Crossmark Global Holdings Inc. acquired a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,906 shares of the data storage provider’s stock, valued at approximately $915,000.
Several other large investors also recently added to or reduced their stakes in NTAP. Teachers Advisors LLC grew its stake in shares of NetApp by 3.6% in the first quarter. Teachers Advisors LLC now owns 451,826 shares of the data storage provider’s stock valued at $18,909,000 after acquiring an additional 15,496 shares in the last quarter. Capstone Asset Management Co. grew its stake in shares of NetApp by 3.8% in the second quarter. Capstone Asset Management Co. now owns 20,741 shares of the data storage provider’s stock valued at $831,000 after acquiring an additional 753 shares in the last quarter. Bank of Montreal Can grew its stake in shares of NetApp by 6.0% in the second quarter. Bank of Montreal Can now owns 189,736 shares of the data storage provider’s stock valued at $7,600,000 after acquiring an additional 10,767 shares in the last quarter. NN Investment Partners Holdings N.V. grew its stake in shares of NetApp by 41.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 57,567 shares of the data storage provider’s stock valued at $2,305,000 after acquiring an additional 16,887 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of NetApp by 19.7% in the second quarter. State of Alaska Department of Revenue now owns 14,000 shares of the data storage provider’s stock valued at $560,000 after acquiring an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.
Several equities analysts recently commented on NTAP shares. Morgan Stanley restated an “underweight” rating on shares of NetApp in a research note on Saturday, September 23rd. DA Davidson restated 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 company 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 objective for the company in a research report on Wednesday, October 4th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of NetApp in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $45.65.
In other NetApp news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.01, for a total transaction of $83,011.76. Following the completion of the transaction, the executive vice president now owns 17,812 shares of the company’s stock, valued at approximately $748,282.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George Kurian sold 4,570 shares of NetApp stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $37.98, for a total value of $173,568.60. Following the transaction, the chief executive officer now directly owns 23,028 shares of the company’s stock, valued at approximately $874,603.44. The disclosure for this sale can be found here. In the last three months, insiders sold 44,498 shares of company stock valued at $1,911,496. 0.47% of the stock is currently owned by insiders.
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Shares of NetApp, Inc. (NTAP) opened at $46.34 on Friday. NetApp, Inc. has a twelve month low of $33.26 and a twelve month high of $47.20. The firm has a market capitalization of $12,500.59, a PE ratio of 19.47, a P/E/G ratio of 1.63 and a beta of 1.16. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.27.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.07. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. analysts forecast that NetApp, Inc. will post 2.49 earnings per share for the current year.
The company also recently disclosed 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 annualized dividend and a yield of 1.73%. The ex-dividend date was Thursday, October 5th. NetApp’s dividend payout ratio (DPR) is currently 38.65%.
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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