NetApp, Inc. (NTAP) Shares Sold by ClariVest Asset Management LLC
ClariVest Asset Management LLC cut its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 484,764 shares of the data storage provider’s stock after selling 14,906 shares during the period. ClariVest Asset Management LLC’s holdings in NetApp were worth $19,414,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. BTIM Corp. raised its position in NetApp by 8.0% in the first quarter. BTIM Corp. now owns 113,120 shares of the data storage provider’s stock valued at $4,735,000 after buying an additional 8,358 shares in the last quarter. CAPROCK Group Inc. purchased a new position in NetApp during the first quarter valued at $219,000. Candriam Luxembourg S.C.A. raised its position in NetApp by 5.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 152,561 shares of the data storage provider’s stock valued at $6,385,000 after buying an additional 8,295 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in NetApp during the first quarter valued at $489,000. Finally, Oakbrook Investments LLC raised its position in NetApp by 83.7% in the first quarter. Oakbrook Investments LLC now owns 23,050 shares of the data storage provider’s stock valued at $965,000 after buying an additional 10,500 shares in the last quarter. 91.25% of the stock is currently owned by institutional investors and hedge funds.
NetApp, Inc. (NASDAQ NTAP) opened at 41.49 on Friday. The company’s 50-day moving average price is $41.95 and its 200-day moving average price is $40.60. The company has a market capitalization of $11.27 billion, a P/E ratio of 22.92 and a beta of 1.21. NetApp, Inc. has a 52 week low of $28.32 and a 52 week high of $45.24.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, May 24th. The data storage provider reported $0.86 earnings per share (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 analysts’ expectations of $1.44 billion. During the same period in the prior year, the firm posted $0.55 EPS. NetApp’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that NetApp, Inc. will post $3.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This is a boost from NetApp’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.93%. NetApp’s dividend payout ratio is presently 44.20%.
TRADEMARK VIOLATION NOTICE: “NetApp, Inc. (NTAP) Shares Sold by ClariVest Asset Management LLC” was first reported by Daily Political and is the property of of Daily Political. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.dailypolitical.com/2017/08/12/netapp-inc-ntap-shares-sold-by-clarivest-asset-management-llc.html.
NTAP has been the topic of several recent research reports. BidaskClub raised NetApp from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Credit Suisse Group boosted their price target on NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America Corporation reissued a “neutral” rating and set a $48.00 price target (up from $45.00) on shares of NetApp in a research report on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) raised NetApp from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $47.00 in a research report on Friday, July 14th. Finally, Citigroup Inc. reduced their price target on NetApp from $46.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, May 25th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eleven have assigned a buy rating to the stock. NetApp currently has an average rating of “Hold” and a consensus price target of $41.63.
In other news, SVP Matthew K. Fawcett sold 6,792 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $39.58, for a total value of $268,827.36. Following the completion of the transaction, the senior vice president now directly owns 2,117 shares of the company’s stock, valued at approximately $83,790.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Matthew K. Fawcett sold 8,070 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $39.38, for a total value of $317,796.60. Following the sale, the senior vice president now directly owns 8,367 shares of the company’s stock, valued at $329,492.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,518 shares of company stock valued at $4,726,762. 0.47% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp, Inc. (NASDAQ:NTAP).
Receive News & Ratings for NetApp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.