NetApp, Inc. (NTAP) Shares Sold by Chase Investment Counsel Corp
Chase Investment Counsel Corp reduced its stake in NetApp, Inc. (NASDAQ:NTAP) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,619 shares of the data storage provider’s stock after selling 181 shares during the period. Chase Investment Counsel Corp’s holdings in NetApp were worth $825,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in NetApp by 1,529.1% in the first quarter. BlackRock Inc. now owns 20,130,070 shares of the data storage provider’s stock valued at $842,443,000 after buying an additional 18,894,401 shares during the period. Wells Fargo & Company MN increased its position in NetApp by 569.8% in the first quarter. Wells Fargo & Company MN now owns 2,056,581 shares of the data storage provider’s stock valued at $86,067,000 after buying an additional 1,749,553 shares during the period. FMR LLC increased its position in NetApp by 397.8% in the first quarter. FMR LLC now owns 1,608,714 shares of the data storage provider’s stock valued at $67,325,000 after buying an additional 1,285,545 shares during the period. Nomura Asset Management Co. Ltd. increased its position in NetApp by 3,230.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 1,202,818 shares of the data storage provider’s stock valued at $50,338,000 after buying an additional 1,166,701 shares during the period. Finally, Argent Capital Management LLC bought a new position in NetApp during the first quarter valued at approximately $35,709,000. 91.36% of the stock is currently owned by hedge funds and other institutional investors.
NetApp, Inc. (NASDAQ:NTAP) traded down 1.45% during mid-day trading on Wednesday, hitting $44.11. 1,329,619 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $40.22 and its 200-day moving average price is $39.95. The stock has a market cap of $11.99 billion, a PE ratio of 24.37 and a beta of 1.19. NetApp, Inc. has a one year low of $25.82 and a one year high of $45.24.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, May 24th. The data storage provider reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. NetApp had a return on equity of 21.66% and a net margin of 9.22%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the company posted $0.55 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts forecast that NetApp, Inc. will post $3.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This is an increase from NetApp’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.79%. NetApp’s payout ratio is currently 44.20%.
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NTAP has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of NetApp from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. BidaskClub downgraded shares of NetApp from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Drexel Hamilton reaffirmed a “buy” rating on shares of NetApp in a research note on Monday, April 3rd. Royal Bank Of Canada reaffirmed a “hold” rating on shares of NetApp in a research note on Friday, April 28th. Finally, OTR Global raised shares of NetApp to a “positive” rating in a research note on Monday, May 15th. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $41.52.
In other news, EVP Henri P. Richard sold 3,952 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $42.20, for a total transaction of $166,774.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George Kurian sold 4,000 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $40.01, for a total value of $160,040.00. Following the transaction, the chief executive officer now directly owns 20,396 shares of the company’s stock, valued at $816,043.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,542 shares of company stock valued at $4,626,344. Corporate insiders own 0.49% of the company’s stock.
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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