KBC Group NV lessened its position in NetApp, Inc. (NASDAQ:NTAP) by 49.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 159,319 shares of the data storage provider’s stock after selling 155,280 shares during the quarter. KBC Group NV owned approximately 0.06% of NetApp worth $6,972,000 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 NTAP. Strs Ohio lifted its stake in shares of NetApp by 8.2% in the 2nd quarter. Strs Ohio now owns 36,150 shares of the data storage provider’s stock valued at $1,447,000 after purchasing an additional 2,737 shares during the period. NGAM Advisors L.P. lifted its stake in shares of NetApp by 5.4% in the 2nd quarter. NGAM Advisors L.P. now owns 72,981 shares of the data storage provider’s stock valued at $2,923,000 after purchasing an additional 3,735 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of NetApp by 14.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 23,399 shares of the data storage provider’s stock valued at $937,000 after purchasing an additional 2,971 shares during the period. CIBC Asset Management Inc lifted its stake in shares of NetApp by 0.9% in the 2nd quarter. CIBC Asset Management Inc now owns 31,161 shares of the data storage provider’s stock valued at $1,248,000 after purchasing an additional 275 shares during the period. Finally, CAPROCK Group Inc. lifted its stake in shares of NetApp by 0.8% in the 2nd quarter. CAPROCK Group Inc. now owns 5,278 shares of the data storage provider’s stock valued at $211,000 after purchasing an additional 44 shares during the period. Institutional investors own 93.92% of the company’s stock.
A number of research analysts have recently commented on the company. BidaskClub cut NetApp from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Credit Suisse Group raised their price objective on NetApp from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Citigroup raised their price objective on NetApp from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. ValuEngine lowered NetApp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Susquehanna Bancshares reaffirmed a “positive” rating and set a $50.00 price objective (up previously from $48.00) on shares of NetApp in a research report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.04.
NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. research analysts predict that NetApp, Inc. will post 2.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. NetApp’s dividend payout ratio (DPR) is currently 34.33%.
In related news, Director Richard P. Wallace sold 34,000 shares of NetApp stock in a transaction on Friday, September 29th. The stock was sold at an average price of $43.53, for a total transaction of $1,480,020.00. Following the transaction, the director now directly owns 24,132 shares in the company, valued at $1,050,465.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction on Friday, December 1st. The shares were sold at an average price of $55.91, for a total value of $110,478.16. Following the transaction, the executive vice president now owns 11,884 shares in the company, valued at $664,434.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 187,036 shares of company stock worth $9,316,158. Company insiders own 0.47% of the company’s stock.
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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