Nordea Investment Management AB Has $6.37 Million Stake in NetApp, Inc. (NTAP)
Nordea Investment Management AB grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 4.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 145,489 shares of the data storage provider’s stock after acquiring an additional 6,696 shares during the period. Nordea Investment Management AB owned about 0.05% of NetApp worth $6,367,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in NTAP. Louisiana State Employees Retirement System raised its stake in shares of NetApp by 0.6% during 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 acquiring an additional 100 shares during the last quarter. Strs Ohio raised its stake in shares of NetApp by 8.2% during the second quarter. Strs Ohio now owns 36,150 shares of the data storage provider’s stock valued at $1,447,000 after acquiring an additional 2,737 shares during the last quarter. NGAM Advisors L.P. raised its stake in shares of NetApp by 5.4% during the second quarter. NGAM Advisors L.P. now owns 72,981 shares of the data storage provider’s stock valued at $2,923,000 after acquiring an additional 3,735 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of NetApp by 14.5% during the second quarter. Janney Montgomery Scott LLC now owns 23,399 shares of the data storage provider’s stock valued at $937,000 after acquiring an additional 2,971 shares during the last quarter. Finally, Eagle Global Advisors LLC bought a new position in shares of NetApp during the second quarter valued at $210,000. 93.93% of the stock is owned by hedge funds and other institutional investors.
NetApp, Inc. (NASDAQ NTAP) traded down $0.10 during trading hours on Friday, reaching $56.41. 4,081,015 shares of the company’s stock were exchanged, compared to its average volume of 3,275,549. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64. The firm has a market capitalization of $15,076.40, a PE ratio of 21.24, a price-to-earnings-growth ratio of 1.83 and a beta of 1.27. NetApp, Inc. has a 1-year low of $34.72 and a 1-year high of $57.75.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $0.60 earnings per share. research analysts forecast that NetApp, Inc. will post 2.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Thursday, January 4th. NetApp’s payout ratio is 34.33%.
NTAP has been the subject of several analyst reports. Longbow Research raised shares of NetApp from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, August 15th. Piper Jaffray Companies set a $50.00 price target on shares of NetApp and gave the company a “buy” rating in a research note on Monday, August 14th. Maxim Group raised shares of NetApp from a “hold” rating to a “buy” rating and raised their price target for the company from $46.00 to $56.00 in a research note on Monday, August 14th. Lake Street Capital lifted their target price on shares of NetApp from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Finally, Drexel Hamilton reissued a “buy” rating and set a $62.00 target price (up previously from $60.00) on shares of NetApp in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $49.04.
In other NetApp news, Director Richard P. Wallace sold 34,000 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $43.53, for a total value of $1,480,020.00. Following the completion of the sale, the director now directly owns 24,132 shares in the company, valued at $1,050,465.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joel D. Reich sold 3,371 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $53.17, for a total transaction of $179,236.07. The disclosure for this sale can be found here. Insiders sold 185,060 shares of company stock valued at $9,205,680 over the last 90 days. Corporate insiders own 0.47% of the company’s stock.
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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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