NetApp, Inc. (NTAP) Stake Held by FCA Corp TX

FCA Corp TX continued to hold its position in shares of NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,000 shares of the data storage provider’s stock at the end of the second quarter. FCA Corp TX’s holdings in NetApp were worth $360,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of NTAP. Vanguard Group Inc. raised its stake in NetApp by 2.4% in the first quarter. Vanguard Group Inc. now owns 26,733,109 shares of the data storage provider’s stock valued at $1,118,781,000 after buying an additional 621,932 shares in the last quarter. BlackRock Inc. raised its stake in NetApp by 1,529.1% in the first quarter. BlackRock Inc. now owns 20,130,070 shares of the data storage provider’s stock valued at $842,443,000 after buying an additional 18,894,401 shares in the last quarter. Schroder Investment Management Group raised its stake in NetApp by 10.7% in the first quarter. Schroder Investment Management Group now owns 3,149,828 shares of the data storage provider’s stock valued at $131,978,000 after buying an additional 304,535 shares in the last quarter. Geode Capital Management LLC raised its stake in NetApp by 5.7% in the first quarter. Geode Capital Management LLC now owns 3,042,360 shares of the data storage provider’s stock valued at $127,165,000 after buying an additional 164,120 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its stake in NetApp by 23.4% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 2,929,250 shares of the data storage provider’s stock valued at $122,589,000 after buying an additional 556,016 shares in the last quarter. Hedge funds and other institutional investors own 90.10% of the company’s stock.

Shares of NetApp, Inc. (NTAP) opened at 38.95 on Tuesday. The company has a 50-day moving average of $42.06 and a 200 day moving average of $40.76. NetApp, Inc. has a 52 week low of $30.36 and a 52 week high of $45.24. The firm has a market capitalization of $10.52 billion, a P/E ratio of 18.81 and a beta of 1.21.

NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.07. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 EPS. Equities research analysts anticipate that NetApp, Inc. will post $3.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, October 5th. NetApp’s dividend payout ratio is presently 38.65%.

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NTAP has been the topic of several analyst reports. Zacks Investment Research lowered NetApp from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. BidaskClub lowered NetApp from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Royal Bank Of Canada reiterated a “hold” rating on shares of NetApp in a research note on Friday, April 28th. OTR Global upgraded NetApp to a “positive” rating in a research note on Monday, May 15th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $62.00 price objective on shares of NetApp in a research note on Wednesday, May 24th. Three research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and thirteen have given a buy rating to the stock. NetApp currently has a consensus rating of “Hold” and an average price target of $43.69.

In other news, CEO George Kurian sold 4,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $43.67, for a total value of $174,680.00. Following the transaction, the chief executive officer now owns 27,598 shares of the company’s stock, valued at approximately $1,205,204.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffry R. Allen sold 20,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $40.46, for a total transaction of $809,200.00. Following the completion of the transaction, the director now directly owns 8,500 shares in the company, valued at approximately $343,910. The disclosure for this sale can be found here. Insiders sold a total of 117,518 shares of company stock worth $4,726,762 over the last quarter. Corporate insiders own 0.47% of the company’s stock.

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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