M&R Capital Management Inc. bought a new stake in NetApp Inc. (NASDAQ:NTAP) in the third quarter, HoldingsChannel reports. The firm bought 4,040 shares of the data storage provider’s stock, valued at approximately $346,000.

Several other hedge funds and other institutional investors have also modified their holdings of NTAP. CENTRAL TRUST Co raised its position in shares of NetApp by 589.7% in the third quarter. CENTRAL TRUST Co now owns 1,276 shares of the data storage provider’s stock valued at $110,000 after buying an additional 1,091 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of NetApp by 16,433.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,488 shares of the data storage provider’s stock valued at $116,000 after buying an additional 1,479 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of NetApp in the third quarter valued at about $182,000. Checchi Capital Advisers LLC purchased a new stake in shares of NetApp in the third quarter valued at about $201,000. Finally, Greenleaf Trust purchased a new stake in shares of NetApp in the second quarter valued at about $206,000. Institutional investors and hedge funds own 95.59% of the company’s stock.

NTAP stock traded down $2.75 during mid-day trading on Monday, hitting $69.14. 32,259 shares of the company were exchanged, compared to its average volume of 3,652,993. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.65 and a quick ratio of 1.63. The firm has a market cap of $18.64 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 1.28 and a beta of 1.38. NetApp Inc. has a 12-month low of $52.00 and a 12-month high of $88.08.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, November 14th. The data storage provider reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.51 billion. NetApp had a net margin of 4.70% and a return on equity of 51.50%. NetApp’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. Sell-side analysts anticipate that NetApp Inc. will post 3.94 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Friday, January 4th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, January 3rd. NetApp’s dividend payout ratio (DPR) is presently 53.51%.

In other NetApp news, CEO George Kurian sold 6,000 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $86.61, for a total transaction of $519,660.00. Following the completion of the transaction, the chief executive officer now owns 70,147 shares of the company’s stock, valued at $6,075,431.67. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Henri P. Richard sold 2,525 shares of the stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $76.99, for a total transaction of $194,399.75. Following the transaction, the executive vice president now directly owns 65,907 shares of the company’s stock, valued at approximately $5,074,179.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,280 shares of company stock valued at $7,384,832. 0.19% of the stock is currently owned by insiders.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of NetApp from a “hold” rating to a “strong-buy” rating and set a $88.00 price objective for the company in a report on Friday, October 26th. ValuEngine lowered shares of NetApp from a “buy” rating to a “hold” rating in a report on Friday. Maxim Group dropped their price objective on shares of NetApp from $91.00 to $89.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley upped their price objective on shares of NetApp from $70.00 to $72.00 and gave the company a “weight” rating in a report on Thursday. Finally, DA Davidson set a $100.00 price objective on shares of NetApp and gave the company a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $82.30.

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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.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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