Marshall Wace North America L.P. Decreases Position in NetApp, Inc. (NTAP)
Marshall Wace North America L.P. reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 72.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,582 shares of the data storage provider’s stock after selling 451,175 shares during the period. Marshall Wace North America L.P. owned 0.06% of NetApp worth $6,823,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can increased its position 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 valued at $7,491,000 after buying an additional 32,658 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in NetApp during the first quarter valued at approximately $489,000. Korea Investment CORP increased its position in NetApp by 17.4% in the first quarter. Korea Investment CORP now owns 131,667 shares of the data storage provider’s stock valued at $5,510,000 after buying an additional 19,539 shares in the last quarter. Profund Advisors LLC increased its position in NetApp by 8.1% in the first quarter. Profund Advisors LLC now owns 7,624 shares of the data storage provider’s stock valued at $319,000 after buying an additional 572 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in NetApp by 23.9% in the first quarter. Janney Montgomery Scott LLC now owns 20,428 shares of the data storage provider’s stock valued at $855,000 after buying an additional 3,943 shares in the last quarter. Hedge funds and other institutional investors own 91.85% of the company’s stock.
NetApp, Inc. (NASDAQ NTAP) opened at 38.54 on Monday. The company has a market capitalization of $10.41 billion, a PE ratio of 18.61 and a beta of 1.21. NetApp, Inc. has a one year low of $30.36 and a one year high of $45.24. The company has a 50-day moving average price of $41.93 and a 200-day moving average price of $40.73.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.07. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Analysts expect that NetApp, Inc. will post $3.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Thursday, October 5th. NetApp’s payout ratio is 38.65%.
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Several equities research analysts have recently weighed in on NTAP shares. Zacks Investment Research cut NetApp from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. OTR Global raised NetApp to a “positive” rating in a research note on Monday, May 15th. Bank of America Corporation reissued a “neutral” rating and issued a $48.00 price objective (up previously from $45.00) on shares of NetApp in a research note on Wednesday, May 17th. Drexel Hamilton reissued a “buy” rating and issued a $62.00 price objective on shares of NetApp in a research note on Wednesday, May 24th. Finally, Credit Suisse Group raised NetApp from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $35.00 to $37.00 in a research note on Thursday, May 25th. Three investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $43.70.
In other news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $43.41, for a total value of $85,778.16. Following the sale, the executive vice president now owns 19,788 shares of the company’s stock, valued at $858,997.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffry R. Allen sold 20,000 shares of NetApp stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $40.46, for a total transaction of $809,200.00. Following the completion of the sale, the director now directly owns 8,500 shares in the company, valued at approximately $343,910. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,518 shares of company stock worth $4,726,762. 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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