Ameriprise Financial Inc. increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 34.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 410,708 shares of the data storage provider’s stock after purchasing an additional 104,321 shares during the quarter. Ameriprise Financial Inc. owned 0.15% of NetApp worth $17,973,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of NTAP. SG Americas Securities LLC grew its position in NetApp by 24.0% in the 3rd quarter. SG Americas Securities LLC now owns 263,718 shares of the data storage provider’s stock valued at $11,540,000 after acquiring an additional 50,993 shares in the last quarter. Advisors Asset Management Inc. grew its position in NetApp by 6.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 20,440 shares of the data storage provider’s stock valued at $894,000 after acquiring an additional 1,264 shares in the last quarter. Commerce Bank acquired a new position in NetApp in the 3rd quarter valued at about $908,000. Quantbot Technologies LP acquired a new position in NetApp in the 3rd quarter valued at about $131,000. Finally, Kiwi Wealth Investments Limited Partnership acquired a new position in NetApp in the 3rd quarter valued at about $3,406,000. 94.97% of the stock is owned by hedge funds and other institutional investors.
NTAP has been the subject of several research reports. Citigroup lifted their target price on NetApp from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. ValuEngine raised NetApp from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. Susquehanna Bancshares reaffirmed a “positive” rating and issued a $50.00 target price (up from $48.00) on shares of NetApp in a research report on Wednesday, August 16th. DA Davidson lifted their target price on NetApp from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Finally, BMO Capital Markets raised NetApp from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $43.00 to $62.00 in a research report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $49.39.
NetApp, Inc. (NTAP) opened at $57.80 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64. The stock has a market capitalization of $15,543.29, a PE ratio of 21.90, a PEG ratio of 1.89 and a beta of 1.28. NetApp, Inc. has a 52 week low of $35.08 and a 52 week high of $58.99.
NetApp (NASDAQ:NTAP) last posted its 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 firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. sell-side analysts expect that NetApp, Inc. will post 2.72 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, January 4th. NetApp’s payout ratio is 34.33%.
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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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