Quadrature Capital Ltd bought a new position in NetApp Inc. (NASDAQ:NTAP) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,289 shares of the data storage provider’s stock, valued at approximately $901,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of NetApp by 45.3% in the 4th quarter. IFP Advisors Inc now owns 2,571 shares of the data storage provider’s stock worth $142,000 after buying an additional 801 shares during the last quarter. First Personal Financial Services boosted its stake in shares of NetApp by 27,540.0% in the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock worth $121,000 after buying an additional 2,754 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of NetApp in the 3rd quarter worth approximately $131,000. Tower Research Capital LLC TRC boosted its stake in shares of NetApp by 227.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,286 shares of the data storage provider’s stock worth $182,000 after buying an additional 2,282 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of NetApp in the 4th quarter worth approximately $210,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.
A number of brokerages have recently weighed in on NTAP. Deutsche Bank boosted their target price on NetApp from $37.00 to $40.00 and gave the stock a “sell” rating in a research note on Thursday, February 15th. Zacks Investment Research upgraded NetApp from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Tuesday, February 6th. Pivotal Research set a $62.00 target price on NetApp and gave the stock a “buy” rating in a research note on Thursday, February 15th. DA Davidson boosted their target price on NetApp from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Finally, Loop Capital boosted their target price on NetApp from $41.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, November 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have given a buy rating to the company. NetApp presently has a consensus rating of “Buy” and a consensus price target of $56.23.
Shares of NetApp Inc. (NASDAQ:NTAP) opened at $60.40 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.71. NetApp Inc. has a 1-year low of $37.43 and a 1-year high of $64.06. The stock has a market cap of $16,185.21, a price-to-earnings ratio of -755.00, a price-to-earnings-growth ratio of 1.92 and a beta of 1.33.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. NetApp had a negative net margin of 0.09% and a positive return on equity of 29.38%. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. equities research analysts forecast that NetApp Inc. will post 2.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.32%. NetApp’s payout ratio is -1,000.00%.
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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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