Global Financial Private Capital LLC purchased a new stake in shares of NetApp Inc. (NASDAQ:NTAP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 36,120 shares of the data storage provider’s stock, valued at approximately $3,102,000.

A number of other hedge funds have also recently added to or reduced their stakes in NTAP. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in NetApp during the third quarter valued at $161,995,000. Renaissance Technologies LLC grew its position in NetApp by 270.0% during the second quarter. Renaissance Technologies LLC now owns 2,332,932 shares of the data storage provider’s stock valued at $183,205,000 after buying an additional 1,702,432 shares during the period. American Century Companies Inc. lifted its holdings in NetApp by 8,411.2% during the second quarter. American Century Companies Inc. now owns 1,696,205 shares of the data storage provider’s stock valued at $133,203,000 after purchasing an additional 1,676,276 shares in the last quarter. Bank of Montreal Can purchased a new position in NetApp during the second quarter valued at $111,089,000. Finally, Janus Henderson Group PLC lifted its holdings in NetApp by 388.7% during the second quarter. Janus Henderson Group PLC now owns 1,375,800 shares of the data storage provider’s stock valued at $108,044,000 after purchasing an additional 1,094,273 shares in the last quarter. Institutional investors own 95.52% of the company’s stock.

NASDAQ:NTAP opened at $81.66 on Friday. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $21.47 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.50 and a beta of 1.38. NetApp Inc. has a twelve month low of $45.24 and a twelve month high of $88.08.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 15th. The data storage provider reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.24. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.42 billion. NetApp had a net margin of 3.68% and a return on equity of 41.75%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.62 earnings per share. On average, research analysts anticipate that NetApp Inc. will post 3.92 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Thursday, October 4th. NetApp’s dividend payout ratio is currently 53.51%.

NTAP has been the topic of several recent analyst reports. Susquehanna Bancshares downgraded shares of NetApp from a “positive” rating to a “neutral” rating in a report on Tuesday, October 23rd. Morgan Stanley increased their price objective on shares of NetApp from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, August 16th. BMO Capital Markets increased their price objective on shares of NetApp from $75.00 to $90.00 and gave the company an “in-line” rating in a report on Thursday, August 16th. BidaskClub downgraded shares of NetApp from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Finally, Lake Street Capital decreased their price objective on shares of NetApp from $88.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $81.17.

In other news, CEO George Kurian sold 6,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $78.35, for a total value of $470,100.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Henri P. Richard sold 2,525 shares of the firm’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $79.60, for a total transaction of $200,990.00. Following the completion of the transaction, the executive vice president now directly owns 70,732 shares in the company, valued at $5,630,267.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,451 shares of company stock worth $10,579,434. Insiders own 0.19% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this report on another publication, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this report can be viewed at https://www.dailypolitical.com/2018/11/10/global-financial-private-capital-llc-invests-3-10-million-in-netapp-inc-ntap-stock.html.

About NetApp

NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

Featured Story: Price to Earnings Ratio (PE)

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).

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.