Koch Industries Inc. Invests $286,000 in NetApp, Inc. (NTAP)

Koch Industries Inc. acquired a new stake in NetApp, Inc. (NASDAQ:NTAP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 293,590 shares of the data storage provider’s stock, valued at approximately $286,000. Koch Industries Inc. owned approximately 0.11% of NetApp at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Krilogy Financial LLC bought a new position in shares of NetApp in the second quarter valued at approximately $122,000. Nomura Holdings Inc. boosted its holdings in shares of NetApp by 210.7% in the second quarter. Nomura Holdings Inc. now owns 38,640 shares of the data storage provider’s stock valued at $1,549,000 after acquiring an additional 26,202 shares in the last quarter. PVG Asset Management Corp bought a new position in shares of NetApp in the second quarter valued at approximately $2,723,000. The Manufacturers Life Insurance Company boosted its holdings in shares of NetApp by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 332,509 shares of the data storage provider’s stock valued at $13,317,000 after acquiring an additional 2,034 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of NetApp by 158.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,729,202 shares of the data storage provider’s stock valued at $69,255,000 after acquiring an additional 1,061,297 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

NTAP has been the subject of several recent analyst reports. Morgan Stanley reiterated an “underweight” rating on shares of NetApp in a report on Saturday, September 23rd. Credit Suisse Group increased their price objective on shares of NetApp from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. DA Davidson reiterated a “buy” rating and issued a $51.00 price objective on shares of NetApp in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Wednesday, October 4th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of NetApp in a report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and thirteen have given a buy rating to the stock. NetApp presently has an average rating of “Hold” and a consensus target price of $45.12.

COPYRIGHT VIOLATION WARNING: This story was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright law. The original version of this story can be read at https://ledgergazette.com/2017/10/19/koch-industries-inc-invests-286000-in-netapp-inc-ntap.html.

NetApp, Inc. (NTAP) opened at 44.11 on Thursday. NetApp, Inc. has a 1-year low of $30.36 and a 1-year high of $45.24. The company has a 50-day moving average of $42.02 and a 200-day moving average of $40.90. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 21.30 and a beta of 1.26.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $0.46 earnings per share. The company’s quarterly 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.79%. The ex-dividend date is Thursday, October 5th. NetApp’s dividend payout ratio (DPR) is currently 38.65%.

In other NetApp news, CEO George Kurian sold 4,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $43.67, for a total value of $174,680.00. Following the transaction, the chief executive officer now directly owns 27,598 shares in the company, valued at $1,205,204.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard P. Wallace sold 34,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 24,132 shares in the company, valued at $

Several other institutional investors also recently bought and sold shares of the company. Krilogy Financial LLC bought a new position in shares of NetApp in the second quarter valued at approximately $122,000. Nomura Holdings Inc. boosted its holdings in shares of NetApp by 210.7% in the second quarter. Nomura Holdings Inc. now owns 38,640 shares of the data storage provider’s stock valued at $1,549,000 after acquiring an additional 26,202 shares in the last quarter. PVG Asset Management Corp bought a new position in shares of NetApp in the second quarter valued at approximately $2,723,000. The Manufacturers Life Insurance Company boosted its holdings in shares of NetApp by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 332,509 shares of the data storage provider’s stock valued at $13,317,000 after acquiring an additional 2,034 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of NetApp by 158.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,729,202 shares of the data storage provider’s stock valued at $69,255,000 after acquiring an additional 1,061,297 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

NTAP has been the subject of several recent analyst reports. Morgan Stanley reiterated an “underweight” rating on shares of NetApp in a report on Saturday, September 23rd. Credit Suisse Group increased their price objective on shares of NetApp from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. DA Davidson reiterated a “buy” rating and issued a $51.00 price objective on shares of NetApp in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Wednesday, October 4th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of NetApp in a report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and thirteen have given a buy rating to the stock. NetApp presently has an average rating of “Hold” and a consensus target price of $45.12.

COPYRIGHT VIOLATION WARNING: This story was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright law. The original version of this story can be read at https://ledgergazette.com/2017/10/19/koch-industries-inc-invests-286000-in-netapp-inc-ntap.html.

NetApp, Inc. (NTAP) opened at 44.11 on Thursday. NetApp, Inc. has a 1-year low of $30.36 and a 1-year high of $45.24. The company has a 50-day moving average of $42.02 and a 200-day moving average of $40.90. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 21.30 and a beta of 1.26.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $0.46 earnings per share. The company’s quarterly 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.79%. The ex-dividend date is Thursday, October 5th. NetApp’s dividend payout ratio (DPR) is currently 38.65%.

In other NetApp news, CEO George Kurian sold 4,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $43.67, for a total value of $174,680.00. Following the transaction, the chief executive officer now directly owns 27,598 shares in the company, valued at $1,205,204.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard P. Wallace sold 34,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 24,132 shares in the company, valued at $1,050,465.96. The disclosure for this sale can be found here. Insiders have sold 48,498 shares of company stock worth $2,083,785 over the last ninety days. Insiders own 0.47% of the company’s stock.

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.

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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