Great West Life Assurance Co. Can decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 206,126 shares of the data storage provider’s stock after selling 10,915 shares during the period. Great West Life Assurance Co. Can’s holdings in NetApp were worth $8,249,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. American Beacon Advisors Inc. acquired a new position in shares of NetApp during the first quarter worth approximately $110,000. Carroll Financial Associates Inc. acquired a new position in shares of NetApp during the first quarter worth approximately $123,000. NJ State Employees Deferred Compensation Plan acquired a new position in shares of NetApp during the first quarter worth approximately $209,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of NetApp during the first quarter worth approximately $209,000. Finally, Eagle Global Advisors LLC acquired a new position in shares of NetApp during the second quarter worth approximately $210,000. Institutional investors own 91.25% of the company’s stock.
NetApp, Inc. (NTAP) opened at 41.49 on Friday. NetApp, Inc. has a 1-year low of $28.32 and a 1-year high of $45.24. The stock has a 50 day moving average price of $41.95 and a 200 day moving average price of $40.60. The company has a market cap of $11.27 billion, a P/E ratio of 22.92 and a beta of 1.21.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, May 24th. The data storage provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. NetApp had a return on equity of 21.66% and a net margin of 9.22%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that NetApp, Inc. will post $3.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were paid a $0.20 dividend. This is an increase from NetApp’s previous quarterly dividend of $0.19. The ex-dividend date was Wednesday, July 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.93%. NetApp’s dividend payout ratio is presently 44.20%.
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A number of equities analysts recently commented on the company. Credit Suisse Group upped their target price on NetApp from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday. Zacks Investment Research upgraded NetApp from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Royal Bank Of Canada reiterated a “hold” rating on shares of NetApp in a report on Friday, April 28th. UBS AG upgraded NetApp from a “sell” rating to a “neutral” rating and set a $40.00 price objective for the company in a report on Friday, May 26th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $44.00 price objective (down previously from $47.00) on shares of NetApp in a report on Thursday, May 25th. Four research analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have given a buy rating to the stock. NetApp has an average rating of “Hold” and a consensus price target of $41.63.
In other news, Director Jeffry R. Allen sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $40.46, for a total value of $809,200.00. Following the sale, the director now owns 8,500 shares in the company, valued at $343,910. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George Kurian sold 4,000 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $43.67, for a total value of $174,680.00. Following the completion of the sale, the chief executive officer now owns 27,598 shares in the company, valued at approximately $1,205,204.66. The disclosure for this sale can be found here. Insiders sold 117,518 shares of company stock worth $4,726,762 in the last 90 days. 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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