Janus Henderson Group PLC decreased its position in shares of NetApp Inc. (NASDAQ:NTAP) by 67.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 746,739 shares of the data storage provider’s stock after selling 1,565,786 shares during the quarter. Janus Henderson Group PLC owned approximately 0.28% of NetApp worth $32,678,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Chevy Chase Trust Holdings Inc. grew its holdings in NetApp by 0.8% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 235,427 shares of the data storage provider’s stock valued at $10,302,000 after purchasing an additional 1,850 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in NetApp in the 3rd quarter valued at about $2,991,000. Allianz Asset Management GmbH boosted its position in NetApp by 12.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,812,288 shares of the data storage provider’s stock valued at $123,066,000 after buying an additional 317,489 shares during the period. King Luther Capital Management Corp purchased a new stake in shares of NetApp in the 3rd quarter worth approximately $1,691,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of NetApp by 213.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 115,648 shares of the data storage provider’s stock worth $5,082,000 after purchasing an additional 78,740 shares during the period. Institutional investors own 94.71% of the company’s stock.
In other NetApp news, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $44.62, for a total value of $88,169.12. Following the transaction, the executive vice president now directly owns 13,860 shares in the company, valued at approximately $618,433.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 75,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $52.50, for a total transaction of $3,937,500.00. The disclosure for this sale can be found here. Insiders sold a total of 197,604 shares of company stock worth $10,389,277 over the last quarter. Insiders own 0.47% of the company’s stock.
NetApp Inc. (NTAP) traded up $0.96 during trading hours on Friday, hitting $62.77. 2,510,505 shares of the stock were exchanged, compared to its average volume of 2,587,355. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.64 and a current ratio of 1.67. NetApp Inc. has a fifty-two week low of $35.41 and a fifty-two week high of $62.80. The firm has a market cap of $16,700.00, a PE ratio of 26.94, a PEG ratio of 1.91 and a beta of 1.29.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company posted $0.60 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. analysts forecast that NetApp Inc. will post 2.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. NetApp’s dividend payout ratio is presently 34.33%.
Several research analysts recently commented on NTAP shares. Royal Bank of Canada restated a “hold” rating and set a $60.00 price target on shares of NetApp in a research note on Monday, December 11th. ValuEngine lowered shares of NetApp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. BMO Capital Markets upgraded shares of NetApp from a “market perform” rating to an “outperform” rating in a research note on Sunday, November 26th. UBS Group reissued a “buy” rating and set a $62.00 price target (up from $52.00) on shares of NetApp in a report on Wednesday, November 22nd. Finally, Argus increased their price target on shares of NetApp from $46.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 17th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $50.15.
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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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