Strategy Asset Managers LLC Takes Position in NetApp Inc. (NTAP)

Strategy Asset Managers LLC purchased a new position in shares of NetApp Inc. (NASDAQ:NTAP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 33,045 shares of the data storage provider’s stock, valued at approximately $2,838,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NTAP. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of NetApp during the 3rd quarter worth approximately $161,995,000. Renaissance Technologies LLC lifted its stake in NetApp by 270.0% in the 2nd quarter. Renaissance Technologies LLC now owns 2,332,932 shares of the data storage provider’s stock valued at $183,205,000 after purchasing an additional 1,702,432 shares during the last quarter. American Century Companies Inc. lifted its stake in NetApp by 8,411.2% in the 2nd quarter. American Century Companies Inc. now owns 1,696,205 shares of the data storage provider’s stock valued at $133,203,000 after purchasing an additional 1,676,276 shares during the last quarter. Bank of Montreal Can bought a new position in NetApp in the 2nd quarter valued at approximately $111,089,000. Finally, Janus Henderson Group PLC lifted its stake in NetApp by 388.7% in the 2nd quarter. Janus Henderson Group PLC now owns 1,375,800 shares of the data storage provider’s stock valued at $108,044,000 after purchasing an additional 1,094,273 shares during the last quarter. Institutional investors and hedge funds own 95.59% of the company’s stock.

In related news, CEO George Kurian sold 11,435 shares of NetApp stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $78.46, for a total transaction of $897,190.10. Following the completion of the transaction, the chief executive officer now owns 12,044 shares of the company’s stock, valued at $944,972.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Henri P. Richard sold 2,525 shares of NetApp stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $79.60, for a total transaction of $200,990.00. Following the transaction, the executive vice president now directly owns 70,732 shares of the company’s stock, valued at approximately $5,630,267.20. The disclosure for this sale can be found here. Insiders have sold 121,451 shares of company stock valued at $10,109,334 in the last ninety days. Insiders own 0.19% of the company’s stock.

Several brokerages recently commented on NTAP. Bank of America increased their price objective on shares of NetApp from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, August 13th. Guggenheim began coverage on shares of NetApp in a research note on Thursday, July 12th. They issued a “buy” rating and a $94.00 price objective for the company. Zacks Investment Research raised shares of NetApp from a “hold” rating to a “strong-buy” rating and set a $93.00 price objective for the company in a research note on Tuesday, August 21st. JPMorgan Chase & Co. reissued a “buy” rating and issued a $92.00 price objective on shares of NetApp in a research note on Thursday, August 16th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $90.00 price objective on shares of NetApp in a research note on Thursday, August 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. NetApp presently has an average rating of “Buy” and an average price target of $81.17.

NTAP stock opened at $78.91 on Friday. The firm has a market cap of $20.46 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.38. NetApp Inc. has a 52-week low of $43.91 and a 52-week high of $88.08. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.80.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, August 15th. The data storage provider reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.24. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.42 billion. NetApp had a net margin of 3.68% and a return on equity of 41.75%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share. On average, research analysts predict that NetApp Inc. will post 3.92 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, October 4th. NetApp’s payout ratio is currently 53.51%.

NetApp Profile

NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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