Janus Henderson Group PLC raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 6,495.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,312,525 shares of the data storage provider’s stock after purchasing an additional 2,277,464 shares during the quarter. Janus Henderson Group PLC owned 0.85% of NetApp worth $92,617,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of NTAP. BlackRock Inc. grew 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 valued at $842,443,000 after purchasing an additional 18,894,401 shares in the last quarter. Renaissance Technologies LLC grew its stake in NetApp by 781.1% during the 2nd quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock valued at $133,750,000 after purchasing an additional 2,960,542 shares in the last quarter. FMR LLC grew its stake in NetApp by 89.2% during the 2nd quarter. FMR LLC now owns 3,044,302 shares of the data storage provider’s stock valued at $121,924,000 after purchasing an additional 1,435,588 shares in the last quarter. Nomura Asset Management Co. Ltd. grew 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 valued at $50,338,000 after purchasing an additional 1,166,701 shares in the last quarter. Finally, Wellington Management Group LLP grew 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 valued at $34,289,000 after purchasing an additional 794,928 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.
NetApp, Inc. (NASDAQ NTAP) opened at 43.66 on Wednesday. The firm has a market capitalization of $11.78 billion, a PE ratio of 21.08 and a beta of 1.26. NetApp, Inc. has a 12 month low of $30.36 and a 12 month high of $45.24. The stock’s 50 day moving average price is $41.10 and its 200 day moving average price is $40.79.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.07. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts expect that NetApp, Inc. will post $3.12 earnings per share 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.83%. The ex-dividend date is Thursday, October 5th. NetApp’s dividend payout ratio is 38.65%.
In other news, EVP Henri P. Richard sold 1,976 shares of the stock in a transaction on Tuesday, August 1st. The stock was 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO George Kurian sold 4,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $43.67, for a total value of $174,680.00. Following the completion of the transaction, the chief executive officer now directly owns 27,598 shares in the company, valued at approximately $1,205,204.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,450 shares of company stock worth $2,250,560. Company insiders own 0.47% of the company’s stock.
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A number of equities research analysts have weighed in on NTAP shares. Citigroup Inc. raised their price objective on NetApp from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. Susquehanna Bancshares Inc restated a “positive” rating and set a $50.00 price objective (up previously from $48.00) on shares of NetApp in a research note on Wednesday, August 16th. Raymond James Financial, Inc. restated a “market perform” rating on shares of NetApp in a research note on Sunday, August 20th. Loop Capital started coverage on NetApp in a research report on Thursday, August 24th. They issued a “hold” rating and a $41.00 target price for the company. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $45.00 target price on shares of NetApp in a research report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and thirteen have given a buy rating to the stock. NetApp has a consensus rating of “Hold” and an average price target of $45.12.
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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