Canada Pension Plan Investment Board grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP – Get Rating) by 301.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,550 shares of the data storage provider’s stock after buying an additional 96,540 shares during the period. Canada Pension Plan Investment Board owned 0.06% of NetApp worth $7,951,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Ten Capital Wealth Advisors LLC bought a new stake in shares of NetApp during the 3rd quarter valued at $27,000. First Horizon Advisors Inc. boosted its holdings in shares of NetApp by 237.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 482 shares of the data storage provider’s stock valued at $31,000 after buying an additional 339 shares in the last quarter. Ronald Blue Trust Inc. raised its position in shares of NetApp by 183.5% in the 3rd quarter. Ronald Blue Trust Inc. now owns 550 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 356 shares during the last quarter. Gradient Investments LLC raised its position in shares of NetApp by 57.3% in the 3rd quarter. Gradient Investments LLC now owns 629 shares of the data storage provider’s stock worth $39,000 after purchasing an additional 229 shares during the last quarter. Finally, Ameliora Wealth Management Ltd. purchased a new position in shares of NetApp in the 3rd quarter worth about $73,000. Institutional investors own 87.92% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. Cowen lowered their price target on NetApp from $93.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, November 30th. Cowen lowered their price target on NetApp from $93.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, November 30th. Raymond James lowered their price target on NetApp from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday. StockNews.com lowered NetApp from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, UBS Group decreased their target price on NetApp from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $76.35.
Insiders Place Their Bets
In other NetApp news, CEO George Kurian sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $65.87, for a total value of $296,415.00. Following the completion of the transaction, the chief executive officer now directly owns 150,226 shares in the company, valued at approximately $9,895,386.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NetApp news, CEO George Kurian sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $65.87, for a total value of $296,415.00. Following the completion of the transaction, the chief executive officer now directly owns 150,226 shares in the company, valued at approximately $9,895,386.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carrie Palin sold 2,707 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $64.30, for a total value of $174,060.10. The disclosure for this sale can be found here. Insiders sold 16,207 shares of company stock worth $1,045,305 in the last three months. 0.26% of the stock is owned by company insiders.
NetApp Trading Down 1.3 %
Shares of NASDAQ:NTAP opened at $65.38 on Friday. The stock has a 50 day moving average of $64.32 and a 200 day moving average of $67.24. The company has a market cap of $14.09 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18. The company has a current ratio of 1.34, a quick ratio of 1.28 and a debt-to-equity ratio of 2.17. NetApp, Inc. has a 12-month low of $58.08 and a 12-month high of $90.20.
NetApp (NASDAQ:NTAP – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The data storage provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.06. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.61 billion. NetApp had a return on equity of 103.19% and a net margin of 19.93%. The firm’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 EPS. As a group, equities research analysts expect that NetApp, Inc. will post 4.37 EPS for the current year.
NetApp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Thursday, April 6th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, April 5th. This represents a $2.00 annualized dividend and a yield of 3.06%. NetApp’s payout ratio is 34.42%.
NetApp Profile
NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Volumes ONTAP, NetApp Cloud Sync, NetApp Cloud Secure, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Kubernetes Service, and NetApp Cloud Insights.
See Also
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