Global Financial Private Capital LLC Invests $3.10 Million in NetApp Inc. (NTAP) Stock
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.
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.
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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.
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