Norinchukin Bank The Lowers Holdings in NetApp, Inc. (NTAP)
Norinchukin Bank The lowered its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,769 shares of the data storage provider’s stock after selling 2,959 shares during the quarter. Norinchukin Bank The’s holdings in NetApp were worth $2,434,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in NTAP. BlackRock Inc. lifted its position in NetApp by 1,529.1% during the first quarter. BlackRock Inc. now owns 20,130,070 shares of the data storage provider’s stock valued at $842,443,000 after purchasing an additional 18,894,401 shares during the last quarter. FMR LLC lifted its position in NetApp by 397.8% during the first quarter. FMR LLC now owns 1,608,714 shares of the data storage provider’s stock valued at $67,325,000 after purchasing an additional 1,285,545 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in NetApp by 3,230.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 1,202,818 shares of the data storage provider’s stock valued at $50,338,000 after purchasing an additional 1,166,701 shares during the last quarter. Argent Capital Management LLC bought a new position in NetApp during the first quarter valued at $35,709,000. Finally, Wellington Management Group LLP lifted its position in NetApp by 3,256.4% during the first quarter. Wellington Management Group LLP now owns 819,339 shares of the data storage provider’s stock valued at $34,289,000 after purchasing an additional 794,928 shares during the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.
In related news, VP Joel D. Reich sold 9,031 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $39.81, for a total transaction of $359,524.11. Following the completion of the sale, the vice president now directly owns 10,902 shares of the company’s stock, valued at $434,008.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 4,570 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $37.98, for a total value of $173,568.60. Following the sale, the chief executive officer now directly owns 23,028 shares of the company’s stock, valued at $874,603.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,226 shares of company stock worth $3,344,026. Insiders own 0.47% of the company’s stock.
NetApp, Inc. (NTAP) traded up 0.10% during trading on Friday, hitting $40.69. 316,643 shares of the company traded hands. NetApp, Inc. has a 52-week low of $30.36 and a 52-week high of $45.24. The company’s 50-day moving average is $40.55 and its 200 day moving average is $40.65. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 19.65 and a beta of 1.22.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.07. The business had revenue of $1.33 billion for 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%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. On average, equities analysts anticipate that NetApp, Inc. will post $3.12 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.97%. NetApp’s dividend payout ratio (DPR) is presently 38.65%.
Several equities research analysts have recently issued reports on NTAP shares. BidaskClub lowered shares of NetApp from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Drexel Hamilton restated a “buy” rating and issued a $62.00 target price on shares of NetApp in a report on Wednesday, May 24th. Royal Bank Of Canada restated a “hold” rating and issued a $45.00 target price on shares of NetApp in a report on Friday, June 9th. Credit Suisse Group upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $35.00 to $37.00 in a report on Thursday, May 25th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of NetApp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $47.00 in a report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $43.70.
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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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