NetApp, Inc. (NTAP) Shares Sold by Argent Capital Management LLC
Argent Capital Management LLC decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 98.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,475 shares of the data storage provider’s stock after selling 825,290 shares during the quarter. Argent Capital Management LLC’s holdings in NetApp were worth $458,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in NTAP. Boston Partners purchased a new position in NetApp in the third quarter worth $315,629,000. Renaissance Technologies LLC raised its position in NetApp by 781.1% in the second quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock worth $133,750,000 after acquiring an additional 2,960,542 shares in the last quarter. Janus Henderson Group PLC raised its position in NetApp by 6,495.7% in the second quarter. Janus Henderson Group PLC now owns 2,312,525 shares of the data storage provider’s stock worth $92,617,000 after acquiring an additional 2,277,464 shares in the last quarter. BlackRock Inc. raised its position in 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 acquiring an additional 1,517,967 shares in the last quarter. Finally, FMR LLC raised its position in NetApp by 89.2% in the second quarter. FMR LLC now owns 3,044,302 shares of the data storage provider’s stock worth $121,924,000 after acquiring an additional 1,435,588 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.
Shares of NetApp, Inc. (NASDAQ:NTAP) opened at $57.78 on Thursday. The company has a market capitalization of $15,628.67, a PE ratio of 22.02, a P/E/G ratio of 1.90 and a beta of 1.28. NetApp, Inc. has a 52-week low of $35.08 and a 52-week high of $58.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.64 and a current ratio of 1.67.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data 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 firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. analysts expect that NetApp, Inc. will post 2.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s dividend payout ratio is presently 34.33%.
In other NetApp news, VP Joel D. Reich sold 15,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $56.99, for a total value of $854,850.00. Following the sale, the vice president now directly owns 441 shares of the company’s stock, valued at approximately $25,132.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO George Kurian sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $52.50, for a total value of $3,937,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,036 shares of company stock valued at $10,171,008. 0.47% of the stock is currently owned by company insiders.
Several research firms have issued reports on NTAP. Stifel Nicolaus reiterated a “hold” rating and issued a $37.00 price objective on shares of NetApp in a research report on Wednesday, August 16th. Susquehanna Bancshares reiterated a “positive” rating and issued a $50.00 price objective (up previously from $48.00) on shares of NetApp in a research report on Wednesday, August 16th. Barclays increased their price objective on NetApp from $35.00 to $38.00 and gave the stock an “underweight” rating in a research report on Thursday, August 17th. Drexel Hamilton restated a “buy” rating and issued a $62.00 price target (up previously from $60.00) on shares of NetApp in a research report on Friday, August 18th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $43.00 price target on shares of NetApp in a research report on Sunday, August 20th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $49.39.
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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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