Pacer Advisors Inc. cut its stake in shares of National Instruments Corp (NASDAQ:NATI) by 4.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 42,961 shares of the technology company’s stock after selling 2,062 shares during the quarter. Pacer Advisors Inc.’s holdings in National Instruments were worth $1,804,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Baillie Gifford & Co. lifted its position in National Instruments by 0.6% during the second quarter. Baillie Gifford & Co. now owns 838,268 shares of the technology company’s stock worth $35,199,000 after acquiring an additional 5,001 shares during the last quarter. Bank of Nova Scotia lifted its position in National Instruments by 5.7% during the second quarter. Bank of Nova Scotia now owns 12,678 shares of the technology company’s stock worth $532,000 after acquiring an additional 678 shares during the last quarter. Veritable L.P. lifted its position in National Instruments by 30.5% during the second quarter. Veritable L.P. now owns 6,425 shares of the technology company’s stock worth $270,000 after acquiring an additional 1,500 shares during the last quarter. Nuveen Asset Management LLC lifted its position in National Instruments by 8,324.4% during the second quarter. Nuveen Asset Management LLC now owns 1,320,435 shares of the technology company’s stock worth $55,445,000 after acquiring an additional 1,304,761 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of National Instruments by 57.5% in the second quarter. JPMorgan Chase & Co. now owns 312,094 shares of the technology company’s stock valued at $12,952,000 after buying an additional 113,877 shares in the last quarter. Hedge funds and other institutional investors own 79.60% of the company’s stock.
NATI has been the subject of a number of analyst reports. BidaskClub downgraded shares of National Instruments from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Zacks Investment Research downgraded shares of National Instruments from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Finally, ValuEngine downgraded shares of National Instruments from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. National Instruments has an average rating of “Hold” and an average price target of $49.33.
National Instruments (NASDAQ:NATI) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). National Instruments had a net margin of 11.22% and a return on equity of 15.03%. The business had revenue of $334.23 million during the quarter, compared to analyst estimates of $339.60 million. Research analysts predict that National Instruments Corp will post 1.3 earnings per share for the current year.
In other news, Director Jeffrey L. Kodosky sold 2,000 shares of National Instruments stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $45.03, for a total value of $90,060.00. Following the completion of the sale, the director now directly owns 346,410 shares in the company, valued at $15,598,842.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 15,500 shares of company stock valued at $663,085. 1.79% of the stock is owned by company insiders.
National Instruments Profile
National Instruments Corporation provides a software-centric platform and systems to engineers and scientists worldwide. Its programming environments software includes LabVIEW, a graphical application software package to visualize hardware configuration, measurement data, and debugging of application; LabWindows/CVI, an ANSI C integrated development environment and engineering toolbox with built-in libraries for measurement, analysis, and engineering UI design; and NI Measurement Studio, a suite of .NET tools designed for building engineering applications in Microsoft Visual Studio to acquire, analyze, and display measurement data.
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