Nisa Investment Advisors LLC Has $2.66 Million Stock Position in NetApp Inc. (NASDAQ:NTAP)

Nisa Investment Advisors LLC lowered its stake in NetApp Inc. (NASDAQ:NTAP) by 8.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,032 shares of the data storage provider’s stock after selling 5,600 shares during the quarter. Nisa Investment Advisors LLC’s holdings in NetApp were worth $2,664,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position in shares of NetApp by 87.5% in the first quarter. Meeder Asset Management Inc. now owns 662 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 309 shares during the last quarter. Hoey Investments Inc. increased its position in shares of NetApp by 125.0% in the second quarter. Hoey Investments Inc. now owns 900 shares of the data storage provider’s stock valued at $40,000 after acquiring an additional 500 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of NetApp in the first quarter valued at about $50,000. Signaturefd LLC increased its position in shares of NetApp by 58.0% in the first quarter. Signaturefd LLC now owns 1,876 shares of the data storage provider’s stock valued at $78,000 after acquiring an additional 689 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in NetApp by 61.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,699 shares of the data storage provider’s stock worth $102,000 after purchasing an additional 647 shares during the period. 90.12% of the stock is currently owned by institutional investors and hedge funds.

Shares of NTAP stock opened at $44.30 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.14 and a debt-to-equity ratio of 4.74. The stock has a market cap of $9.48 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30. The stock has a 50 day simple moving average of $43.48 and a 200 day simple moving average of $46.28. NetApp Inc. has a 1 year low of $34.66 and a 1 year high of $65.38.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, May 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.15. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.37 billion. NetApp had a return on equity of 168.65% and a net margin of 15.13%. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 earnings per share. Analysts forecast that NetApp Inc. will post 2.68 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Thursday, July 9th. NetApp’s dividend payout ratio (DPR) is currently 54.39%.

A number of equities analysts recently commented on the company. Cfra reduced their price target on NetApp from $60.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, May 28th. Barclays lifted their price target on NetApp from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Zacks Investment Research cut NetApp from a “hold” rating to a “sell” rating and set a $47.00 price target for the company. in a report on Wednesday, May 27th. William Blair reiterated a “hold” rating on shares of NetApp in a report on Thursday, June 4th. Finally, Deutsche Bank assumed coverage on NetApp in a report on Thursday, June 18th. They set a “hold” rating and a $43.00 price target for the company. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $50.89.

NetApp 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.

Further Reading: How to calculate the intrinsic value of a stock

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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