SG Americas Securities LLC grew its position in NetApp Inc. (NASDAQ:NTAP) by 24.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,930 shares of the data storage provider’s stock after purchasing an additional 24,391 shares during the period. SG Americas Securities LLC’s holdings in NetApp were worth $6,613,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Stephens Inc. AR acquired a new position in NetApp in the 2nd quarter worth about $334,000. Capital International Ltd. CA boosted its stake in shares of NetApp by 296.4% during the 2nd 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 in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of NetApp by 56.2% during the 2nd 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 in the last quarter. Cim Investment Mangement Inc. bought a new stake in shares of NetApp during the 2nd quarter worth about $549,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of NetApp by 31.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,249 shares of the data storage provider’s stock worth $509,000 after acquiring an additional 1,985 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors.
In related news, VP Joel D. Reich sold 3,963 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $47.29, for a total transaction of $187,410.27. Following the completion of the sale, the vice president now directly owns 12,249 shares of the company’s stock, valued at approximately $579,255.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Held sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $46.94, for a total value of $469,400.00. Following the sale, the director now directly owns 17,391 shares of the company’s stock, valued at $816,333.54. The disclosure for this sale can be found here. Insiders have sold a total of 20,963 shares of company stock valued at $987,420 over the last ninety days. Insiders own 0.33% of the company’s stock.
Several analysts have recently issued reports on the company. Zacks Investment Research upgraded NetApp from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Wednesday. Barclays reiterated an “equal weight” rating and set a $48.00 price target (up previously from $47.00) on shares of NetApp in a research note on Thursday, August 15th. Credit Suisse Group reiterated an “outperform” rating and set a $60.00 price target (down previously from $62.00) on shares of NetApp in a research note on Thursday, August 15th. Goldman Sachs Group downgraded NetApp from a “buy” rating to a “sell” rating and decreased their price target for the stock from $61.00 to $45.00 in a research note on Thursday, October 10th. Finally, ValuEngine upgraded NetApp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $60.70.
NASDAQ:NTAP traded up $0.47 during mid-day trading on Friday, hitting $59.41. 1,597,600 shares of the company’s stock traded hands, compared to its average volume of 2,644,872. NetApp Inc. has a 12 month low of $44.55 and a 12 month high of $82.56. The company has a current ratio of 1.42, a quick ratio of 1.39 and a debt-to-equity ratio of 1.33. The firm has a 50 day moving average of $54.25 and a two-hundred day moving average of $57.85. The firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.42 and a beta of 1.56.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 14th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.19. NetApp had a return on equity of 77.11% and a net margin of 16.74%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the firm posted $1.04 EPS. NetApp’s quarterly revenue was down 16.1% compared to the same quarter last year. As a group, equities research analysts expect that NetApp Inc. will post 3.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were issued a dividend of $0.48 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 3.23%. NetApp’s dividend payout ratio is 47.76%.
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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