BlueCrest Capital Management Ltd acquired a new stake in NetApp Inc. (NASDAQ:NTAP) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 35,090 shares of the data storage provider’s stock, valued at approximately $1,941,000.
Other hedge funds have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of NetApp by 9.0% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,939 shares of the data storage provider’s stock valued at $960,000 after buying an additional 1,809 shares in the last quarter. Oakview Capital Management L.P. acquired a new position in shares of NetApp in the 3rd quarter valued at $24,533,000. U S Global Investors Inc. raised its stake in shares of NetApp by 52.0% in the 3rd quarter. U S Global Investors Inc. now owns 12,000 shares of the data storage provider’s stock valued at $525,000 after buying an additional 4,103 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of NetApp by 34.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 410,708 shares of the data storage provider’s stock valued at $17,973,000 after buying an additional 104,321 shares in the last quarter. Finally, Alps Advisors Inc. raised its stake in shares of NetApp by 114.9% in the 3rd quarter. Alps Advisors Inc. now owns 26,842 shares of the data storage provider’s stock valued at $1,175,000 after buying an additional 14,354 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.
A number of equities analysts have recently issued reports on NTAP shares. Royal Bank of Canada increased their price objective on shares of NetApp from $45.00 to $50.00 and gave the company a “sector perform” rating in a research note on Monday, November 13th. Piper Jaffray Companies set a $52.00 price objective on shares of NetApp and gave the company a “buy” rating in a research note on Tuesday, November 14th. DA Davidson increased their price objective on shares of NetApp from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, November 14th. Wells Fargo & Co restated a “market perform” rating and issued a $50.00 price objective on shares of NetApp in a research note on Tuesday, November 14th. Finally, Pivotal Research started coverage on shares of NetApp in a research note on Thursday, November 16th. They issued a “hold” rating and a $54.00 price objective for the company. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $56.23.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.08. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.49 billion. NetApp had a negative net margin of 0.09% and a positive return on equity of 29.38%. During the same quarter last year, the company posted $0.82 EPS. equities research analysts forecast that NetApp Inc. will post 2.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, April 5th. NetApp’s payout ratio is presently 25.72%.
In other news, CEO George Kurian sold 7,020 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $55.83, for a total value of $391,926.60. Following the transaction, the chief executive officer now owns 31,483 shares of the company’s stock, valued at approximately $1,757,695.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Michael Nevens sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $55.67, for a total transaction of $1,113,400.00. Following the completion of the transaction, the director now directly owns 17,000 shares in the company, valued at approximately $946,390. The disclosure for this sale can be found here. Insiders sold a total of 63,027 shares of company stock valued at $3,653,425 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.
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NetApp Company Profile
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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