Artisan Partners Limited Partnership decreased its stake in shares of NetApp, Inc. (NASDAQ:NTAP – Get Rating) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 753,205 shares of the data storage provider’s stock after selling 17,968 shares during the period. Artisan Partners Limited Partnership owned approximately 0.34% of NetApp worth $49,139,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Deutsche Bank AG increased its position in shares of NetApp by 33.8% during the second quarter. Deutsche Bank AG now owns 967,717 shares of the data storage provider’s stock worth $63,134,000 after acquiring an additional 244,451 shares in the last quarter. Csenge Advisory Group increased its position in shares of NetApp by 12.6% during the first quarter. Csenge Advisory Group now owns 5,296 shares of the data storage provider’s stock worth $440,000 after acquiring an additional 591 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of NetApp by 3.7% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 361,633 shares of the data storage provider’s stock worth $23,593,000 after acquiring an additional 12,971 shares in the last quarter. KBC Group NV increased its position in shares of NetApp by 23.8% during the first quarter. KBC Group NV now owns 95,285 shares of the data storage provider’s stock worth $7,909,000 after acquiring an additional 18,303 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of NetApp by 4.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 10,092 shares of the data storage provider’s stock worth $658,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 88.45% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on NTAP shares. Evercore ISI raised their target price on shares of NetApp to $78.00 in a research report on Tuesday, August 23rd. Raymond James raised their target price on shares of NetApp from $94.00 to $105.00 in a research report on Thursday, August 25th. JPMorgan Chase & Co. raised their target price on shares of NetApp from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, August 29th. Susquehanna downgraded shares of NetApp from a “positive” rating to a “neutral” rating and decreased their target price for the company from $100.00 to $75.00 in a research report on Monday, September 19th. Finally, StockNews.com downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Wednesday, November 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $86.50.
Insiders Place Their Bets
NetApp Stock Performance
NASDAQ NTAP opened at $74.66 on Thursday. The firm has a 50-day moving average of $67.19 and a 200-day moving average of $68.79. The company has a debt-to-equity ratio of 3.63, a quick ratio of 1.31 and a current ratio of 1.38. The stock has a market cap of $16.23 billion, a PE ratio of 17.86, a P/E/G ratio of 1.88 and a beta of 1.22. NetApp, Inc. has a 52-week low of $60.56 and a 52-week high of $96.82.
NetApp (NASDAQ:NTAP – Get Rating) last posted its earnings results on Wednesday, August 24th. The data storage provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.11. NetApp had a net margin of 14.71% and a return on equity of 128.71%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the company posted $0.99 EPS. NetApp’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts anticipate that NetApp, Inc. will post 4.47 EPS for the current year.
NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, NetApp ElementOS software, and NetApp SANtricity software; and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, and NetApp SolidFire.
- Get a free copy of the StockNews.com research report on NetApp (NTAP)
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