Riverbridge Partners LLC reduced its stake in National Instruments Corp (NASDAQ:NATI) by 0.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,621,937 shares of the technology company’s stock after selling 16,420 shares during the period. National Instruments accounts for about 2.0% of Riverbridge Partners LLC’s portfolio, making the stock its 15th largest position. Riverbridge Partners LLC’s holdings in National Instruments were worth $111,013,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in NATI. First Trust Advisors LP increased its stake in National Instruments by 1,225.5% in the 1st quarter. First Trust Advisors LP now owns 81,984 shares of the technology company’s stock worth $3,637,000 after purchasing an additional 75,799 shares during the period. LPL Financial LLC increased its stake in National Instruments by 7.9% in the 2nd quarter. LPL Financial LLC now owns 5,755 shares of the technology company’s stock worth $242,000 after purchasing an additional 422 shares during the period. Northern Trust Corp increased its stake in National Instruments by 10.2% in the 2nd quarter. Northern Trust Corp now owns 1,122,033 shares of the technology company’s stock worth $47,113,000 after purchasing an additional 104,288 shares during the period. Bank of Nova Scotia increased its stake in National Instruments by 5.7% in the 2nd quarter. Bank of Nova Scotia now owns 12,678 shares of the technology company’s stock worth $532,000 after purchasing an additional 678 shares during the period. Finally, HighTower Advisors LLC increased its stake in National Instruments by 16.6% in the 2nd quarter. HighTower Advisors LLC now owns 10,715 shares of the technology company’s stock worth $445,000 after purchasing an additional 1,524 shares during the period. 80.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ NATI traded down $0.03 during mid-day trading on Tuesday, hitting $44.40. 419,300 shares of the stock traded hands, compared to its average volume of 737,622. National Instruments Corp has a 52 week low of $38.01 and a 52 week high of $48.22. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 33.13 and a beta of 0.88. The stock has a fifty day moving average price of $42.39 and a 200-day moving average price of $42.38.

National Instruments (NASDAQ:NATI) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. National Instruments had a return on equity of 14.73% and a net margin of 11.90%. The company had revenue of $340.44 million for the quarter, compared to analyst estimates of $338.95 million. During the same period in the previous year, the company posted $0.45 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. Analysts forecast that National Instruments Corp will post 1.26 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on NATI shares. Robert W. Baird upgraded National Instruments from a “neutral” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Thursday, January 9th. Susquehanna Bancshares started coverage on National Instruments in a research report on Friday, October 18th. They issued a “neutral” rating and a $40.00 price objective on the stock. ValuEngine upgraded National Instruments from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Finally, BidaskClub lowered National Instruments from a “hold” rating to a “sell” rating in a research report on Friday, December 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. National Instruments presently has a consensus rating of “Hold” and an average target price of $46.67.

National Instruments Company Profile

National Instruments Corporation provides a software-centric platform and systems to engineers and scientists worldwide. Its programming environments software includes LabVIEW, a graphical application software package to visualize hardware configuration, measurement data, and debugging of application; LabWindows/CVI, an ANSI C integrated development environment and engineering toolbox with built-in libraries for measurement, analysis, and engineering UI design; and NI Measurement Studio, a suite of .NET tools designed for building engineering applications in Microsoft Visual Studio to acquire, analyze, and display measurement data.

See Also: Hedge Funds Explained

Want to see what other hedge funds are holding NATI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Instruments Corp (NASDAQ:NATI).

Institutional Ownership by Quarter for National Instruments (NASDAQ:NATI)

Receive News & Ratings for National Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Instruments and related companies with MarketBeat.com's FREE daily email newsletter.