NN Investment Partners Holdings N.V. Has $1.702 Million Stake in NetApp Inc. (NTAP)
NN Investment Partners Holdings N.V. decreased its position in NetApp Inc. (NASDAQ:NTAP) by 11.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,680 shares of the data storage provider’s stock after selling 5,482 shares during the period. NN Investment Partners Holdings N.V.’s holdings in NetApp were worth $1,702,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Carroll Financial Associates Inc. bought a new stake in shares of NetApp during the first quarter worth $123,000. Seven Eight Capital LP bought a new stake in shares of NetApp during the fourth quarter worth $118,000. NJ State Employees Deferred Compensation Plan bought a new stake in shares of NetApp during the first quarter worth $209,000. CAPROCK Group Inc. bought a new stake in shares of NetApp during the first quarter worth $219,000. Finally, Enterprise Financial Services Corp boosted its stake in shares of NetApp by 4,365.9% in the first quarter. Enterprise Financial Services Corp now owns 5,493 shares of the data storage provider’s stock worth $230,000 after buying an additional 5,370 shares during the period. Hedge funds and other institutional investors own 92.52% of the company’s stock.
NetApp Inc. (NASDAQ:NTAP) traded down 1.76% during trading on Monday, hitting $40.24. The stock had a trading volume of 3,637,559 shares. The firm has a market cap of $10.86 billion, a P/E ratio of 22.23 and a beta of 1.50. NetApp Inc. has a 12-month low of $22.89 and a 12-month high of $43.14. The stock’s 50 day moving average price is $40.09 and its 200 day moving average price is $38.69. NetApp also saw unusually large options trading on Friday. Stock traders purchased 630 put options on the stock. This represents an increase of approximately 273% compared to the typical daily volume of 169 put options.
NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, May 24th. The data storage provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.04. NetApp had a return on equity of 15.66% and a net margin of 5.89%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts anticipate that NetApp Inc. will post $3.04 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th will be given a dividend of $0.20 per share. This is a boost from NetApp’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, July 5th. This represents a $0.80 annualized dividend and a yield of 1.99%. NetApp’s payout ratio is presently 69.09%.
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A number of equities research analysts recently weighed in on the company. Barclays PLC restated a “sell” rating and set a $35.00 price objective (down from $38.00) on shares of NetApp in a research note on Thursday. Robert W. Baird reaffirmed a “hold” rating and set a $44.00 target price (down from $47.00) on shares of NetApp in a research report on Thursday. Drexel Hamilton reaffirmed a “buy” rating and set a $52.00 target price on shares of NetApp in a research report on Tuesday, February 14th. Stifel Nicolaus reaffirmed a “hold” rating and set a $37.00 target price on shares of NetApp in a research report on Friday. Finally, Jefferies Group LLC reduced their target price on NetApp from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday. Five research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. NetApp currently has a consensus rating of “Hold” and an average price target of $41.23.
In other NetApp news, CEO George Kurian sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $41.53, for a total transaction of $166,120.00. Following the transaction, the chief executive officer now owns 24,396 shares in the company, valued at approximately $1,013,165.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan L. Earhart sold 27,422 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $42.46, for a total value of $1,164,338.12. Following the completion of the sale, the director now owns 21,611 shares in the company, valued at approximately $917,603.06. The disclosure for this sale can be found here. Insiders have sold a total of 35,422 shares of company stock worth $1,490,498 in the last quarter. 0.49% of the stock is currently owned by insiders.
NetApp Company Profile
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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