Premia Global Advisors LLC bought a new position in NetApp Inc. (NASDAQ:NTAP) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 5,073 shares of the data storage provider’s stock, valued at approximately $280,000.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Investec Asset Management LTD acquired a new stake in shares of NetApp during the 4th quarter worth about $290,829,000. Boston Partners grew its position in NetApp by 68.1% in the 4th quarter. Boston Partners now owns 12,127,140 shares of the data storage provider’s stock valued at $670,873,000 after acquiring an additional 4,914,409 shares in the last quarter. Bank of New York Mellon Corp grew its position in NetApp by 25.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,061,906 shares of the data storage provider’s stock valued at $177,748,000 after acquiring an additional 817,147 shares in the last quarter. Shellback Capital LP acquired a new position in NetApp in the 4th quarter valued at about $36,817,000. Finally, Oakview Capital Management L.P. acquired a new position in NetApp in the 3rd quarter valued at about $24,533,000. 94.99% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on NTAP. Pivotal Research set a $62.00 target price on NetApp and gave the company a “hold” rating in a research report on Wednesday, February 28th. Zacks Investment Research downgraded NetApp from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. TheStreet downgraded NetApp from a “b” rating to a “c+” rating in a research report on Wednesday, February 14th. Wells Fargo & Co lifted their price objective on NetApp from $54.00 to $62.00 and gave the company a “market perform” rating in a research note on Thursday, February 15th. Finally, BMO Capital Markets lifted their price objective on NetApp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the stock. NetApp presently has a consensus rating of “Hold” and a consensus target price of $56.23.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.08. NetApp had a positive return on equity of 29.38% and a negative net margin of 0.09%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. equities research analysts expect that NetApp Inc. will post 2.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, April 5th. NetApp’s dividend payout ratio is currently -1,000.00%.
In other news, VP Joel D. Reich sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $55.80, for a total value of $362,700.00. Following the transaction, the vice president now owns 3,950 shares of the company’s stock, valued at $220,410. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO George Kurian sold 3,826 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $63.01, for a total value of $241,076.26. Following the completion of the transaction, the chief executive officer now directly owns 20,637 shares in the company, valued at approximately $1,300,337.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,027 shares of company stock valued at $3,653,425. 0.47% of the stock is owned by company insiders.
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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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