Teacher Retirement System of Texas trimmed its stake in NetApp, Inc. (NASDAQ:NTAP) by 13.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,225 shares of the data storage provider’s stock after selling 22,094 shares during the period. Teacher Retirement System of Texas owned about 0.05% of NetApp worth $6,486,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of NTAP. Exane Derivatives grew its holdings in NetApp by 59,850.0% during the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after acquiring an additional 2,394 shares during the period. First Personal Financial Services grew its holdings in NetApp by 27,540.0% during the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock worth $121,000 after acquiring an additional 2,754 shares during the period. Krilogy Financial LLC acquired a new stake in NetApp during the 2nd quarter worth about $122,000. Pillar Pacific Capital Management LLC acquired a new stake in NetApp during the 3rd quarter worth about $206,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in NetApp by 3.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,189 shares of the data storage provider’s stock worth $208,000 after acquiring an additional 185 shares during the period. Hedge funds and other institutional investors own 93.91% of the company’s stock.
In other NetApp news, CEO George Kurian sold 4,570 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $37.98, for a total value of $173,568.60. Following the completion of the sale, the chief executive officer now directly owns 23,028 shares of the company’s stock, valued at $874,603.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard P. Wallace sold 34,000 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $43.53, for a total transaction of $1,480,020.00. Following the completion of the sale, the director now directly owns 24,132 shares of the company’s stock, valued at $1,050,465.96. The disclosure for this sale can be found here. Insiders sold 74,343 shares of company stock valued at $3,302,273 over the last three months. 0.47% of the stock is currently owned by insiders.
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NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. equities analysts anticipate that NetApp, Inc. will post 2.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s dividend payout ratio is presently 34.33%.
NTAP has been the subject of a number of recent analyst reports. Maxim Group increased their price target on NetApp from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley restated an “underweight” rating on shares of NetApp in a research note on Saturday, September 23rd. DA Davidson restated a “buy” rating and issued a $51.00 target price on shares of NetApp in a research note on Monday, October 2nd. Barclays PLC upgraded NetApp from an “underweight” rating to an “overweight” rating and raised their target price for the company from $38.00 to $52.00 in a research note on Thursday, November 9th. Finally, Credit Suisse Group raised their target price on NetApp from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $48.68.
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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