AIMZ Investment Advisors LLC trimmed its position in shares of NetApp Inc. (NASDAQ:NTAP) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,053 shares of the data storage provider’s stock after selling 1,343 shares during the quarter. NetApp accounts for approximately 3.2% of AIMZ Investment Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. AIMZ Investment Advisors LLC’s holdings in NetApp were worth $4,318,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Cornerstone Capital Management Holdings LLC. raised its position in NetApp by 89.7% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 209,641 shares of the data storage provider’s stock valued at $11,595,000 after purchasing an additional 99,120 shares in the last quarter. GHP Investment Advisors Inc. raised its position in NetApp by 9.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 50,715 shares of the data storage provider’s stock valued at $2,806,000 after purchasing an additional 4,336 shares in the last quarter. Hanseatic Management Services Inc. raised its position in NetApp by 4.1% in the 4th quarter. Hanseatic Management Services Inc. now owns 25,705 shares of the data storage provider’s stock valued at $1,422,000 after purchasing an additional 1,015 shares in the last quarter. Contour Asset Management LLC acquired a new stake in NetApp in the 4th quarter valued at about $732,000. Finally, Raymond James & Associates raised its position in NetApp by 10.3% in the 4th quarter. Raymond James & Associates now owns 356,864 shares of the data storage provider’s stock valued at $19,742,000 after purchasing an additional 33,385 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.
A number of equities research analysts have issued reports on NTAP shares. DA Davidson increased their price target on NetApp from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Piper Jaffray Companies set a $52.00 price target on NetApp and gave the company a “buy” rating in a research report on Tuesday, November 14th. ValuEngine raised NetApp from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. UBS Group reaffirmed a “buy” rating and issued a $52.00 price target (up previously from $45.00) on shares of NetApp in a research report on Thursday, November 16th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $54.00 price target (up previously from $49.00) on shares of NetApp in a research report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.23.
NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.49 billion. NetApp had a positive return on equity of 29.38% and a negative net margin of 0.09%. During the same quarter last year, the business posted $0.82 EPS. analysts expect that NetApp Inc. will post 2.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Friday, April 6th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. NetApp’s dividend payout ratio is presently -1,000.00%.
In related news, VP Joel D. Reich sold 11,641 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $60.02, for a total transaction of $698,692.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO George Kurian sold 7,020 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $60.98, for a total value of $428,079.60. The disclosure for this sale can be found here. Insiders have sold a total of 63,027 shares of company stock worth $3,653,425 in the last 90 days. 0.47% of the stock is currently owned by company insiders.
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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.
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