Commerzbank Aktiengesellschaft FI Buys 29,794 Shares of NetApp Inc. (NASDAQ:NTAP)
Commerzbank Aktiengesellschaft FI increased its stake in shares of NetApp Inc. (NASDAQ:NTAP) by 116.5% during the third quarter, HoldingsChannel reports. The fund owned 55,359 shares of the data storage provider’s stock after acquiring an additional 29,794 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in NetApp were worth $2,907,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Hexavest Inc. bought a new position in NetApp during the second quarter worth $26,000. Kistler Tiffany Companies LLC increased its position in NetApp by 315.4% during the second quarter. Kistler Tiffany Companies LLC now owns 511 shares of the data storage provider’s stock worth $32,000 after acquiring an additional 388 shares during the period. CWM LLC increased its position in NetApp by 113.0% during the second quarter. CWM LLC now owns 639 shares of the data storage provider’s stock worth $39,000 after acquiring an additional 339 shares during the period. Rational Advisors LLC increased its position in NetApp by 1,256.9% during the second quarter. Rational Advisors LLC now owns 692 shares of the data storage provider’s stock worth $43,000 after acquiring an additional 641 shares during the period. Finally, North Star Investment Management Corp. bought a new position in NetApp during the third quarter worth $40,000. 96.23% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Joel D. Reich sold 3,963 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $47.29, for a total value of $187,410.27. Following the sale, the vice president now owns 12,249 shares in the company, valued at approximately $579,255.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Held sold 7,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $47.23, for a total transaction of $330,610.00. Following the completion of the sale, the director now owns 14,391 shares in the company, valued at approximately $679,686.93. The disclosure for this sale can be found here. Insiders sold a total of 20,963 shares of company stock worth $987,420 in the last 90 days. 0.33% of the stock is owned by corporate insiders.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 14th. The data storage provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.19. NetApp had a net margin of 16.74% and a return on equity of 77.11%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the company earned $1.04 EPS. The firm’s revenue for the quarter was down 16.1% compared to the same quarter last year. Analysts predict that NetApp Inc. will post 3.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be paid a $0.48 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.92 annualized dividend and a dividend yield of 3.59%. NetApp’s dividend payout ratio is presently 47.76%.
A number of brokerages recently issued reports on NTAP. Piper Jaffray Companies lowered shares of NetApp from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $75.00 to $48.00 in a research report on Friday, August 2nd. Citigroup reissued a “sell” rating and issued a $40.00 price target (down previously from $55.00) on shares of NetApp in a report on Friday, August 16th. ValuEngine raised shares of NetApp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Bank of America set a $56.00 price target on shares of NetApp and gave the company a “hold” rating in a report on Tuesday, September 17th. Finally, Longbow Research lowered shares of NetApp from a “buy” rating to a “neutral” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $59.75.
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.
Featured Article: What is Put Option Volume?
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.