Alps Advisors Inc. grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 114.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,842 shares of the data storage provider’s stock after purchasing an additional 14,354 shares during the period. Alps Advisors Inc.’s holdings in NetApp were worth $1,175,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in NTAP. Exane Derivatives increased its stake in shares of NetApp by 59,850.0% in the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after acquiring an additional 2,394 shares during the last quarter. First Personal Financial Services increased its stake in shares of NetApp by 27,540.0% in the third quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock worth $121,000 after acquiring an additional 2,754 shares during the last quarter. Krilogy Financial LLC acquired a new position in shares of NetApp in the second quarter worth $122,000. Pillar Pacific Capital Management LLC acquired a new position in shares of NetApp in the third quarter worth $206,000. Finally, Raymond James Trust N.A. acquired a new position in shares of NetApp in the third quarter worth $208,000. Institutional investors own 93.91% of the company’s stock.
Shares of NetApp, Inc. (NASDAQ NTAP) opened at $46.00 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.27. The firm has a market cap of $12,500.57, a P/E ratio of 19.47, a P/E/G ratio of 1.63 and a beta of 1.16. NetApp, Inc. has a fifty-two week low of $33.83 and a fifty-two week high of $47.20.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.07. The business had revenue of $1.33 billion during 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%. NetApp’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share. research analysts expect that NetApp, Inc. will post 2.49 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Friday, October 6th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Thursday, October 5th. NetApp’s dividend payout ratio is currently 38.65%.
In related news, CEO George Kurian sold 4,570 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $37.98, for a total value of $173,568.60. Following the completion of the sale, the chief executive officer now owns 23,028 shares of the company’s stock, valued at $874,603.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard P. Wallace sold 34,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $43.53, for a total transaction of $1,480,020.00. Following the completion of the sale, the director now directly owns 24,132 shares of the company’s stock, valued at approximately $1,050,465.96. The disclosure for this sale can be found here. In the last three months, insiders sold 74,343 shares of company stock valued at $3,302,273. 0.47% of the stock is currently owned by company insiders.
NTAP has been the topic of a number of research reports. Morgan Stanley reaffirmed an “underweight” rating on shares of NetApp in a research note on Saturday, September 23rd. DA Davidson reaffirmed a “buy” rating and issued a $51.00 price target on shares of NetApp in a research note on Monday, October 2nd. Credit Suisse Group upped their price target on shares of NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of NetApp from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Wednesday, October 4th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of NetApp in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and fourteen have given a buy rating to the stock. NetApp currently has an average rating of “Hold” and a consensus price target of $46.00.
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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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