 47,040 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of NetApp by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,808,051 shares of the data storage provider’s stock valued at $159,398,000 after acquiring an additional 24,416 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of NetApp by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,519,700 shares of the data storage provider’s stock valued at $133,978,000 after acquiring an additional 39,462 shares in the last quarter. California Public Employees Retirement System lifted its stake in NetApp by 0.5% during the fourth quarter. California Public Employees Retirement System now owns 1,270,712 shares of the data storage provider’s stock worth $112,026,000 after purchasing an additional 6,512 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in NetApp by 31.7% in the third quarter. Royal Bank of Canada now owns 1,109,662 shares of the data storage provider’s stock worth $84,202,000 after purchasing an additional 266,812 shares during the period. 92.17% of the stock is currently owned by hedge funds and other institutional investors.
NetApp Trading Up 1.6 %
NetApp stock opened at $112.28 on Tuesday. NetApp, Inc. has a 12-month low of $65.71 and a 12-month high of $112.48. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 1.11. The stock has a market capitalization of $23.17 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 2.30 and a beta of 1.27. The firm has a 50 day simple moving average of $104.35 and a 200-day simple moving average of $93.19.
NetApp (NASDAQ:NTAP – Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share (EPS) 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 firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company posted $1.02 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts expect that NetApp, Inc. will post 5.16 EPS for the current fiscal year.
NetApp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, April 4th. NetApp’s payout ratio is 45.45%.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and set a $120.00 target price (up from $105.00) on shares of NetApp in a report on Friday, March 1st. JPMorgan Chase & Co. lifted their target price on NetApp from $87.00 to $95.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. StockNews.com cut NetApp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Argus upgraded NetApp from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Monday, March 4th. Finally, Citigroup upped their price objective on NetApp from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $100.60.
Read Our Latest Stock Report on NTAP
Insider Buying and Selling at NetApp
In other NetApp news, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total value of $89,730.42. Following the transaction, the executive vice president now owns 9,601 shares in the company, valued at $989,095.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other NetApp news, CFO Michael J. Berry sold 7,500 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $102.75, for a total transaction of $770,625.00. Following the sale, the chief financial officer now owns 152,409 shares in the company, valued at approximately $15,660,024.75. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $89,730.42. Following the completion of the transaction, the executive vice president now owns 9,601 shares of the company’s stock, valued at $989,095.02. The disclosure for this sale can be found here. In the last three months, insiders sold 40,371 shares of company stock valued at $4,139,505. 0.37% of the stock is owned by insiders.
NetApp Company 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.
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