Nisa Investment Advisors LLC lessened its holdings in NetApp Inc. (NASDAQ:NTAP) by 8.5% during the second quarter, HoldingsChannel reports. The fund owned 60,032 shares of the data storage provider’s stock after selling 5,600 shares during the quarter. Nisa Investment Advisors LLC’s holdings in NetApp were worth $2,664,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. raised its holdings in shares of NetApp by 87.5% in the 1st quarter. Meeder Asset Management Inc. now owns 662 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 309 shares during the last quarter. Hoey Investments Inc. raised its holdings in shares of NetApp by 125.0% in the 2nd quarter. Hoey Investments Inc. now owns 900 shares of the data storage provider’s stock worth $40,000 after acquiring an additional 500 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of NetApp in the 1st quarter worth about $50,000. Signaturefd LLC raised its holdings in shares of NetApp by 58.0% in the 1st quarter. Signaturefd LLC now owns 1,876 shares of the data storage provider’s stock worth $78,000 after acquiring an additional 689 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of NetApp by 61.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,699 shares of the data storage provider’s stock worth $102,000 after acquiring an additional 647 shares during the last quarter. Institutional investors own 90.12% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Lake Street Capital lowered their target price on shares of NetApp from $56.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, May 28th. Susquehanna Bancshares restated a “buy” rating and issued a $60.00 target price on shares of NetApp in a report on Friday, July 10th. Zacks Investment Research lowered shares of NetApp from a “hold” rating to a “sell” rating and set a $47.00 price objective for the company. in a research note on Wednesday, May 27th. BidaskClub lowered shares of NetApp from a “sell” rating to a “strong sell” rating in a research note on Friday, May 29th. Finally, Barclays increased their price objective on shares of NetApp from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, May 28th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $50.89.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, May 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.15. NetApp had a net margin of 15.13% and a return on equity of 168.65%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the business posted $1.22 EPS. NetApp’s quarterly revenue was down 12.0% compared to the same quarter last year. As a group, equities analysts expect that NetApp Inc. will post 2.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.33%. The ex-dividend date was Thursday, July 9th. NetApp’s dividend payout ratio (DPR) is presently 54.39%.
NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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