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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. increased its position in shares of NetApp by 58.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,192,099 shares of the data storage provider’s stock valued at $32,532,000 after buying an additional 441,417 shares during the last quarter. Legal & General Group Plc increased its position in shares of NetApp by 0.6% in the first quarter. Legal & General Group Plc now owns 1,320,761 shares of the data storage provider’s stock worth $36,042,000 after buying an additional 8,301 shares in the last quarter. Geode Capital Management LLC increased its position in shares of NetApp by 1.6% in the first quarter. Geode Capital Management LLC now owns 2,781,488 shares of the data storage provider’s stock worth $75,775,000 after buying an additional 43,931 shares in the last quarter. Creative Planning increased its position in shares of NetApp by 248.6% in the second quarter. Creative Planning now owns 10,495 shares of the data storage provider’s stock worth $258,000 after buying an additional 7,484 shares in the last quarter. Finally, National Pension Service increased its position in shares of NetApp by 4.4% in the first quarter. National Pension Service now owns 225,705 shares of the data storage provider’s stock worth $6,159,000 after buying an additional 9,591 shares in the last quarter. 89.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NetApp Inc. (NASDAQ:NTAP) traded up 0.71% during mid-day trading on Thursday, reaching $35.96. 1,797,051 shares of the company’s stock traded hands. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of 32.37 and a beta of 1.56. NetApp Inc. has a 12-month low of $20.66 and a 12-month 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.

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Friday, October 7th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, October 5th. NetApp’s dividend payout ratio is 68.47%.

A number of research analysts have recently issued reports on the company. Susquehanna boosted their price objective on NetApp from $36.00 to $42.00 and gave the company a “positive” rating in a research note on Wednesday. Robert W. Baird reissued a “hold” rating on shares of NetApp in a research note on Friday, September 9th. Credit Suisse Group AG reissued a “hold” rating and issued a $28.00 price objective on shares of NetApp in a research note on Tuesday, August 30th. Goldman Sachs Group Inc. raised NetApp from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $26.00 to $32.00 in a research note on Wednesday, August 24th. They noted that the move was a valuation call. Finally, BMO Capital Markets reissued a “hold” rating and issued a $31.00 price objective on shares of NetApp in a research note on Sunday, August 21st. Ten equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have issued a buy rating to the company’s stock. The company 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 dated 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 sale, the chief executive officer now directly owns 92,746 shares in the company, valued at approximately $3,234,053.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joel D. Reich sold 2,241 shares of the company’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $24.35, for a total transaction of $54,568.35. Following the sale, the vice president now owns 489 shares in the company, valued at $11,907.15. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

NetApp Company Profile

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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