Access Financial Services Inc. lowered its holdings in NetApp, Inc. (NASDAQ: NTAP – Get Rating) by 6.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,471 shares of the data storage provider’s stock after selling 1,263 shares during the period. Access Financial Services Inc.’s holdings in NetApp were worth $ 1,450,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of NetApp by 4.2% during the fourth quarter. State Street Corp now owns 10,051,825 shares of the data storage provider’s stock worth $ 924,667,000 after acquiring an additional 407,285 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of NetApp by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,656,425 shares of the data storage provider’s stock worth $ 427,514,000 after acquiring an additional 62,115 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of NetApp by 8.6% during the fourth quarter. First Trust Advisors LP now owns 3,763,591 shares of the data storage provider’s stock worth $ 346,213,000 after acquiring an additional 298,517 shares in the last quarter. Norges Bank purchased a new stake in shares of NetApp during the fourth quarter worth $ 204,555,000. Finally, Allianz Asset Management GmbH raised its holdings in shares of NetApp by 1.6% during the fourth quarter. Allianz Asset Management GmbH now owns 1,966,533 shares of the data storage provider’s stock worth $ 180,901,000 after acquiring an additional 30,396 shares in the last quarter. Institutional investors own 91.91% of the company stock.
Shares of NTAP opened at $ 67.27 on Tuesday. The stock has a market cap of $ 14.88 billion, a price-to-earnings ratio of 16.41, a P / E / G ratio of 1.71 and a beta of 1.24. The company has a quick ratio of 1.45, a current ratio of 1.50 and a debt-to-equity ratio of 2.85. NetApp, Inc. has a 12 month low of $ 62.78 and a 12 month high of $ 96.82. The company has a 50-day moving average price of $ 70.66 and a two-hundred day moving average price of $ 80.94.
NetApp (NASDAQ: NTAP – Get Rating) last announced its quarterly earnings results on Wednesday, June 1st. The data storage provider reported $ 1.42 EPS for the quarter, topping analysts’ consensus estimates of $ 1.28 by $ 0.14. The firm had revenue of $ 1.68 billion during the quarter, compared to analysts’ expectations of $ 1.68 billion. NetApp had a net margin of 14.83% and a return on equity of 127.40%. The company revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $ 0.96 earnings per share. Equities research analysts expect that NetApp, Inc. will post 4.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Friday, July 8th will be paid a $ 0.50 dividend. This represents a $ 2.00 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Thursday, July 7th. NetApp’s dividend payout ratio (DPR) is currently 48.78%.
NTAP has been the subject of several recent research reports. William Blair reiterated an “outperform” rating on shares of NetApp in a report on Wednesday, March 23rd. Bank of America downgraded shares of NetApp from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $ 100.00 to $ 96.00 in a research report on Thursday, March 24th. UBS Group started coverage on shares of NetApp in a research report on Tuesday, April 5th. They set a “neutral” rating and a $ 91.00 target price on the stock. Susquehanna lowered their target price on shares of NetApp from $ 110.00 to $ 100.00 and set a “buy” rating on the stock in a research report on Thursday, June 2nd. Finally, Northland Securities lowered their target price on shares of NetApp from $ 124.00 to $ 101.00 in a research report on Thursday, June 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $ 94.11.
In other news, CEO George Kurian sold 4,250 shares of NetApp stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $ 75.50, for a total value of $ 320,875.00. Following the completion of the transaction, the chief executive officer now owns 130,576 shares in the company, valued at $ 9,858,488. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael J. Berry bought 5,000 shares of the business’s stock in a transaction dated Friday, June 3rd. The stock was purchased at an average price of $ 72.04 per share, with a total value of $ 360,200.00. Following the purchase, the chief financial officer now directly owns 95,875 shares of the company stock, valued at approximately $ 6,906,835. The disclosure for this purchase can be found here. Insiders sold 28,625 shares of company stock valued at $ 1,914,344 in the last quarter. 0.28% of the stock is currently owned by corporate insiders.
NetApp Company Profile: (Get Rating)
NetApp, Inc provides software, systems, and cloud services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud storage services, including NetApp Cloud Volumes; cloud control solutions, such as NetApp Cloud Manager and NetApp Virtual Desktop Service; cloud services and analytics comprising NetApp Cloud Insights, NetApp Cloud Sync, NetApp Cloud Compliance, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Cloud Backup, and NetApp Global File Cache; and Cloud Optimization solutions, such as Spot by NetApp, Spot Cloud Analyzer by NetApp, Spot Eco by NetApp, Spot Ocean by NetApp, Spot Wave by NetApp, Spot Elastigroup by NetApp, and NetApp Virtual Desktop Managed Service.
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