James Investment Research Inc. Invests $1.21 Million in NetApp, Inc. (NASDAQ:NTAP)
James Investment Research Inc. bought a new position in NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,140 shares of the data storage provider’s stock, valued at approximately $1,207,000.
A number of other institutional investors also recently made changes to their positions in NTAP. UBS Asset Management Americas Inc. raised its position in shares of NetApp by 17.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,030,110 shares of the data storage provider’s stock worth $36,332,000 after buying an additional 149,690 shares during the period. Kentucky Retirement Systems bought a new position in shares of NetApp during the fourth quarter worth about $705,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of NetApp during the fourth quarter worth about $314,000. Chevy Chase Trust Holdings Inc. raised its position in shares of NetApp by 1.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 233,576 shares of the data storage provider’s stock worth $9,776,000 after buying an additional 3,470 shares during the period. Finally, Contravisory Investment Management Inc. raised its position in shares of NetApp by 27.4% in the first quarter. Contravisory Investment Management Inc. now owns 7,014 shares of the data storage provider’s stock worth $294,000 after buying an additional 1,510 shares during the period. 91.24% of the stock is currently owned by institutional investors and hedge funds.
NetApp, Inc. (NTAP) opened at 44.76 on Friday. The firm has a market capitalization of $12.16 billion, a P/E ratio of 24.73 and a beta of 1.19. The firm’s 50-day moving average is $39.92 and its 200-day moving average is $39.79. NetApp, Inc. has a 52-week low of $25.77 and a 52-week high of $45.24.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, May 24th. The data storage provider reported $0.86 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the firm posted $0.55 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts expect that NetApp, Inc. will post $3.03 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.79%. This is a positive change from NetApp’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, July 5th. NetApp’s dividend payout ratio (DPR) is presently 44.20%.
ILLEGAL ACTIVITY NOTICE: “James Investment Research Inc. Invests $1.21 Million in NetApp, Inc. (NASDAQ:NTAP)” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright and trademark law. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/07/22/james-investment-research-inc-invests-1-21-million-in-netapp-inc-nasdaqntap.html.
A number of equities analysts recently issued reports on NTAP shares. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $48.00 target price on shares of NetApp in a research report on Friday, March 31st. Drexel Hamilton reaffirmed a “buy” rating on shares of NetApp in a research report on Monday, April 3rd. Zacks Investment Research lowered shares of NetApp from a “buy” rating to a “hold” rating in a research report on Monday, April 3rd. UBS AG set a $40.00 target price on shares of NetApp and gave the stock a “sell” rating in a research report on Tuesday, April 4th. Finally, Robert W. Baird boosted their target price on shares of NetApp from $43.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 4th. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $41.52.
In related news, CEO George Kurian sold 4,000 shares of NetApp stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Henri P. Richard sold 3,952 shares of NetApp stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $42.20, for a total value of $166,774.40. The disclosure for this sale can be found here. Insiders have sold 115,542 shares of company stock worth $4,626,344 over the last three months. Insiders own 0.49% of the company’s stock.
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.
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 & Stock Ratings for NetApp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp Inc. and related stocks with our FREE daily email newsletter.