Brown Advisory Inc. decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 79.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,334 shares of the data storage provider’s stock after selling 220,244 shares during the period. Brown Advisory Inc.’s holdings in NetApp were worth $2,465,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Exane Derivatives grew its holdings in NetApp by 59,850.0% in the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after purchasing an additional 2,394 shares during the last quarter. First Personal Financial Services grew its holdings in NetApp by 27,540.0% in the third quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock worth $121,000 after purchasing an additional 2,754 shares during the last quarter. Krilogy Financial LLC purchased a new position in NetApp in the second quarter worth $122,000. Quantbot Technologies LP purchased a new position in NetApp in the third quarter worth $131,000. Finally, FTB Advisors Inc. grew its holdings in NetApp by 50.2% in the third quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock worth $199,000 after purchasing an additional 1,519 shares during the last quarter. 93.92% of the stock is owned by institutional investors.
In related news, CEO George Kurian sold 75,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $52.50, for a total transaction of $3,937,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George T. Shaheen sold 36,916 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $53.10, for a total transaction of $1,960,239.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 187,036 shares of company stock valued at $9,316,158. Insiders own 0.47% of the company’s stock.
NetApp, Inc. (NTAP) opened at $57.21 on Thursday. The firm has a market cap of $14,977.69, a PE ratio of 21.10, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. NetApp, Inc. has a 1 year low of $34.72 and a 1 year high of $58.11. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. sell-side analysts expect that NetApp, Inc. will post 2.72 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be given 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 (DPR) is currently 34.33%.
Several equities analysts have issued reports on the stock. Barclays lifted their price target on shares of NetApp from $35.00 to $38.00 and gave the stock an “underweight” rating in a report on Thursday, August 17th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $37.00 price target on shares of NetApp in a report on Wednesday, August 16th. Susquehanna Bancshares reaffirmed a “positive” rating and issued a $50.00 price target (up from $48.00) on shares of NetApp in a report on Wednesday, August 16th. Drexel Hamilton reaffirmed a “buy” rating and issued a $62.00 price target (up from $60.00) on shares of NetApp in a report on Friday, August 18th. Finally, BidaskClub lowered shares of NetApp from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $49.04.
NetApp Company Profile
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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