Boston Private Wealth LLC bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 2,907 shares of the data storage provider’s stock, valued at approximately $261,000.
A number of other large investors have also recently made changes to their positions in NTAP. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in NetApp by 13.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 41,248 shares of the data storage provider’s stock worth $3,375,000 after purchasing an additional 4,832 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in NetApp by 3.8% during the second quarter. Rockefeller Capital Management L.P. now owns 22,921 shares of the data storage provider’s stock worth $1,874,000 after purchasing an additional 836 shares in the last quarter. Citigroup Inc. increased its holdings in shares of NetApp by 12.3% in the second quarter. Citigroup Inc. now owns 264,971 shares of the data storage provider’s stock valued at $21,680,000 after buying an additional 28,918 shares in the last quarter. Aviva PLC increased its holdings in shares of NetApp by 2.3% in the second quarter. Aviva PLC now owns 74,774 shares of the data storage provider’s stock valued at $6,118,000 after buying an additional 1,710 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of NetApp by 170.4% in the second quarter. Van ECK Associates Corp now owns 503 shares of the data storage provider’s stock valued at $41,000 after buying an additional 317 shares in the last quarter. 91.66% of the stock is currently owned by hedge funds and other institutional investors.
NTAP has been the topic of several research reports. The Goldman Sachs Group cut NetApp from a “neutral” rating to a “sell” rating and dropped their price target for the company from $85.00 to $81.00 in a report on Monday, October 18th. Susquehanna upped their price target on NetApp from $100.00 to $105.00 and gave the company a “positive” rating in a report on Wednesday, December 1st. Citigroup raised NetApp from a “sell” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Thursday, October 14th. Deutsche Bank Aktiengesellschaft upped their price target on NetApp from $86.00 to $92.00 and gave the company a “hold” rating in a report on Wednesday, December 1st. Finally, Morgan Stanley lowered their price objective on shares of NetApp from $102.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $96.47.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Tuesday, November 30th. The data storage provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.55 billion. NetApp had a net margin of 15.57% and a return on equity of 136.54%. NetApp’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 EPS. On average, equities research analysts expect that NetApp, Inc. will post 4.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 26th. Investors of record on Friday, January 7th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, January 6th. NetApp’s dividend payout ratio is presently 48.54%.
In related news, EVP Matthew K. Fawcett sold 2,062 shares of the company’s stock in a transaction on Tuesday, December 7th. The shares were sold at an average price of $91.00, for a total value of $187,642.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurian sold 4,250 shares of the company’s stock in a transaction on Monday, December 20th. The stock was sold at an average price of $87.02, for a total transaction of $369,835.00. The disclosure for this sale can be found here. Insiders sold 39,749 shares of company stock valued at $3,537,994 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.
NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Volumes ONTAP, NetApp Cloud Sync, NetApp Cloud Secure, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Kubernetes Service, and NetApp Cloud Insights.
Recommended Story: Margin
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).
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.