Sumitomo Mitsui Trust Holdings Inc. Purchases 136,245 Shares of NetApp Inc. (NTAP)
Sumitomo Mitsui Trust Holdings Inc. boosted its position in NetApp Inc. (NASDAQ:NTAP) by 15.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,014,411 shares of the data storage provider’s stock after buying an additional 136,245 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.39% of NetApp worth $87,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in NTAP. CENTRAL TRUST Co increased its position in NetApp by 589.7% in the third quarter. CENTRAL TRUST Co now owns 1,276 shares of the data storage provider’s stock worth $110,000 after buying an additional 1,091 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in NetApp by 16,433.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,488 shares of the data storage provider’s stock worth $116,000 after buying an additional 1,479 shares during the last quarter. Cerebellum GP LLC purchased a new stake in NetApp in the third quarter worth $182,000. Checchi Capital Advisers LLC purchased a new stake in NetApp in the third quarter worth $201,000. Finally, Greenleaf Trust purchased a new stake in NetApp in the second quarter worth $206,000. 95.18% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on NTAP shares. Bank of America raised their target price on NetApp from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. BidaskClub downgraded NetApp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Lake Street Capital decreased their target price on NetApp from $88.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $92.00 target price on shares of NetApp in a research report on Thursday, August 16th. Finally, Maxim Group raised their target price on NetApp from $81.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, August 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $81.21.
NetApp stock opened at $68.88 on Friday. NetApp Inc. has a one year low of $51.31 and a one year high of $88.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.06 and a quick ratio of 2.03. The firm has a market capitalization of $20.45 billion, a PE ratio of 23.04, a P/E/G ratio of 1.42 and a beta of 1.38.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, November 14th. The data storage provider reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.07. NetApp had a return on equity of 41.75% and a net margin of 3.68%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company earned $0.81 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that NetApp Inc. will post 3.92 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Friday, January 4th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, January 3rd. NetApp’s payout ratio is currently 53.51%.
COPYRIGHT VIOLATION NOTICE: “Sumitomo Mitsui Trust Holdings Inc. Purchases 136,245 Shares of NetApp Inc. (NTAP)” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://www.thecerbatgem.com/2018/11/16/sumitomo-mitsui-trust-holdings-inc-purchases-136245-shares-of-netapp-inc-ntap.html.
NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
Read More: Dow Jones Industrial Average (DJIA)
Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp Inc. (NASDAQ:NTAP).
Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.