Ladenburg Thalmann Financial Services Inc. boosted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 28.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,708 shares of the data storage provider’s stock after purchasing an additional 5,539 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in NetApp were worth $1,085,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Boston Partners purchased a new position in shares of NetApp in the third quarter valued at about $315,629,000. Renaissance Technologies LLC increased its position in shares of NetApp by 781.1% in the second quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock valued at $133,750,000 after acquiring an additional 2,960,542 shares during the period. Janus Henderson Group PLC increased its position in shares of NetApp by 6,495.7% in the second quarter. Janus Henderson Group PLC now owns 2,312,525 shares of the data storage provider’s stock valued at $92,617,000 after acquiring an additional 2,277,464 shares during the period. BlackRock Inc. increased its position in shares of NetApp by 7.5% in the second quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock valued at $867,006,000 after acquiring an additional 1,517,967 shares during the period. Finally, FMR LLC increased its position in shares of NetApp by 89.2% in the second quarter. FMR LLC now owns 3,044,302 shares of the data storage provider’s stock valued at $121,924,000 after acquiring an additional 1,435,588 shares during the period. 94.71% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on NTAP shares. Maxim Group restated a “buy” rating and issued a $56.00 price objective on shares of NetApp in a research report on Friday, October 27th. DA Davidson restated a “buy” rating and issued a $51.00 price objective on shares of NetApp in a research report on Monday, October 2nd. Drexel Hamilton restated a “buy” rating and issued a $62.00 price objective on shares of NetApp in a research report on Monday, September 25th. Zacks Investment Research upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Wednesday, October 4th. Finally, UBS upgraded shares of NetApp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $42.00 to $45.00 in a research report on Tuesday, September 19th. Two equities 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 company. The company currently has a consensus rating of “Hold” and a consensus price target of $49.39.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. NetApp’s quarterly revenue was up 6.1% on a year-over-year basis. research analysts forecast that NetApp, Inc. will post 2.72 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is presently 34.33%.
In other NetApp news, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $43.89, for a total value of $86,726.64. Following the sale, the executive vice president now owns 15,836 shares in the company, valued at $695,042.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Joel D. Reich sold 3,371 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $53.17, for a total transaction of $179,236.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,060 shares of company stock worth $10,087,997. Corporate insiders own 0.47% of the company’s stock.
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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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