Menta Capital LLC Has $1.06 Million Position in NetApp, Inc. (NTAP)
Menta Capital LLC increased its position in NetApp, Inc. (NASDAQ:NTAP) by 149.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,361 shares of the data storage provider’s stock after buying an additional 15,804 shares during the quarter. Menta Capital LLC’s holdings in NetApp were worth $1,056,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of NetApp by 2.4% in the first quarter. Vanguard Group Inc. now owns 26,733,109 shares of the data storage provider’s stock worth $1,118,781,000 after buying an additional 621,932 shares during the period. BlackRock Inc. increased its stake in shares of NetApp by 7.5% in the second quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock worth $867,006,000 after buying an additional 1,517,967 shares during the period. Schroder Investment Management Group increased its stake in shares of NetApp by 10.7% in the first quarter. Schroder Investment Management Group now owns 3,149,828 shares of the data storage provider’s stock worth $131,978,000 after buying an additional 304,535 shares during the period. Geode Capital Management LLC increased its stake in shares of NetApp by 5.7% in the first quarter. Geode Capital Management LLC now owns 3,042,360 shares of the data storage provider’s stock worth $127,165,000 after buying an additional 164,120 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of NetApp by 33.9% in the second quarter. Wells Fargo & Company MN now owns 2,754,400 shares of the data storage provider’s stock worth $110,313,000 after buying an additional 697,819 shares during the period. 92.08% of the stock is currently owned by institutional investors.
In other NetApp news, CEO George Kurian sold 59,697 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $39.93, for a total value of $2,383,701.21. Following the completion of the sale, the chief executive officer now owns 87,295 shares of the company’s stock, valued at $3,485,689.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Henri P. Richard sold 3,952 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $42.20, for a total value of $166,774.40. The disclosure for this sale can be found here. In the last three months, insiders sold 85,202 shares of company stock valued at $3,427,038. Corporate insiders own 0.47% of the company’s stock.
NTAP has been the topic of a number of research analyst reports. Credit Suisse Group boosted their price objective on shares of NetApp from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Longbow Research raised shares of NetApp from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, August 15th. Barclays PLC boosted their price objective on shares of NetApp from $35.00 to $38.00 and gave the company an “underweight” rating in a research report on Thursday, August 17th. BidaskClub downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Drexel Hamilton reissued a “buy” rating and set a $62.00 price objective (up from $60.00) on shares of NetApp in a research report on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $43.89.
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NetApp, Inc. (NTAP) opened at 42.55 on Monday. NetApp, Inc. has a 1-year low of $30.36 and a 1-year high of $45.24. The firm’s 50-day moving average is $40.34 and its 200 day moving average is $40.60. The company has a market cap of $11.48 billion, a PE ratio of 20.55 and a beta of 1.22.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.07. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. Analysts predict that NetApp, Inc. will post $3.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, October 5th. NetApp’s dividend payout ratio is presently 38.65%.
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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