Evanston Investments Inc. dba Evanston Advisors Has $7.76 Million Stake in NetApp, Inc. (NTAP)
Evanston Investments Inc. dba Evanston Advisors increased its position in NetApp, Inc. (NASDAQ:NTAP) by 1.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 193,843 shares of the data storage provider’s stock after buying an additional 3,582 shares during the period. NetApp makes up about 1.9% of Evanston Investments Inc. dba Evanston Advisors’ investment portfolio, making the stock its 23rd largest position. Evanston Investments Inc. dba Evanston Advisors owned approximately 0.07% of NetApp worth $7,763,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. CAPROCK Group Inc. boosted its stake in NetApp by 0.8% in the second quarter. CAPROCK Group Inc. now owns 5,278 shares of the data storage provider’s stock valued at $211,000 after buying an additional 44 shares in the last quarter. Contravisory Investment Management Inc. boosted its stake in NetApp by 0.6% in the second quarter. Contravisory Investment Management Inc. now owns 7,059 shares of the data storage provider’s stock valued at $283,000 after buying an additional 45 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in NetApp by 0.7% in the second quarter. Neuberger Berman Group LLC now owns 8,201 shares of the data storage provider’s stock valued at $328,000 after buying an additional 58 shares in the last quarter. Breton Hill Capital Ltd. boosted its stake in NetApp by 0.3% in the second quarter. Breton Hill Capital Ltd. now owns 17,290 shares of the data storage provider’s stock valued at $692,000 after buying an additional 59 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in NetApp by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider’s stock valued at $673,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 91.85% of the company’s stock.
Shares of NetApp, Inc. (NASDAQ:NTAP) traded down 0.29% during trading on Thursday, hitting $38.11. The stock had a trading volume of 292,725 shares. The stock has a market cap of $10.29 billion, a price-to-earnings ratio of 18.40 and a beta of 1.21. The stock’s 50-day moving average is $41.93 and its 200-day moving average is $40.73. NetApp, Inc. has a 12-month low of $30.36 and a 12-month high of $45.24.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.07. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. NetApp had a net margin of 10.47% and a return on equity of 24.13%. NetApp’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. On average, equities research analysts expect that NetApp, Inc. will post $3.13 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, October 5th. NetApp’s payout ratio is 38.65%.
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A number of equities analysts recently commented on NTAP shares. BidaskClub lowered NetApp from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Zacks Investment Research raised NetApp from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. OTR Global raised NetApp to a “positive” rating in a research note on Monday, May 15th. Drexel Hamilton reaffirmed a “buy” rating and issued a $62.00 price objective on shares of NetApp in a research note on Wednesday, May 24th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $45.00 price objective on shares of NetApp in a research note on Friday, June 9th. Three equities research 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. NetApp presently has a consensus rating of “Hold” and an average price target of $43.70.
In other NetApp news, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $43.41, for a total transaction of $85,778.16. Following the completion of the transaction, the executive vice president now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Kurian sold 4,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $43.67, for a total transaction of $174,680.00. Following the transaction, the chief executive officer now directly owns 27,598 shares of the company’s stock, valued at $1,205,204.66. The disclosure for this sale can be found here. Insiders have sold a total of 93,518 shares of company stock valued at $3,757,082 over the last three months. 0.47% of the stock is currently owned by company 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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