CAPROCK Group Inc. increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,278 shares of the data storage provider’s stock after buying an additional 44 shares during the period. CAPROCK Group Inc.’s holdings in NetApp were worth $211,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Contravisory Investment Management Inc. boosted its stake in NetApp by 0.6% in the second quarter. Contravisory Investment Management Inc. now owns 7,059 shares of the data storage provider’s stock valued at $283,000 after buying an additional 45 shares in the last quarter. Breton Hill Capital Ltd. boosted its stake in NetApp by 0.3% in the second quarter. Breton Hill Capital Ltd. now owns 17,290 shares of the data storage provider’s stock valued at $692,000 after buying an additional 59 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in NetApp by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider’s stock valued at $673,000 after buying an additional 100 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its stake in NetApp by 0.8% in the first quarter. Jaffetilchin Investment Partners LLC now owns 14,713 shares of the data storage provider’s stock valued at $616,000 after buying an additional 118 shares in the last quarter. Finally, Cadence Capital Management LLC boosted its stake in NetApp by 1.6% in the first quarter. Cadence Capital Management LLC now owns 9,867 shares of the data storage provider’s stock valued at $413,000 after buying an additional 159 shares in the last quarter. 90.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NetApp, Inc. (NTAP) traded down 0.53% during trading on Friday, hitting $39.35. The stock had a trading volume of 4,957,257 shares. The firm has a 50 day moving average of $42.11 and a 200 day moving average of $40.71. NetApp, Inc. has a 1-year low of $30.36 and a 1-year high of $45.24. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 19.00 and a beta of 1.21.
NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.07. NetApp had a return on equity of 24.16% and a net margin of 10.47%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business posted $0.46 EPS. NetApp’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that NetApp, Inc. will post $3.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, October 5th. NetApp’s dividend payout ratio (DPR) is presently 38.65%.
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Several analysts have weighed in on the stock. UBS AG upgraded shares of NetApp from a “sell” rating to a “neutral” rating and set a $40.00 target price for the company in a research note on Friday, May 26th. BidaskClub lowered shares of NetApp from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $50.00 target price (up previously from $48.00) on shares of NetApp in a research note on Wednesday. Stifel Nicolaus reiterated a “hold” rating and set a $37.00 target price on shares of NetApp in a research note on Wednesday. Finally, Lake Street Capital boosted their target price on shares of NetApp from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have issued a buy rating to the company’s stock. NetApp has a consensus rating of “Hold” and a consensus price target of $43.26.
In other news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $43.41, for a total transaction of $85,778.16. Following the transaction, the executive vice president now owns 19,788 shares in the company, valued at approximately $858,997.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joel D. Reich sold 9,031 shares of NetApp stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $39.81, for a total value of $359,524.11. Following the transaction, the vice president now owns 10,902 shares in the company, valued at approximately $434,008.62. The disclosure for this sale can be found here. Insiders have sold a total of 117,518 shares of company stock worth $4,726,762 in the last quarter. 0.47% of the stock is currently owned by company insiders.
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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