Caisse DE Depot ET Placement DU Quebec Has $68.17 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Caisse DE Depot ET Placement DU Quebec raised its stake in NetApp, Inc. (NASDAQ:NTAP) by 0.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 551,912 shares of the data storage provider’s stock after buying an additional 185 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in NetApp were worth $68,167,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. AQR Capital Management LLC increased its holdings in NetApp by 59.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock worth $211,637,000 after purchasing an additional 613,583 shares in the last quarter. TCW Group Inc. bought a new position in shares of NetApp in the 2nd quarter valued at about $56,313,000. Acadian Asset Management LLC increased its stake in shares of NetApp by 17.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock worth $359,517,000 after purchasing an additional 416,233 shares during the last quarter. APG Asset Management US Inc. bought a new stake in shares of NetApp in the 2nd quarter valued at about $48,074,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in NetApp by 38.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,232,852 shares of the data storage provider’s stock worth $152,270,000 after purchasing an additional 342,415 shares during the period. Institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

NetApp stock opened at $122.64 on Friday. The firm has a market cap of $24.93 billion, a P/E ratio of 22.54, a P/E/G ratio of 2.94 and a beta of 1.24. NetApp, Inc. has a one year low of $83.62 and a one year high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The stock’s 50 day moving average is $122.37 and its 200 day moving average is $123.15.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. As a group, research analysts expect that NetApp, Inc. will post 5.83 EPS for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.70%. NetApp’s dividend payout ratio is currently 38.24%.

Insider Activity

In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares in the company, valued at approximately $1,475,782.80. The trade was a 5.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,049 shares of company stock worth $2,807,851 in the last three months. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NTAP. Stifel Nicolaus lifted their target price on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Wedbush restated a “neutral” rating and issued a $120.00 price target on shares of NetApp in a research note on Friday, November 22nd. UBS Group increased their price objective on NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Loop Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating and upped their price target for the company from $121.00 to $150.00 in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $137.40.

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.