Brandywine Global Investment Management LLC raised its position in NetApp Inc. (NASDAQ:NTAP) by 20.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 224,312 shares of the data storage provider’s stock after purchasing an additional 38,137 shares during the quarter. Brandywine Global Investment Management LLC owned 0.08% of NetApp worth $12,409,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in NetApp by 9.0% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,939 shares of the data storage provider’s stock worth $960,000 after acquiring an additional 1,809 shares in the last quarter. Oakview Capital Management L.P. bought a new position in NetApp in the 3rd quarter worth about $24,533,000. U S Global Investors Inc. grew its stake in NetApp by 52.0% in the 3rd quarter. U S Global Investors Inc. now owns 12,000 shares of the data storage provider’s stock worth $525,000 after acquiring an additional 4,103 shares in the last quarter. Ameriprise Financial Inc. grew its stake in NetApp by 34.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 410,708 shares of the data storage provider’s stock worth $17,973,000 after acquiring an additional 104,321 shares in the last quarter. Finally, Alps Advisors Inc. grew its stake in NetApp by 114.9% in the 3rd quarter. Alps Advisors Inc. now owns 26,842 shares of the data storage provider’s stock worth $1,175,000 after acquiring an additional 14,354 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.
A number of research firms have recently issued reports on NTAP. Deutsche Bank increased their price objective on shares of NetApp from $37.00 to $40.00 and gave the company a “sell” rating in a research note on Thursday, February 15th. Zacks Investment Research upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, February 6th. Pivotal Research set a $62.00 price objective on shares of NetApp and gave the company a “buy” rating in a research note on Thursday, February 15th. DA Davidson increased their price objective on shares of NetApp from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, Loop Capital increased their price objective on shares of NetApp from $41.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, November 16th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.23.
Shares of NetApp Inc. (NTAP) opened at $64.53 on Tuesday. NetApp Inc. has a 52-week low of $37.43 and a 52-week high of $65.44. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.88 and a current ratio of 1.91. The company has a market cap of $17,484.64, a P/E ratio of -806.63, a P/E/G ratio of 2.08 and a beta of 1.29.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.08. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.49 billion. NetApp had a negative net margin of 0.09% and a positive return on equity of 29.38%. During the same quarter last year, the company posted $0.82 earnings per share. equities analysts forecast that NetApp Inc. will post 2.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. NetApp’s dividend payout ratio is currently -1,000.00%.
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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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