Advisor Partners LLC Has $274,000 Position in NetApp, Inc. (NASDAQ:NTAP)
Advisor Partners LLC cut its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 4.3% during the second quarter, Holdings Channel reports. The fund owned 6,840 shares of the data storage provider’s stock after selling 305 shares during the period. Advisor Partners LLC’s holdings in NetApp were worth $274,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. CAPROCK Group Inc. raised its position in NetApp by 0.8% in the second quarter. CAPROCK Group Inc. now owns 5,278 shares of the data storage provider’s stock worth $211,000 after buying an additional 44 shares in the last quarter. Contravisory Investment Management Inc. increased its position in NetApp by 0.6% in the second quarter. Contravisory Investment Management Inc. now owns 7,059 shares of the data storage provider’s stock valued at $283,000 after buying an additional 45 shares during the last quarter. Breton Hill Capital Ltd. increased its position in NetApp by 0.3% in the second quarter. Breton Hill Capital Ltd. now owns 17,290 shares of the data storage provider’s stock valued at $692,000 after buying an additional 59 shares during the last quarter. Louisiana State Employees Retirement System increased its position in NetApp by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider’s stock valued at $673,000 after buying an additional 100 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its position in NetApp by 0.8% in the first quarter. Jaffetilchin Investment Partners LLC now owns 14,713 shares of the data storage provider’s stock valued at $616,000 after buying an additional 118 shares during the last quarter. 91.25% of the stock is owned by institutional investors and hedge funds.
NetApp, Inc. (NASDAQ NTAP) opened at 41.49 on Friday. The company has a 50-day moving average of $41.95 and a 200-day moving average of $40.60. NetApp, Inc. has a 52-week low of $28.32 and a 52-week high of $45.24. The company has a market cap of $11.27 billion, a P/E ratio of 22.92 and a beta of 1.21.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, May 24th. The data storage provider reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.04. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.44 billion. NetApp had a net margin of 9.22% and a return on equity of 21.66%. NetApp’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 EPS. On average, equities research analysts expect that NetApp, Inc. will post $3.03 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Wednesday, July 5th. This is a positive change from NetApp’s previous quarterly dividend of $0.19. NetApp’s payout ratio is 44.20%.
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NTAP has been the topic of several research reports. Zacks Investment Research upgraded shares of NetApp from a “sell” rating to a “hold” rating in a report on Monday, May 8th. FBN Securities raised shares of NetApp from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $45.00 to $50.00 in a research note on Thursday, May 25th. Stifel Nicolaus reissued a “hold” rating and issued a $37.00 target price on shares of NetApp in a research note on Friday, May 26th. Barclays PLC reissued a “sell” rating and issued a $35.00 target price (down previously from $38.00) on shares of NetApp in a research note on Thursday, May 25th. Finally, Credit Suisse Group raised shares of NetApp from an “underperform” rating to a “neutral” rating and upped their target price for the company from $35.00 to $37.00 in a research note on Thursday, May 25th. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $41.63.
In other NetApp news, CEO George Kurian sold 4,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $40.12, for a total transaction of $160,480.00. Following the completion of the sale, the chief executive officer now owns 65,123 shares in the company, valued at approximately $2,612,734.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $43.41, for a total transaction of $85,778.16. Following the sale, the executive vice president now owns 19,788 shares of the company’s stock, valued at approximately $858,997.08. The disclosure for this sale can be found here. Insiders have sold a total of 117,518 shares of company stock valued at $4,726,762 in the last 90 days. 0.47% of the stock is currently owned by company insiders.
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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