Bronfman E.L. Rothschild L.P. Buys 1,310 Shares of NetApp Inc. (NTAP)
Bronfman E.L. Rothschild L.P. lifted its stake in NetApp Inc. (NASDAQ:NTAP) by 90.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,763 shares of the data storage provider’s stock after purchasing an additional 1,310 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in NetApp were worth $165,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Pensionfund DSM Netherlands bought a new position in shares of NetApp in the 4th quarter worth $1,671,000. First Trust Advisors LP boosted its position in shares of NetApp by 34.9% in the 4th quarter. First Trust Advisors LP now owns 2,975,676 shares of the data storage provider’s stock worth $177,559,000 after purchasing an additional 769,122 shares during the last quarter. Federated Investors Inc. PA boosted its position in shares of NetApp by 15.3% in the 3rd quarter. Federated Investors Inc. PA now owns 584,780 shares of the data storage provider’s stock worth $50,227,000 after purchasing an additional 77,411 shares during the last quarter. Great Lakes Advisors LLC boosted its position in shares of NetApp by 1.1% in the 3rd quarter. Great Lakes Advisors LLC now owns 67,985 shares of the data storage provider’s stock worth $5,839,000 after purchasing an additional 723 shares during the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of NetApp by 24.6% in the 4th quarter. Bank of Nova Scotia now owns 139,724 shares of the data storage provider’s stock worth $8,335,000 after purchasing an additional 27,626 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.
Several research firms have recently issued reports on NTAP. Zacks Investment Research upgraded NetApp from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Monday, December 3rd. Lake Street Capital reduced their price target on NetApp to $69.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Oppenheimer restated a “hold” rating on shares of NetApp in a research report on Thursday, February 14th. William Blair lowered NetApp from an “outperform” rating to a “market perform” rating and set a $61.95 target price on the stock. in a report on Thursday, February 14th. Finally, Wells Fargo & Co reduced their target price on NetApp from $80.00 to $70.00 and set a “market perform” rating on the stock in a report on Thursday, February 14th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $77.16.
Shares of NetApp stock opened at $67.57 on Thursday. The stock has a market capitalization of $16.53 billion, a PE ratio of 22.60, a PEG ratio of 1.17 and a beta of 1.40. NetApp Inc. has a one year low of $54.50 and a one year high of $88.08. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.53 and a current ratio of 1.56.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, February 13th. The data storage provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.05. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.60 billion. NetApp had a return on equity of 60.32% and a net margin of 16.85%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share. Analysts predict that NetApp Inc. will post 4.04 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th will be issued a $0.40 dividend. The ex-dividend date is Thursday, April 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.37%. NetApp’s dividend payout ratio (DPR) is 53.51%.
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NetApp, Inc provides software, systems, and services to manage and share data 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.
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