Commonwealth Bank of Australia trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,442 shares of the data storage provider’s stock after selling 1,645 shares during the quarter. Commonwealth Bank of Australia’s holdings in NetApp were worth $2,219,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of NetApp by 2.4% during the first quarter. Vanguard Group Inc. now owns 26,733,109 shares of the data storage provider’s stock worth $1,118,781,000 after acquiring an additional 621,932 shares during the last quarter. BlackRock Inc. increased its position in shares of NetApp by 1,529.1% during the first quarter. BlackRock Inc. now owns 20,130,070 shares of the data storage provider’s stock worth $842,443,000 after acquiring an additional 18,894,401 shares during the last quarter. Schroder Investment Management Group increased its position in shares of NetApp by 10.7% during the first quarter. Schroder Investment Management Group now owns 3,149,828 shares of the data storage provider’s stock worth $131,978,000 after acquiring an additional 304,535 shares during the last quarter. Geode Capital Management LLC increased its position in shares of NetApp by 5.7% during the first quarter. Geode Capital Management LLC now owns 3,042,360 shares of the data storage provider’s stock worth $127,165,000 after acquiring an additional 164,120 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its position in shares of NetApp by 4.0% during the second quarter. Thompson Siegel & Walmsley LLC now owns 2,451,018 shares of the data storage provider’s stock worth $98,164,000 after acquiring an additional 94,407 shares during the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.
NTAP has been the subject of a number of research reports. Zacks Investment Research upgraded NetApp from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. FBN Securities upgraded NetApp from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $45.00 to $50.00 in a research note on Thursday, May 25th. Credit Suisse Group lifted their price target on NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $37.00 price target on shares of NetApp in a research note on Friday, May 26th. Finally, BidaskClub downgraded NetApp from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Three analysts have rated the stock with a sell rating, twenty-three have given a hold rating and thirteen have given a buy rating to the company. NetApp presently has an average rating of “Hold” and a consensus price target of $43.70.
In related news, EVP Henri P. Richard sold 3,952 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $42.20, for a total transaction of $166,774.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 4,570 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $37.98, for a total transaction of $173,568.60. Following the sale, the chief executive officer now owns 23,028 shares in the company, valued at $874,603.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,226 shares of company stock worth $3,344,026. Company insiders own 0.47% of the company’s stock.
Shares of NetApp, Inc. (NASDAQ NTAP) opened at 39.46 on Tuesday. 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 $10.65 billion, a P/E ratio of 19.05 and a beta of 1.22. The firm’s 50-day moving average is $40.97 and its 200 day moving average is $40.67.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. Equities research analysts forecast that NetApp, Inc. will post $3.12 EPS for the current fiscal 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 issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.80 annualized dividend and a yield of 2.03%. NetApp’s dividend payout ratio (DPR) is presently 38.65%.
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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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