NetApp Inc. (NTAP) Shares Bought by Redpoint Investment Management Pty Ltd

Redpoint Investment Management Pty Ltd increased its position in NetApp Inc. (NASDAQ:NTAP) by 532.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,040 shares of the data storage provider’s stock after purchasing an additional 32,869 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in NetApp were worth $2,330,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in shares of NetApp by 67.6% in the 3rd quarter. Renaissance Technologies LLC now owns 3,910,776 shares of the data storage provider’s stock valued at $335,897,000 after purchasing an additional 1,577,844 shares during the period. American Century Companies Inc. increased its position in NetApp by 33.9% during the 3rd quarter. American Century Companies Inc. now owns 2,270,452 shares of the data storage provider’s stock valued at $195,009,000 after buying an additional 574,247 shares in the last quarter. First Trust Advisors LP increased its position in NetApp by 8.1% during the 3rd quarter. First Trust Advisors LP now owns 2,206,554 shares of the data storage provider’s stock valued at $189,521,000 after buying an additional 165,544 shares in the last quarter. Janus Henderson Group PLC increased its position in NetApp by 46.9% during the 3rd quarter. Janus Henderson Group PLC now owns 2,020,797 shares of the data storage provider’s stock valued at $173,567,000 after buying an additional 644,997 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its position in NetApp by 27,092.2% during the 3rd quarter. OppenheimerFunds Inc. now owns 1,909,435 shares of the data storage provider’s stock valued at $164,002,000 after buying an additional 1,902,413 shares in the last quarter. Institutional investors own 95.82% of the company’s stock.

In related news, EVP Henri P. Richard sold 5,050 shares of NetApp stock in a transaction on Friday, February 1st. The stock was sold at an average price of $66.01, for a total transaction of $333,350.50. Following the transaction, the executive vice president now directly owns 56,707 shares in the company, valued at $3,743,229.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George Kurian sold 10,000 shares of NetApp stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $66.66, for a total value of $666,600.00. Following the transaction, the chief executive officer now owns 10,244 shares in the company, valued at $682,865.04. The disclosure for this sale can be found here. In the last three months, insiders sold 17,575 shares of company stock valued at $1,175,564. Corporate insiders own 0.19% of the company’s stock.

A number of research analysts recently weighed in on NTAP shares. Zacks Investment Research lowered NetApp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 16th. BidaskClub lowered NetApp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Goldman Sachs Group raised NetApp from a “neutral” rating to a “conviction-buy” rating and set a $91.00 price objective for the company in a research report on Wednesday, October 17th. UBS Group lowered NetApp from a “positive” rating to a “neutral” rating in a research report on Tuesday, October 23rd. Finally, Susquehanna Bancshares lowered NetApp from a “positive” rating to a “neutral” rating in a research report on Tuesday, October 23rd. Five analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $79.54.

NetApp stock opened at $65.93 on Tuesday. The firm has a market capitalization of $16.62 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.16 and a beta of 1.34. NetApp Inc. has a 12 month low of $52.00 and a 12 month high of $88.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.65 and a quick ratio of 1.63.

NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, November 14th. The data storage provider reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.07. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.51 billion. NetApp had a return on equity of 51.50% and a net margin of 4.70%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS. Equities research analysts forecast that NetApp Inc. will post 4.01 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 23rd. Shareholders of record on Friday, January 4th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Thursday, January 3rd. NetApp’s payout ratio is 53.51%.

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NetApp 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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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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