Stone Ridge Asset Management LLC purchased a new stake in NetApp Inc. (NASDAQ:NTAP) in the 4th quarter, HoldingsChannel reports. The fund purchased 39,448 shares of the data storage provider’s stock, valued at approximately $2,182,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NTAP. Investec Asset Management LTD acquired a new stake in NetApp in the 4th quarter valued at $290,829,000. Boston Partners increased its holdings in NetApp by 68.1% in the 4th quarter. Boston Partners now owns 12,127,140 shares of the data storage provider’s stock valued at $670,873,000 after purchasing an additional 4,914,409 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in NetApp by 25.2% in the 3rd 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 purchasing an additional 817,147 shares in the last quarter. Shellback Capital LP acquired a new stake in NetApp in the 4th quarter valued at $36,817,000. Finally, Oakview Capital Management L.P. acquired a new stake in NetApp in the 3rd quarter valued at $24,533,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.
Several analysts recently issued reports on NTAP shares. Zacks Investment Research upgraded NetApp from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, February 6th. Pivotal Research set a $62.00 price target on NetApp and gave the company a “hold” rating in a report on Wednesday, February 28th. ValuEngine upgraded NetApp from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. DA Davidson downgraded NetApp from a “buy” rating to a “neutral” rating and increased their price target for the company from $56.00 to $64.00 in a report on Tuesday, January 23rd. Finally, BMO Capital Markets raised shares of NetApp from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $43.00 to $62.00 in a research report on Thursday, November 16th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $56.23.
NetApp Inc. (NASDAQ:NTAP) opened at $64.53 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.88 and a current ratio of 1.91. NetApp Inc. has a 12-month low of $37.43 and a 12-month high of $65.44. The company has a market cap of $17,484.64, a PE ratio of 23.39, a PEG ratio of 2.08 and a beta of 1.29.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, February 14th. The data storage provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.91 by $0.08. NetApp had a negative net margin of 0.09% and a positive return on equity of 29.38%. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the company posted $0.82 earnings per share. research analysts forecast that NetApp Inc. will post 2.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Friday, April 6th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, April 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. NetApp’s payout ratio is -1,000.00%.
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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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