Commerzbank Aktiengesellschaft FI purchased a new position in NetApp, Inc. (NASDAQ:NTAP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,301 shares of the data storage provider’s stock, valued at approximately $212,000.
Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of NetApp by 2.4% in the first quarter. Vanguard Group Inc. now owns 26,733,109 shares of the data storage provider’s stock worth $1,118,781,000 after acquiring an additional 621,932 shares during the period. BlackRock Inc. grew its stake in shares of NetApp by 1,529.1% in the first quarter. BlackRock Inc. now owns 20,130,070 shares of the data storage provider’s stock worth $842,443,000 after acquiring an additional 18,894,401 shares during the period. Schroder Investment Management Group grew its stake in shares of NetApp by 10.7% in the first quarter. Schroder Investment Management Group now owns 3,149,828 shares of the data storage provider’s stock worth $131,978,000 after acquiring an additional 304,535 shares during the period. Geode Capital Management LLC grew its stake in shares of NetApp by 5.7% in the first quarter. Geode Capital Management LLC now owns 3,042,360 shares of the data storage provider’s stock worth $127,165,000 after acquiring an additional 164,120 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of NetApp by 14.3% in the first quarter. JPMorgan Chase & Co. now owns 2,150,753 shares of the data storage provider’s stock worth $90,009,000 after acquiring an additional 269,208 shares during the period. Hedge funds and other institutional investors own 92.10% of the company’s stock.
A number of brokerages have recently commented on NTAP. ValuEngine lowered shares of NetApp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Loop Capital began coverage on shares of NetApp in a research note on Thursday, August 24th. They issued a “hold” rating and a $41.00 price target for the company. Jefferies Group LLC set a $45.00 price target on shares of NetApp and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. Argus upgraded shares of NetApp from a “hold” rating to a “buy” rating in a research note on Monday, August 21st. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of NetApp in a research note on Sunday, August 20th. Three equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $43.70.
In other news, VP Joel D. Reich sold 9,031 shares of NetApp stock in a transaction on Friday, June 30th. The stock was sold at an average price of $39.81, for a total transaction of $359,524.11. Following the transaction, the vice president now owns 10,902 shares in the company, valued at approximately $434,008.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 59,697 shares of NetApp stock in a transaction on Friday, June 30th. The stock was sold at an average price of $39.93, for a total value of $2,383,701.21. Following the transaction, the chief executive officer now owns 87,295 shares in the company, valued at approximately $3,485,689.35. 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 90 days. 0.47% of the stock is currently owned by insiders.
Shares of NetApp, Inc. (NASDAQ:NTAP) opened at 39.93 on Wednesday. The stock has a market cap of $10.78 billion, a P/E ratio of 19.28 and a beta of 1.22. The company’s 50-day moving average is $40.93 and its 200-day moving average is $40.66. NetApp, Inc. has a 1-year low of $30.36 and a 1-year high of $45.24.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.07. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. Equities analysts expect that NetApp, Inc. will post $3.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.00%. NetApp’s payout ratio is currently 38.65%.
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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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