Candriam Luxembourg S.C.A. reduced its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 46.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,314 shares of the data storage provider’s stock after selling 71,247 shares during the period. Candriam Luxembourg S.C.A.’s holdings in NetApp were worth $3,257,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in NTAP. Bank of Montreal Can raised its stake in NetApp by 22.3% in the first quarter. Bank of Montreal Can now owns 178,969 shares of the data storage provider’s stock valued at $7,491,000 after buying an additional 32,658 shares in the last quarter. First Quadrant L P CA raised its stake in NetApp by 41.3% in the first quarter. First Quadrant L P CA now owns 393,084 shares of the data storage provider’s stock valued at $16,451,000 after buying an additional 114,881 shares in the last quarter. BTIM Corp. raised its stake in NetApp by 4.5% in the second quarter. BTIM Corp. now owns 118,219 shares of the data storage provider’s stock valued at $4,735,000 after buying an additional 5,099 shares in the last quarter. Swiss National Bank raised its stake in NetApp by 26.7% in the first quarter. Swiss National Bank now owns 987,238 shares of the data storage provider’s stock valued at $41,316,000 after buying an additional 208,200 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in NetApp by 12.7% in the first quarter. First Trust Advisors LP now owns 1,085,042 shares of the data storage provider’s stock valued at $45,409,000 after buying an additional 122,097 shares in the last quarter. 90.10% of the stock is currently owned by institutional investors.
Shares of NetApp, Inc. (NASDAQ:NTAP) traded down 0.53% during mid-day trading on Friday, hitting $39.35. The company’s stock had a trading volume of 4,957,257 shares. NetApp, Inc. has a 1-year low of $30.36 and a 1-year high of $45.24. The company has a market cap of $10.62 billion, a price-to-earnings ratio of 19.00 and a beta of 1.21. The company has a 50-day moving average of $42.09 and a 200 day moving average of $40.72.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.55 by $0.07. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts expect that NetApp, Inc. will post $3.13 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, October 5th. NetApp’s payout ratio is 38.65%.
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NTAP has been the topic of several research reports. Citigroup Inc. upped their price target on NetApp from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday. Stifel Nicolaus restated a “hold” rating and set a $37.00 price objective on shares of NetApp in a research note on Friday, May 26th. Susquehanna Bancshares Inc restated a “positive” rating and set a $50.00 price objective (up from $48.00) on shares of NetApp in a research note on Wednesday. Drexel Hamilton restated a “buy” rating and set a $62.00 price objective on shares of NetApp in a research note on Wednesday, May 24th. Finally, Zacks Investment Research upgraded NetApp from a “sell” rating to a “hold” rating in a research note on Monday, May 8th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have assigned a buy rating to the stock. NetApp currently has a consensus rating of “Hold” and a consensus price target of $43.69.
In other news, Director Jeffry R. Allen sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $40.46, for a total value of $809,200.00. Following the transaction, the director now owns 8,500 shares of the company’s stock, valued at $343,910. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George Kurian sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $43.67, for a total value of $174,680.00. Following the completion of the sale, the chief executive officer now owns 27,598 shares of the company’s stock, valued at $1,205,204.66. The disclosure for this sale can be found here. Insiders sold 117,518 shares of company stock worth $4,726,762 in the last ninety days. 0.47% of the stock is owned by company insiders.
NetApp Company Profile
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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