Schwab Charles Investment Management Inc. decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 967,894 shares of the data storage provider’s stock after selling 47,110 shares during the period. Schwab Charles Investment Management Inc. owned about 0.36% of NetApp worth $38,765,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in NTAP. BlackRock Inc. increased its stake in NetApp by 1,529.1% during the 1st quarter. BlackRock Inc. now owns 20,130,070 shares of the data storage provider’s stock worth $842,443,000 after buying an additional 18,894,401 shares during the period. FMR LLC increased its stake in NetApp by 397.8% during the 1st quarter. FMR LLC now owns 1,608,714 shares of the data storage provider’s stock worth $67,325,000 after buying an additional 1,285,545 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in NetApp by 3,230.3% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,202,818 shares of the data storage provider’s stock worth $50,338,000 after buying an additional 1,166,701 shares during the period. Argent Capital Management LLC purchased a new stake in NetApp during the 1st quarter worth $35,709,000. Finally, Wellington Management Group LLP increased its stake in NetApp by 3,256.4% during the 1st quarter. Wellington Management Group LLP now owns 819,339 shares of the data storage provider’s stock worth $34,289,000 after buying an additional 794,928 shares during the period. 92.10% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, EVP Henri P. Richard sold 1,976 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $43.41, for a total value of $85,778.16. Following the transaction, the executive vice president now owns 19,788 shares of the company’s stock, valued at approximately $858,997.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 4,570 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $37.98, for a total transaction of $173,568.60. Following the completion of the transaction, the chief executive officer now directly owns 23,028 shares in the company, valued at approximately $874,603.44. The disclosure for this sale can be found here. Insiders sold a total of 83,226 shares of company stock worth $3,344,026 in the last ninety days. Insiders own 0.47% of the company’s stock.
Several research firms have recently weighed in on NTAP. BidaskClub downgraded shares of NetApp from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Zacks Investment Research raised shares of NetApp from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. OTR Global raised shares of NetApp to a “positive” rating in a research report on Monday, May 15th. Drexel Hamilton reissued a “buy” rating and issued a $62.00 target price on shares of NetApp in a research report on Wednesday, May 24th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $45.00 target price on shares of NetApp in a research report on Friday, June 9th. Three investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $43.70.
Shares of NetApp, Inc. (NASDAQ NTAP) opened at 39.46 on Tuesday. The company has a 50 day moving average of $40.97 and a 200-day moving average of $40.67. The company has a market capitalization of $10.65 billion, a P/E ratio of 19.05 and a beta of 1.22. NetApp, Inc. has a 12-month low of $30.36 and a 12-month high of $45.24.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, August 16th. The data storage provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.07. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that NetApp, Inc. will post $3.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, October 5th. NetApp’s dividend payout ratio (DPR) is presently 38.65%.
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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