Tower Research Capital LLC TRC grew its holdings in NetApp Inc. (NASDAQ:NTAP) by 227.3% during the fourth quarter, Holdings Channel reports. The firm owned 3,286 shares of the data storage provider’s stock after acquiring an additional 2,282 shares during the quarter. Tower Research Capital LLC TRC’s holdings in NetApp were worth $182,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of NTAP. Macquarie Group Ltd. raised its holdings in shares of NetApp by 24.0% in the second quarter. Macquarie Group Ltd. now owns 6,200 shares of the data storage provider’s stock valued at $248,000 after purchasing an additional 1,200 shares during the last quarter. Strs Ohio raised its holdings in shares of NetApp by 3.8% in the third quarter. Strs Ohio now owns 37,507 shares of the data storage provider’s stock valued at $1,641,000 after purchasing an additional 1,357 shares during the last quarter. Korea Investment CORP raised its holdings in shares of NetApp by 95.9% in the third quarter. Korea Investment CORP now owns 242,886 shares of the data storage provider’s stock valued at $10,629,000 after purchasing an additional 118,900 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of NetApp in the third quarter valued at approximately $1,179,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of NetApp in the third quarter valued at approximately $915,000. Institutional investors own 94.34% of the company’s stock.
A number of analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of NetApp from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $41.00 to $64.00 in a report on Tuesday, January 23rd. DA Davidson downgraded shares of NetApp from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $56.00 to $64.00 in a report on Tuesday, January 23rd. UBS Group boosted their target price on shares of NetApp from $62.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, January 26th. ValuEngine upgraded shares of NetApp from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $56.23.
NetApp Inc. (NASDAQ:NTAP) opened at $60.52 on Thursday. 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 52-week low of $37.43 and a 52-week high of $64.06. The company has a market cap of $16,182.53, a price-to-earnings ratio of -756.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.33.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.08. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.49 billion. NetApp had a negative net margin of 0.09% and a positive return on equity of 29.38%. During the same quarter in the previous year, the business posted $0.82 earnings per share. equities analysts predict that NetApp Inc. will post 2.91 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Friday, April 6th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.32%. NetApp’s payout ratio is presently -1,000.00%.
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.
Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp Inc. (NASDAQ:NTAP).
Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.