Macquarie Group Ltd. boosted its position in shares of NetApp Inc. (NASDAQ:NTAP) by 221.7% during the second quarter, Holdings Channel reports. The firm owned 19,300 shares of the data storage provider’s stock after buying an additional 13,300 shares during the period. Macquarie Group Ltd.’s holdings in NetApp were worth $475,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Chevy Chase Trust Holdings Inc. boosted its position in NetApp by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 244,195 shares of the data storage provider’s stock valued at $6,664,000 after buying an additional 7,743 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in NetApp by 12.2% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 67,798 shares of the data storage provider’s stock worth $1,850,000 after buying an additional 7,390 shares in the last quarter. Aperio Group LLC raised its stake in NetApp by 36.0% in the first quarter. Aperio Group LLC now owns 82,609 shares of the data storage provider’s stock worth $2,254,000 after buying an additional 21,863 shares in the last quarter. Pacad Investment Ltd. raised its stake in NetApp by 1.2% in the first quarter. Pacad Investment Ltd. now owns 84,849 shares of the data storage provider’s stock worth $2,316,000 after buying an additional 987 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in NetApp during the first quarter worth approximately $1,113,000. Institutional investors own 89.54% of the company’s stock.
NetApp Inc. (NASDAQ:NTAP) opened at 35.34 on Wednesday. The stock’s 50 day moving average is $33.68 and its 200-day moving average is $27.31. NetApp Inc. has a one year low of $20.66 and a one year high of $36.10. The firm has a market capitalization of $9.85 billion, a PE ratio of 31.81 and a beta of 1.56.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 17th. The data storage provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.10. NetApp had a net margin of 5.87% and a return on equity of 15.82%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm posted $0.29 EPS. NetApp’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts anticipate that NetApp Inc. will post $2.36 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Friday, October 7th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.15%. The ex-dividend date is Wednesday, October 5th. NetApp’s dividend payout ratio (DPR) is 68.47%.
A number of analysts have commented on the stock. Piper Jaffray Cos. lifted their target price on shares of NetApp from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, August 18th. RBC Capital Markets lifted their target price on shares of NetApp to $32.00 in a report on Thursday, August 18th. Summit Redstone lifted their target price on shares of NetApp from $20.00 to $30.00 and gave the stock a “sell” rating in a report on Thursday, August 18th. Zacks Investment Research raised shares of NetApp from a “sell” rating to a “hold” rating and set a $40.00 target price for the company in a report on Friday, August 19th. Finally, Drexel Hamilton reaffirmed a “hold” rating on shares of NetApp in a report on Wednesday, August 17th. Eleven investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $29.09.
In other news, VP Joel D. Reich sold 2,241 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $24.35, for a total transaction of $54,568.35. Following the sale, the vice president now owns 489 shares of the company’s stock, valued at approximately $11,907.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffry R. Allen sold 15,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $34.82, for a total transaction of $522,300.00. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $522,300. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.
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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