Engineers Gate Manager LP Grows Holdings in NetApp Inc. (NTAP)

Engineers Gate Manager LP increased its stake in NetApp Inc. (NASDAQ:NTAP) by 18.0% during the 4th quarter, HoldingsChannel reports. The fund owned 43,139 shares of the data storage provider’s stock after purchasing an additional 6,572 shares during the quarter. Engineers Gate Manager LP’s holdings in NetApp were worth $2,386,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTAP. Boston Partners acquired a new stake in shares of NetApp in the third quarter valued at $315,629,000. Janus Henderson Group PLC increased its holdings in NetApp by 6,495.7% in the second quarter. Janus Henderson Group PLC now owns 2,312,525 shares of the data storage provider’s stock valued at $92,617,000 after buying an additional 2,277,464 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in NetApp by 550.9% in the second quarter. Lord Abbett & CO. LLC now owns 1,584,303 shares of the data storage provider’s stock valued at $63,451,000 after buying an additional 1,340,903 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in NetApp by 25.2% in the third quarter. Bank of New York Mellon Corp now owns 4,061,906 shares of the data storage provider’s stock valued at $177,748,000 after buying an additional 817,147 shares during the last quarter. Finally, APG Asset Management N.V. increased its holdings in NetApp by 22.9% in the third quarter. APG Asset Management N.V. now owns 3,046,414 shares of the data storage provider’s stock valued at $133,311,000 after buying an additional 567,300 shares during the last quarter. Institutional investors and hedge funds own 94.96% of the company’s stock.

NetApp Inc. (NASDAQ NTAP) opened at $56.81 on Tuesday. The stock has a market capitalization of $16,066.20, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32. NetApp Inc. has a twelve month low of $37.43 and a twelve month high of $64.06. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company posted $0.60 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. sell-side analysts forecast that NetApp Inc. will post 2.76 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Friday, January 5th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Thursday, January 4th. NetApp’s dividend payout ratio is currently 34.33%.

Several research firms recently commented on NTAP. DA Davidson lowered NetApp from a “buy” rating to a “neutral” rating and increased their target price for the company from $56.00 to $64.00 in a report on Tuesday, January 23rd. Morgan Stanley raised NetApp from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $41.00 to $64.00 in a report on Tuesday, January 23rd. UBS Group increased their target price on NetApp from $62.00 to $71.00 and gave the company a “buy” rating in a report on Friday, January 26th. ValuEngine raised NetApp from a “hold” rating to a “buy” rating in a report on Friday. Finally, Zacks Investment Research lowered NetApp from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $51.63.

In related news, Director Thomas Michael Nevens sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $55.67, for a total transaction of $1,113,400.00. Following the transaction, the director now owns 17,000 shares of the company’s stock, valued at $946,390. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO George Kurian sold 3,826 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $63.01, for a total transaction of $241,076.26. Following the completion of the sale, the chief executive officer now owns 20,637 shares of the company’s stock, valued at approximately $1,300,337.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 199,454 shares of company stock worth $10,542,184. Corporate insiders own 0.47% of the company’s stock.

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About NetApp

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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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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