Achmea Investment Management B.V. cut its holdings in shares of NetApp Inc. (NASDAQ:NTAP) by 7.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,637 shares of the data storage provider’s stock after selling 5,773 shares during the period. Achmea Investment Management B.V.’s holdings in NetApp were worth $6,147,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NTAP. Pitcairn Co. boosted its stake in NetApp by 18.3% in the third quarter. Pitcairn Co. now owns 4,124 shares of the data storage provider’s stock valued at $354,000 after acquiring an additional 637 shares in the last quarter. World Asset Management Inc boosted its stake in NetApp by 3.6% in the second quarter. World Asset Management Inc now owns 19,627 shares of the data storage provider’s stock valued at $1,541,000 after acquiring an additional 683 shares in the last quarter. DNB Asset Management AS boosted its stake in NetApp by 2.1% in the third quarter. DNB Asset Management AS now owns 35,849 shares of the data storage provider’s stock valued at $3,079,000 after acquiring an additional 752 shares in the last quarter. CIBC Asset Management Inc boosted its stake in NetApp by 2.8% in the second quarter. CIBC Asset Management Inc now owns 28,357 shares of the data storage provider’s stock valued at $2,227,000 after acquiring an additional 763 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in NetApp by 6.7% in the third quarter. IFM Investors Pty Ltd now owns 14,312 shares of the data storage provider’s stock valued at $1,229,000 after acquiring an additional 893 shares in the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.
In other NetApp news, CEO George Kurian sold 6,000 shares of NetApp stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $86.61, for a total value of $519,660.00. Following the completion of the transaction, the chief executive officer now owns 70,147 shares of the company’s stock, valued at $6,075,431.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Henri P. Richard sold 2,525 shares of NetApp stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $76.99, for a total transaction of $194,399.75. Following the completion of the transaction, the executive vice president now directly owns 65,907 shares of the company’s stock, valued at approximately $5,074,179.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,451 shares of company stock valued at $10,579,434. 0.19% of the stock is currently owned by corporate insiders.
Shares of NetApp stock opened at $81.66 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.06 and a quick ratio of 2.03. NetApp Inc. has a 1 year low of $45.24 and a 1 year high of $88.08. The firm has a market cap of $20.82 billion, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 15th. The data storage provider reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.24. NetApp had a net margin of 3.68% and a return on equity of 41.75%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the company posted $0.62 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts anticipate that NetApp Inc. will post 3.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Investors of record on Friday, October 5th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 1.96%. NetApp’s dividend payout ratio (DPR) is presently 53.51%.
Several equities research analysts have weighed in on the stock. Bank of America raised their target price on shares of NetApp from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, August 13th. Zacks Investment Research raised shares of NetApp from a “hold” rating to a “strong-buy” rating and set a $93.00 price target for the company in a report on Tuesday, August 21st. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $92.00 price target on shares of NetApp in a report on Thursday, August 16th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $90.00 price target on shares of NetApp in a report on Thursday, August 16th. Finally, Deutsche Bank raised their price target on shares of NetApp from $43.00 to $60.00 and gave the stock a “sell” rating in a report on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $81.17.
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NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and share date 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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