GHP Investment Advisors Inc. raised its holdings in shares of NetApp Inc. (NASDAQ:NTAP) by 9.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,715 shares of the data storage provider’s stock after buying an additional 4,336 shares during the period. GHP Investment Advisors Inc.’s holdings in NetApp were worth $2,806,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in NetApp by 9.0% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,939 shares of the data storage provider’s stock valued at $960,000 after buying an additional 1,809 shares during the period. Oakview Capital Management L.P. bought a new position in shares of NetApp during the third quarter valued at about $24,533,000. U S Global Investors Inc. raised its stake in shares of NetApp by 52.0% during the third quarter. U S Global Investors Inc. now owns 12,000 shares of the data storage provider’s stock valued at $525,000 after acquiring an additional 4,103 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of NetApp by 34.0% during the third quarter. Ameriprise Financial Inc. now owns 410,708 shares of the data storage provider’s stock valued at $17,973,000 after acquiring an additional 104,321 shares during the last quarter. Finally, Alps Advisors Inc. raised its stake in shares of NetApp by 114.9% during the third quarter. Alps Advisors Inc. now owns 26,842 shares of the data storage provider’s stock valued at $1,175,000 after acquiring an additional 14,354 shares during the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.
Several brokerages have recently commented on NTAP. Pivotal Research set a $62.00 price objective on shares of NetApp and gave the company a “hold” rating in a research note on Wednesday, February 28th. BMO Capital Markets upped their price objective on shares of NetApp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Zacks Investment Research downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Robert W. Baird reaffirmed a “hold” rating on shares of NetApp in a research note on Thursday, November 16th. Finally, Citigroup upped their price objective on shares of NetApp from $53.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen 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 $56.23.
Shares of NetApp Inc. (NASDAQ:NTAP) opened at $64.83 on Wednesday. The firm has a market cap of $17,289.05, a PE ratio of 23.13, a price-to-earnings-growth ratio of 2.05 and a beta of 1.29. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.71. NetApp Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $65.52.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.08. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.49 billion. NetApp had a negative net margin of 0.09% and a positive return on equity of 29.38%. During the same quarter in the prior year, the company earned $0.82 earnings per share. equities analysts expect that NetApp Inc. will post 2.91 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Thursday, April 5th. NetApp’s dividend payout ratio (DPR) is presently -1,000.00%.
In other NetApp news, CEO George Kurian sold 3,826 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $63.01, for a total value of $241,076.26. Following the sale, the chief executive officer now owns 20,637 shares in the company, valued at $1,300,337.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Joel D. Reich sold 6,500 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $55.80, for a total transaction of $362,700.00. Following the completion of the sale, the vice president now owns 3,950 shares in the company, valued at approximately $220,410. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,027 shares of company stock worth $3,653,425. Corporate insiders own 0.47% of the company’s stock.
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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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