Virginia Retirement Systems ET AL raised its position in NetApp, Inc. (NASDAQ:NTAP) by 42.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 299,000 shares of the data storage provider’s stock after buying an additional 88,900 shares during the period. Virginia Retirement Systems ET AL owned approximately 0.11% of NetApp worth $11,975,000 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. DnB Asset Management AS increased its stake in NetApp by 12.1% in the first quarter. DnB Asset Management AS now owns 31,497 shares of the data storage provider’s stock worth $1,318,000 after buying an additional 3,400 shares during the period. State of Alaska Department of Revenue acquired a new stake in NetApp during the first quarter worth about $489,000. BTIM Corp. increased its stake in NetApp by 8.0% in the first quarter. BTIM Corp. now owns 113,120 shares of the data storage provider’s stock worth $4,735,000 after buying an additional 8,358 shares during the period. Finally, Korea Investment CORP increased its stake in NetApp by 17.4% in the first quarter. Korea Investment CORP now owns 131,667 shares of the data storage provider’s stock worth $5,510,000 after buying an additional 19,539 shares during the period. 90.10% of the stock is owned by hedge funds and other institutional investors.

Shares of NetApp, Inc. (NTAP) opened at 38.67 on Thursday. The company’s 50 day moving average is $41.94 and its 200-day moving average is $40.74. NetApp, Inc. has a 52 week low of $30.36 and a 52 week high of $45.24. The company has a market capitalization of $10.44 billion, a PE ratio of 18.67 and a beta of 1.21.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.07. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company posted $0.46 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts expect that NetApp, Inc. will post $3.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th will be paid a $0.20 dividend. The ex-dividend date is Thursday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.07%. NetApp’s payout ratio is 38.65%.

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NTAP has been the subject of a number of research analyst reports. Royal Bank Of Canada reissued a “hold” rating on shares of NetApp in a research report on Friday, April 28th. Zacks Investment Research downgraded shares of NetApp from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. OTR Global raised shares of NetApp to a “positive” rating in a research report on Monday, May 15th. Bank of America Corporation reaffirmed a “neutral” rating and issued a $48.00 price objective (up previously from $45.00) on shares of NetApp in a research report on Wednesday, May 17th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $62.00 price objective on shares of NetApp in a research report on Wednesday, May 24th. Three investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.81.

In related news, EVP Henri P. Richard sold 1,976 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $43.41, for a total transaction of $85,778.16. Following the sale, the executive vice president now owns 19,788 shares of the company’s stock, valued at approximately $858,997.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $40.12, for a total value of $160,480.00. Following the sale, the chief executive officer now directly owns 65,123 shares in the company, valued at approximately $2,612,734.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,518 shares of company stock worth $4,726,762. Corporate insiders own 0.47% of the company’s stock.

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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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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