Jensen Investment Management Inc. purchased a new stake in shares of NetApp Inc. (NASDAQ:NTAP) during the second quarter, Holdings Channel reports. The institutional investor purchased 17,290 shares of the data storage provider’s stock, valued at approximately $425,000.

A number of other institutional investors have also recently modified their holdings of NTAP. Cypress Capital Group increased its position in shares of NetApp by 3.4% in the first quarter. Cypress Capital Group now owns 14,900 shares of the data storage provider’s stock valued at $407,000 after buying an additional 495 shares during the last quarter. DNB Asset Management AS increased its position in shares of NetApp by 4.1% in the second quarter. DNB Asset Management AS now owns 17,797 shares of the data storage provider’s stock valued at $438,000 after buying an additional 700 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of NetApp by 7.5% in the second quarter. State of Alaska Department of Revenue now owns 12,519 shares of the data storage provider’s stock valued at $307,000 after buying an additional 868 shares during the last quarter. Hartford Investment Management Co. increased its position in shares of NetApp by 1.3% in the second quarter. Hartford Investment Management Co. now owns 71,993 shares of the data storage provider’s stock valued at $1,770,000 after buying an additional 942 shares during the last quarter. Finally, Pacad Investment Ltd. increased its position in shares of NetApp by 1.2% in the first quarter. Pacad Investment Ltd. now owns 84,849 shares of the data storage provider’s stock valued at $2,316,000 after buying an additional 987 shares during the last quarter. Institutional investors own 89.54% of the company’s stock.

Shares of NetApp Inc. (NASDAQ:NTAP) traded up 0.71% during trading on Thursday, reaching $35.96. 1,797,051 shares of the company’s stock were exchanged. NetApp Inc. has a 52 week low of $20.66 and a 52 week high of $36.10. The stock has a 50 day moving average price of $32.68 and a 200-day moving average price of $27.04. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 32.37 and a beta of 1.56.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 17th. The data storage provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.10. NetApp had a net margin of 5.87% and a return on equity of 15.82%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. Analysts predict that NetApp Inc. will post $2.36 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Friday, October 7th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, October 5th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.11%. NetApp’s dividend payout ratio (DPR) is presently 68.47%.

Several equities analysts recently commented on the stock. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of NetApp in a report on Sunday, May 29th. Summit Redstone reiterated a “sell” rating on shares of NetApp in a report on Tuesday, June 21st. JMP Securities upped their price target on shares of NetApp from $21.00 to $24.00 and gave the company a “market underperform” rating in a report on Thursday, August 18th. Credit Agricole SA upped their target price on shares of NetApp from $24.00 to $32.00 and gave the stock an “underperform” rating in a research note on Thursday, August 18th. Finally, Drexel Hamilton restated a “hold” rating on shares of NetApp in a research note on Wednesday, August 17th. Ten investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have given a buy rating to the company. NetApp presently has an average rating of “Hold” and an average target price of $28.95.

In other news, CEO George Kurian sold 48,176 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $34.87, for a total transaction of $1,679,897.12. Following the transaction, the chief executive officer now directly owns 92,746 shares of the company’s stock, valued at approximately $3,234,053.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director George T. Shaheen sold 30,000 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $35.01, for a total transaction of $1,050,300.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $700,200. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

About NetApp

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.

5 Day Chart for NASDAQ:NTAP

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