National Pension Service raised its holdings in NetApp Inc. (NASDAQ:NTAP) by 5.4% in the third quarter, Holdings Channel.com reports. The fund owned 351,672 shares of the data storage provider’s stock after acquiring an additional 17,953 shares during the quarter. National Pension Service’s holdings in NetApp were worth $18,466,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC lifted its stake in NetApp by 113.0% in the second quarter. CWM LLC now owns 639 shares of the data storage provider’s stock valued at $39,000 after acquiring an additional 339 shares during the last quarter. Rational Advisors LLC lifted its stake in NetApp by 1,256.9% in the second quarter. Rational Advisors LLC now owns 692 shares of the data storage provider’s stock valued at $43,000 after acquiring an additional 641 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in NetApp in the third quarter valued at approximately $40,000. Cullen Frost Bankers Inc. lifted its stake in NetApp by 6,900.0% in the second quarter. Cullen Frost Bankers Inc. now owns 770 shares of the data storage provider’s stock valued at $48,000 after acquiring an additional 759 shares during the last quarter. Finally, NEXT Financial Group Inc acquired a new stake in NetApp in the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 99.41% of the company’s stock.
NTAP has been the subject of a number of analyst reports. Cowen lifted their target price on shares of NetApp from $45.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 4th. Citigroup reiterated a “sell” rating and issued a $40.00 target price (down from $55.00) on shares of NetApp in a research note on Friday, August 16th. Morgan Stanley set a $41.00 target price on shares of NetApp and gave the company a “sell” rating in a research note on Monday, September 30th. ValuEngine upgraded shares of NetApp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research cut shares of NetApp from a “strong-buy” rating to a “hold” rating and set a $73.00 price objective for the company. in a research note on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company. NetApp currently has a consensus rating of “Hold” and a consensus price target of $62.85.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, November 13th. The data storage provider reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.15. NetApp had a net margin of 17.20% and a return on equity of 95.04%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. NetApp’s revenue was down 9.6% compared to the same quarter last year. Equities research analysts anticipate that NetApp Inc. will post 3.73 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Friday, January 3rd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Thursday, January 2nd. NetApp’s dividend payout ratio (DPR) is currently 47.76%.
NetApp, Inc provides software, systems, and services to manage and share data 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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