Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 9.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,939 shares of the data storage provider’s stock after purchasing an additional 1,809 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in NetApp were worth $960,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Neuberger Berman Group LLC grew its holdings in NetApp by 0.7% during the second quarter. Neuberger Berman Group LLC now owns 8,201 shares of the data storage provider’s stock valued at $328,000 after purchasing an additional 58 shares during the last quarter. HPM Partners LLC grew its stake in shares of NetApp by 1.1% in the second quarter. HPM Partners LLC now owns 9,955 shares of the data storage provider’s stock worth $399,000 after acquiring an additional 107 shares during the last quarter. Calamos Advisors LLC grew its stake in shares of NetApp by 2.4% in the second quarter. Calamos Advisors LLC now owns 6,895 shares of the data storage provider’s stock worth $276,000 after acquiring an additional 160 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of NetApp by 3.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,189 shares of the data storage provider’s stock worth $208,000 after acquiring an additional 185 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of NetApp by 0.3% in the second quarter. Arizona State Retirement System now owns 67,237 shares of the data storage provider’s stock worth $2,693,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 93.92% of the company’s stock.
NetApp, Inc. (NTAP) opened at $57.21 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. NetApp, Inc. has a twelve month low of $34.72 and a twelve month high of $58.11. The stock has a market capitalization of $14,977.69, a PE ratio of 21.10, a P/E/G ratio of 1.82 and a beta of 1.28.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be issued a $0.20 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. NetApp’s dividend payout ratio is 34.33%.
Several equities research analysts have recently issued reports on the stock. ValuEngine downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. BMO Capital Markets upgraded shares of NetApp from a “market perform” rating to an “outperform” rating in a research note on Sunday, November 26th. UBS restated a “buy” rating and issued a $62.00 price objective (up previously from $52.00) on shares of NetApp in a research note on Wednesday, November 22nd. Argus raised their price objective on shares of NetApp from $46.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, Robert W. Baird restated a “hold” rating on shares of NetApp in a research note on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $49.04.
In related news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $55.91, for a total value of $110,478.16. Following the completion of the sale, the executive vice president now directly owns 11,884 shares in the company, valued at $664,434.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard P. Wallace sold 34,000 shares of NetApp stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $43.53, for a total value of $1,480,020.00. Following the completion of the sale, the director now owns 24,132 shares of the company’s stock, valued at $1,050,465.96. The disclosure for this sale can be found here. Insiders sold 187,036 shares of company stock valued at $9,316,158 over the last ninety days. 0.47% of the stock is currently owned by company insiders.
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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