NetApp, Inc. (NTAP) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS
Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,130 shares of the data storage provider’s stock after buying an additional 31 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in NetApp were worth $806,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in NTAP. American Beacon Advisors Inc. acquired a new position in NetApp during the 1st quarter valued at about $110,000. Cambridge Investment Research Advisors Inc. increased its stake in NetApp by 3.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,189 shares of the data storage provider’s stock valued at $208,000 after buying an additional 185 shares during the period. Eagle Global Advisors LLC acquired a new position in NetApp during the 2nd quarter valued at about $210,000. CAPROCK Group Inc. increased its stake in NetApp by 0.8% during the 2nd quarter. CAPROCK Group Inc. now owns 5,278 shares of the data storage provider’s stock valued at $211,000 after buying an additional 44 shares during the period. Finally, Pitcairn Co. acquired a new position in NetApp during the 2nd quarter valued at about $211,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on NTAP shares. Drexel Hamilton restated a “buy” rating and set a $62.00 price objective on shares of NetApp in a research report on Wednesday, May 24th. Goldman Sachs Group, Inc. (The) upgraded shares of NetApp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $46.00 to $47.00 in a research report on Friday, July 14th. BidaskClub upgraded shares of NetApp from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Maxim Group upgraded shares of NetApp from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $56.00 in a research report on Monday, August 14th. Finally, Piper Jaffray Companies set a $50.00 price objective on shares of NetApp and gave the company a “buy” rating in a research report on Monday, August 14th. Three equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $43.70.
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In other news, CEO George Kurian sold 4,570 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $37.98, for a total transaction of $173,568.60. Following the sale, the chief executive officer now owns 23,028 shares in the company, valued at approximately $874,603.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Joel D. Reich sold 9,031 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $39.81, for a total value of $359,524.11. Following the sale, the vice president now owns 10,902 shares in the company, valued at approximately $434,008.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,226 shares of company stock valued at $3,344,026. Insiders own 0.47% of the company’s stock.
NetApp, Inc. (NTAP) opened at 40.64 on Friday. The company has a market cap of $10.96 billion, a price-to-earnings ratio of 19.62 and a beta of 1.22. The company’s 50-day moving average is $40.55 and its 200 day moving average is $40.65. NetApp, Inc. has a 12 month low of $30.36 and a 12 month high of $45.24.
NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.07. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm posted $0.46 EPS. The business’s revenue was up 2.4% on a year-over-year basis. Equities analysts forecast that NetApp, Inc. will post $3.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, October 5th. NetApp’s dividend payout ratio (DPR) is currently 38.65%.
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.
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