Afam Capital Inc. grew its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 139.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 19,009 shares of the data storage provider’s stock after purchasing an additional 11,063 shares during the quarter. Afam Capital Inc.’s holdings in NetApp were worth $832,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Exane Derivatives increased its position in shares of NetApp by 59,850.0% during the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after purchasing an additional 2,394 shares during the period. First Personal Financial Services increased its position in shares of NetApp by 27,540.0% during the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock valued at $121,000 after purchasing an additional 2,754 shares during the period. Krilogy Financial LLC acquired a new position in shares of NetApp during the 2nd quarter valued at $122,000. Quantbot Technologies LP acquired a new position in shares of NetApp during the 3rd quarter valued at $131,000. Finally, FTB Advisors Inc. increased its position in shares of NetApp by 50.2% during the 3rd quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock valued at $199,000 after purchasing an additional 1,519 shares during the period. Institutional investors own 94.97% of the company’s stock.
Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on NetApp from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Susquehanna Bancshares reiterated a “positive” rating and set a $50.00 price target (up from $48.00) on shares of NetApp in a research report on Wednesday, August 16th. Drexel Hamilton reiterated a “buy” rating and set a $62.00 price target (up from $60.00) on shares of NetApp in a research report on Friday, August 18th. FBN Securities reiterated an “outperform” rating on shares of NetApp in a research report on Sunday, August 20th. Finally, Raymond James Financial restated a “market perform” rating on shares of NetApp in a report on Sunday, August 20th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $49.39.
Shares of NetApp, Inc. (NASDAQ:NTAP) opened at $57.80 on Wednesday. The company has a market capitalization of $15,543.29, a price-to-earnings ratio of 21.90, a PEG ratio of 1.89 and a beta of 1.28. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. NetApp, Inc. has a 12-month low of $35.08 and a 12-month high of $58.99.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.12. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. NetApp’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. research analysts expect that NetApp, Inc. will post 2.72 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be given a $0.20 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. NetApp’s dividend payout ratio (DPR) is presently 34.33%.
In other news, EVP Henri P. Richard sold 1,976 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $42.01, for a total value of $83,011.76. Following the completion of the sale, the executive vice president now owns 17,812 shares of the company’s stock, valued at $748,282.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard P. Wallace sold 34,000 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $43.53, for a total value of $1,480,020.00. Following the completion of the sale, the director now directly owns 24,132 shares of the company’s stock, valued at approximately $1,050,465.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,036 shares of company stock valued at $10,171,008. 0.47% of the stock is currently owned by insiders.
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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