NetApp, Inc. (NTAP) Stake Lessened by Employees Retirement System of Texas

Employees Retirement System of Texas decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,000 shares of the data storage provider’s stock after selling 1,000 shares during the period. Employees Retirement System of Texas’ holdings in NetApp were worth $1,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of NetApp by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 27,214,474 shares of the data storage provider’s stock valued at $1,089,939,000 after buying an additional 481,365 shares in the last quarter. BlackRock Inc. lifted its position in shares of NetApp by 7.5% during the 2nd quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock valued at $867,006,000 after buying an additional 1,517,967 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of NetApp by 781.1% during the 2nd quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock valued at $133,750,000 after buying an additional 2,960,542 shares in the last quarter. FMR LLC lifted its position in shares of NetApp by 89.2% during the 2nd quarter. FMR LLC now owns 3,044,302 shares of the data storage provider’s stock valued at $121,924,000 after buying an additional 1,435,588 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of NetApp by 5.7% during the 1st 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. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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A number of brokerages have recently issued reports on NTAP. 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 report on Wednesday, August 16th. Stifel Nicolaus reissued a “hold” rating and issued a $37.00 price objective on shares of NetApp in a research note on Wednesday, August 16th. Barclays PLC increased their price objective on NetApp from $35.00 to $38.00 and gave the company an “underweight” rating in a research note on Thursday, August 17th. Lake Street Capital increased their price objective on NetApp from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $62.00 price objective (up from $60.00) on shares of NetApp in a research note on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and thirteen have issued a buy rating to the company’s stock. NetApp presently has an average rating of “Hold” and a consensus price target of $45.12.

In related news, EVP Henri P. Richard sold 1,976 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $43.41, for a total value of $85,778.16. Following the completion of the transaction, the executive vice president now owns 19,788 shares of the company’s stock, valued at $858,997.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Henri P. Richard sold 3,952 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $42.20, for a total value of $166,774.40. The disclosure for this sale can be found here. Insiders sold 52,450 shares of company stock valued at $2,250,560 in the last ninety days. Company insiders own 0.47% of the company’s stock.

NetApp, Inc. (NASDAQ:NTAP) opened at 43.51 on Thursday. The stock has a market cap of $11.74 billion, a PE ratio of 21.01 and a beta of 1.26. NetApp, Inc. has a 52 week low of $30.36 and a 52 week high of $45.24. The stock has a 50 day moving average price of $41.24 and a 200 day moving average price of $40.81.

NetApp (NASDAQ:NTAP) last issued 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. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. The company’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts predict that NetApp, Inc. will post $3.12 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, October 5th. NetApp’s payout ratio is 38.65%.

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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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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