Marco Investment Management LLC trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 15.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,900 shares of the data storage provider’s stock after selling 3,000 shares during the quarter. Marco Investment Management LLC’s holdings in NetApp were worth $696,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of NetApp by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,214,474 shares of the data storage provider’s stock worth $1,089,939,000 after purchasing an additional 481,365 shares during the period. BlackRock Inc. boosted its position in shares of NetApp by 7.5% in the second quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock worth $867,006,000 after purchasing an additional 1,517,967 shares during the period. Boston Partners bought a new position in shares of NetApp in the third quarter worth approximately $315,629,000. Bank of New York Mellon Corp boosted its position in shares of NetApp by 25.2% in the third quarter. Bank of New York Mellon Corp now owns 4,061,906 shares of the data storage provider’s stock worth $177,748,000 after purchasing an additional 817,147 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of NetApp by 781.1% in the second quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock worth $133,750,000 after purchasing an additional 2,960,542 shares during the period. Institutional investors own 94.97% of the company’s stock.
A number of research firms have weighed in on NTAP. Citigroup upped their price target on shares of NetApp from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Susquehanna Bancshares reiterated a “positive” rating and issued a $50.00 price target (up from $48.00) on shares of NetApp in a research report on Wednesday, August 16th. Piper Jaffray Companies set a $50.00 price target on shares of NetApp and gave the stock a “buy” rating in a research report on Monday, August 14th. Drexel Hamilton reiterated a “buy” rating and issued a $62.00 price target (up from $60.00) on shares of NetApp in a research report on Friday, August 18th. Finally, FBN Securities reiterated an “outperform” rating on shares of NetApp in a research report on Sunday, August 20th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.39.
NetApp, Inc. (NASDAQ NTAP) opened at $58.58 on Tuesday. NetApp, Inc. has a 1-year low of $35.08 and a 1-year high of $58.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64. The company has a market cap of $15,540.00, a price-to-earnings ratio of 21.90, a PEG ratio of 1.89 and a beta of 1.29.
NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. research analysts expect that NetApp, Inc. will post 2.72 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s payout ratio is 34.33%.
In related news, VP Joel D. Reich sold 15,000 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $56.99, for a total transaction of $854,850.00. Following the sale, the vice president now owns 441 shares of the company’s stock, valued at $25,132.59. The transaction was disclosed in a legal 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 sale, the director now directly owns 24,132 shares in the company, valued at approximately $1,050,465.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,036 shares of company stock worth $10,171,008. 0.47% of the stock is owned by insiders.
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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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