NetApp, Inc. (NTAP) Shares Bought by Advisors Asset Management Inc.
Advisors Asset Management Inc. raised its position in NetApp, Inc. (NASDAQ:NTAP) by 13.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,322 shares of the data storage provider’s stock after buying an additional 1,992 shares during the period. Advisors Asset Management Inc.’s holdings in NetApp were worth $725,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. Bank of Montreal Can increased its stake in NetApp by 22.3% in the first quarter. Bank of Montreal Can now owns 178,969 shares of the data storage provider’s stock worth $7,491,000 after buying an additional 32,658 shares during the period. Artemis Investment Management LLP bought a new position in NetApp during the fourth quarter worth $4,148,000. First Quadrant L P CA boosted its position in NetApp by 41.3% in the first quarter. First Quadrant L P CA now owns 393,084 shares of the data storage provider’s stock worth $16,451,000 after buying an additional 114,881 shares in the last quarter. Dodge & Cox bought a new position in NetApp during the fourth quarter worth $812,244,000. Finally, First Trust Advisors LP boosted its position in NetApp by 12.7% in the first quarter. First Trust Advisors LP now owns 1,085,042 shares of the data storage provider’s stock worth $45,409,000 after buying an additional 122,097 shares in the last quarter. 92.43% of the stock is owned by hedge funds and other institutional investors.
Shares of NetApp, Inc. (NASDAQ NTAP) traded up 0.03% on Friday, hitting $37.98. The company had a trading volume of 2,744,049 shares. NetApp, Inc. has a 12-month low of $22.89 and a 12-month high of $43.14. The firm has a 50 day moving average of $39.78 and a 200-day moving average of $39.08. The firm has a market capitalization of $10.25 billion, a P/E ratio of 20.98 and a beta of 1.21.
NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, May 24th. The data storage provider reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.04. NetApp had a return on equity of 21.66% and a net margin of 9.22%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the business posted $0.55 EPS. NetApp’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts predict that NetApp, Inc. will post $3.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be issued a dividend of $0.20 per share. This is an increase 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 dividend yield of 2.11%. NetApp’s dividend payout ratio (DPR) is 41.99%.
A number of equities analysts have weighed in on NTAP shares. Drexel Hamilton restated a “buy” rating on shares of NetApp in a report on Monday, April 3rd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $43.00 price target on shares of NetApp in a report on Thursday, February 16th. Lake Street Capital upgraded NetApp from a “hold” rating to a “buy” rating and increased their target price for the company from $32.00 to $43.00 in a research note on Thursday, February 16th. Piper Jaffray Companies set a $50.00 target price on NetApp and gave the company a “buy” rating in a research note on Thursday, April 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of NetApp in a research note on Thursday, February 16th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $41.42.
In related news, Director Jeffry R. Allen sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $40.46, for a total transaction of $809,200.00. Following the completion of the transaction, the director now directly owns 8,500 shares of the company’s stock, valued at approximately $343,910. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO George Kurian sold 4,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $40.01, for a total value of $160,040.00. Following the transaction, the chief executive officer now directly owns 20,396 shares of the company’s stock, valued at $816,043.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,862 shares of company stock worth $1,882,464. 0.49% of the stock is currently owned by company insiders.
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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