Teachers Retirement System of The State of Kentucky lowered its stake in NetApp Inc. (NASDAQ:NTAP) by 30.0% in the 4th quarter, Holdings Channel reports. The firm owned 160,403 shares of the data storage provider’s stock after selling 68,775 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in NetApp were worth $8,874,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc lifted its position in NetApp by 45.3% in the fourth quarter. IFP Advisors Inc now owns 2,571 shares of the data storage provider’s stock valued at $142,000 after purchasing an additional 801 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of NetApp during the third quarter valued at approximately $131,000. Tower Research Capital LLC TRC raised its holdings in shares of NetApp by 227.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,286 shares of the data storage provider’s stock valued at $182,000 after acquiring an additional 2,282 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of NetApp during the fourth quarter valued at approximately $210,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of NetApp by 559.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,025 shares of the data storage provider’s stock valued at $223,000 after acquiring an additional 3,415 shares in the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.
In other news, CEO George Kurian sold 7,020 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $60.98, for a total value of $428,079.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Joel D. Reich sold 11,641 shares of the stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $60.02, for a total value of $698,692.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,027 shares of company stock worth $3,653,425. Insiders own 0.47% of the company’s stock.
A number of brokerages recently commented on NTAP. Barclays restated an “overweight” rating and set a $56.00 target price (up previously from $52.00) on shares of NetApp in a report on Thursday, November 16th. Zacks Investment Research upgraded NetApp from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday, February 13th. Piper Jaffray Companies restated an “overweight” rating and set a $60.00 target price on shares of NetApp in a report on Thursday, November 16th. Morgan Stanley upgraded NetApp from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $41.00 to $64.00 in a report on Tuesday, January 23rd. Finally, DA Davidson upgraded NetApp from a “neutral” rating to a “buy” rating and set a $66.00 target price for the company in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company. NetApp presently has an average rating of “Hold” and an average target price of $56.23.
Shares of NetApp Inc. (NASDAQ:NTAP) opened at $64.55 on Thursday. NetApp Inc. has a 12 month low of $37.43 and a 12 month high of $65.58. The company has a market capitalization of $17,369.43, a price-to-earnings ratio of 23.24, a PEG ratio of 2.06 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 (NASDAQ:NTAP) last released its earnings results on Wednesday, February 14th. The data storage provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. NetApp had a positive return on equity of 29.38% and a negative net margin of 0.09%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. equities research analysts anticipate that NetApp Inc. will post 2.91 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Friday, April 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. NetApp’s dividend payout ratio is currently -1,000.00%.
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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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