Capital International Investors Has $1.71 Billion Stake in NetApp Inc. (NASDAQ:NTAP)

Capital International Investors raised its stake in shares of NetApp Inc. (NASDAQ:NTAP) by 0.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 27,505,863 shares of the data storage provider’s stock after purchasing an additional 23,183 shares during the period. Capital International Investors owned approximately 0.12% of NetApp worth $1,712,240,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Profund Advisors LLC boosted its stake in NetApp by 8.9% during the 4th quarter. Profund Advisors LLC now owns 20,841 shares of the data storage provider’s stock valued at $1,297,000 after purchasing an additional 1,706 shares during the last quarter. Fort Pitt Capital Group LLC boosted its stake in shares of NetApp by 2.6% in the 4th quarter. Fort Pitt Capital Group LLC now owns 470,197 shares of the data storage provider’s stock worth $29,270,000 after buying an additional 12,029 shares during the last quarter. AXA boosted its stake in shares of NetApp by 118.3% in the 4th quarter. AXA now owns 10,569 shares of the data storage provider’s stock worth $659,000 after buying an additional 5,728 shares during the last quarter. Alberta Investment Management Corp purchased a new position in shares of NetApp in the 4th quarter worth approximately $903,000. Finally, Kovitz Investment Group Partners LLC boosted its stake in shares of NetApp by 0.6% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 80,107 shares of the data storage provider’s stock worth $4,987,000 after buying an additional 514 shares during the last quarter. Institutional investors and hedge funds own 95.81% of the company’s stock.

In related news, EVP Henri P. Richard sold 2,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $64.20, for a total value of $160,500.00. Following the completion of the transaction, the executive vice president now directly owns 143,855 shares in the company, valued at $9,235,491. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

NASDAQ:NTAP traded up $3.71 during midday trading on Thursday, hitting $41.40. The company had a trading volume of 1,036,405 shares, compared to its average volume of 3,519,276. NetApp Inc. has a 52-week low of $34.66 and a 52-week high of $78.35. The stock’s fifty day moving average price is $47.76 and its 200-day moving average price is $55.62. The company has a market capitalization of $8.47 billion, a PE ratio of 9.74, a P/E/G ratio of 0.89 and a beta of 1.61. The company has a quick ratio of 1.16, a current ratio of 1.20 and a debt-to-equity ratio of 4.06.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, February 12th. The data storage provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.02). NetApp had a return on equity of 123.49% and a net margin of 18.19%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the firm posted $1.20 earnings per share. The firm’s revenue was down 10.2% on a year-over-year basis. As a group, research analysts forecast that NetApp Inc. will post 3.63 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be given a $0.48 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $1.92 annualized dividend and a yield of 4.64%. NetApp’s dividend payout ratio (DPR) is presently 47.76%.

A number of brokerages have recently weighed in on NTAP. Oppenheimer restated a “hold” rating on shares of NetApp in a research note on Wednesday, February 12th. Wells Fargo & Co cut their target price on NetApp from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. BidaskClub downgraded NetApp from a “hold” rating to a “sell” rating in a research note on Thursday, March 5th. Susquehanna Bancshares restated a “buy” rating and issued a $85.00 target price on shares of NetApp in a research note on Monday, February 10th. Finally, Cowen cut their target price on NetApp from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Thursday, February 13th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $61.70.

About NetApp

NetApp, Inc provides software, systems, and services to manage and share data 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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