State of Wisconsin Investment Board Sells 9,695 Shares of NetApp Inc. (NTAP)

State of Wisconsin Investment Board reduced its holdings in NetApp Inc. (NASDAQ:NTAP) by 3.0% during the 2nd quarter, Holdings Channel reports. The fund owned 312,257 shares of the data storage provider’s stock after selling 9,695 shares during the period. State of Wisconsin Investment Board’s holdings in NetApp were worth $24,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in NTAP. JPMorgan Chase & Co. boosted its holdings in shares of NetApp by 488.7% in the 1st quarter. JPMorgan Chase & Co. now owns 3,537,659 shares of the data storage provider’s stock valued at $218,239,000 after acquiring an additional 2,936,713 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of NetApp by 6,367.4% in the 1st quarter. Summit Trail Advisors LLC now owns 2,773,654 shares of the data storage provider’s stock valued at $2,774,000 after acquiring an additional 2,730,767 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of NetApp in the 2nd quarter valued at $111,089,000. Boston Partners boosted its holdings in shares of NetApp by 10.3% in the 1st quarter. Boston Partners now owns 13,381,688 shares of the data storage provider’s stock valued at $825,516,000 after acquiring an additional 1,254,548 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of NetApp in the 2nd quarter valued at $79,731,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Shares of NetApp opened at $81.95 on Friday, according to MarketBeat. NetApp Inc. has a 1 year low of $37.55 and a 1 year high of $83.60. The firm has a market cap of $21.60 billion, a P/E ratio of 27.44, a PEG ratio of 1.69 and a beta of 1.19. The company has a current ratio of 1.89, a quick ratio of 1.86 and a debt-to-equity ratio of 0.75.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, May 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.04. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.60 billion. NetApp had a net margin of 1.29% and a return on equity of 33.87%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 earnings per share. research analysts anticipate that NetApp Inc. will post 3.53 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 25th. Shareholders of record on Friday, July 6th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, July 5th. This is a boost from NetApp’s previous quarterly dividend of $0.20. This represents a $1.60 dividend on an annualized basis and a yield of 1.95%. NetApp’s dividend payout ratio is currently 53.51%.

Several research firms have recently commented on NTAP. Argus upped their price objective on shares of NetApp to $90.00 and gave the company a “buy” rating in a report on Thursday, July 5th. They noted that the move was a valuation call. Longbow Research upped their price objective on shares of NetApp from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 24th. DA Davidson set a $83.00 price objective on shares of NetApp and gave the company a “buy” rating in a report on Thursday, May 24th. JPMorgan Chase & Co. set a $80.00 price objective on shares of NetApp and gave the company a “buy” rating in a report on Thursday, May 24th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of NetApp in a report on Wednesday, May 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $72.50.

In other NetApp news, VP Joel D. Reich sold 23,108 shares of the company’s stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $67.72, for a total transaction of $1,564,873.76. Following the completion of the transaction, the vice president now directly owns 52,997 shares in the company, valued at $3,588,956.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joel D. Reich sold 12,000 shares of the company’s stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $73.13, for a total transaction of $877,560.00. Following the transaction, the vice president now owns 32,760 shares of the company’s stock, valued at $2,395,738.80. The disclosure for this sale can be found here. Insiders have sold 242,433 shares of company stock valued at $18,195,573 over the last 90 days. 0.19% of the stock is currently owned by company insiders.

NetApp Company Profile

NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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