Profund Advisors LLC lifted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 17.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,928 shares of the data storage provider’s stock after acquiring an additional 1,304 shares during the period. Profund Advisors LLC’s holdings in NetApp were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of NetApp by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 26,733,109 shares of the data storage provider’s stock worth $1,118,781,000 after acquiring an additional 621,932 shares in the last quarter. BlackRock Inc. increased its position in NetApp by 7.5% in the 2nd quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock valued at $867,006,000 after buying an additional 1,517,967 shares in the last quarter. Geode Capital Management LLC increased its position in NetApp by 5.7% in the 1st quarter. Geode Capital Management LLC now owns 3,042,360 shares of the data storage provider’s stock valued at $127,165,000 after buying an additional 164,120 shares in the last quarter. Wells Fargo & Company MN increased its position in NetApp by 33.9% in the 2nd quarter. Wells Fargo & Company MN now owns 2,754,400 shares of the data storage provider’s stock valued at $110,313,000 after buying an additional 697,819 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its position in NetApp by 4.0% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 2,451,018 shares of the data storage provider’s stock valued at $98,164,000 after buying an additional 94,407 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Shares of NetApp, Inc. (NTAP) opened at 44.43 on Friday. NetApp, Inc. has a 52-week low of $30.36 and a 52-week high of $45.24. The firm’s 50 day moving average price is $40.83 and its 200 day moving average price is $40.75. The stock has a market cap of $11.99 billion, a P/E ratio of 21.45 and a beta of 1.26.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. On average, analysts expect that NetApp, Inc. will post $3.13 EPS for the current 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Thursday, October 5th. NetApp’s dividend payout ratio is presently 38.65%.

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A number of brokerages recently commented on NTAP. Zacks Investment Research lowered NetApp from a “buy” rating to a “hold” rating in a research report on Thursday. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of NetApp in a research report on Wednesday. Robert W. Baird reaffirmed a “hold” rating and issued a $46.00 target price (up from $44.00) on shares of NetApp in a research report on Wednesday. BidaskClub raised NetApp from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $51.00 target price on shares of NetApp in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and thirteen have given a buy rating to the company. NetApp presently has a consensus rating of “Hold” and a consensus target price of $45.12.

In other news, EVP Henri P. Richard sold 3,952 shares of NetApp stock in a transaction on Friday, July 14th. The shares were sold at an average price of $42.20, for a total transaction of $166,774.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Henri P. Richard sold 1,976 shares of NetApp 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 transaction, the executive vice president now owns 19,788 shares in the company, valued at approximately $858,997.08. The disclosure for this sale can be found here. Insiders have sold a total of 52,450 shares of company stock worth $2,250,560 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

NetApp 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.

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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