Great West Life Assurance Co. Can lifted its position in NetApp Inc. (NASDAQ:NTAP) by 16.0% during the 1st quarter, Holdings Channel reports. The firm owned 358,297 shares of the data storage provider’s stock after buying an additional 49,450 shares during the quarter. Great West Life Assurance Co. Can’s holdings in NetApp were worth $24,798,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its position in NetApp by 3,540.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,050,717 shares of the data storage provider’s stock worth $101,000 after buying an additional 5,884,508 shares in the last quarter. Norges Bank acquired a new position in NetApp during the 4th quarter worth about $207,190,000. Bank of New York Mellon Corp lifted its position in NetApp by 45.4% during the 4th quarter. Bank of New York Mellon Corp now owns 3,582,797 shares of the data storage provider’s stock worth $213,787,000 after buying an additional 1,119,253 shares in the last quarter. First Trust Advisors LP lifted its position in NetApp by 34.9% during the 4th quarter. First Trust Advisors LP now owns 2,975,676 shares of the data storage provider’s stock worth $177,559,000 after buying an additional 769,122 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in NetApp by 35.2% during the 1st quarter. Bank of Montreal Can now owns 2,572,566 shares of the data storage provider’s stock worth $178,383,000 after buying an additional 670,441 shares in the last quarter. 91.87% of the stock is currently owned by institutional investors and hedge funds.
NetApp stock opened at $61.99 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.53 and a current ratio of 1.56. NetApp Inc. has a 1 year low of $54.50 and a 1 year high of $88.08. The stock has a market cap of $15.31 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 1.01 and a beta of 1.40.
NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, May 22nd. The data storage provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.03). NetApp had a net margin of 16.85% and a return on equity of 60.32%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts forecast that NetApp Inc. will post 4.04 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, July 3rd. This is an increase from NetApp’s previous quarterly dividend of $0.40. This represents a $1.92 dividend on an annualized basis and a yield of 3.10%. NetApp’s dividend payout ratio is presently 53.51%.
Several research analysts recently issued reports on the stock. BidaskClub upgraded shares of NetApp from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Credit Suisse Group assumed coverage on shares of NetApp in a research report on Thursday, April 11th. They set an “outperform” rating and a $89.00 price target on the stock. Piper Jaffray Companies reduced their price target on shares of NetApp from $90.00 to $81.00 and set an “overweight” rating on the stock in a research report on Friday, May 17th. Maxim Group reduced their price target on shares of NetApp to $86.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Loop Capital reduced their price target on shares of NetApp to $78.00 and set a “buy” rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. NetApp presently has an average rating of “Hold” and an average target price of $77.00.
NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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