Thrivent Financial for Lutherans raised its holdings in NetApp Inc. (NASDAQ:NTAP) by 21.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,091 shares of the data storage provider’s stock after acquiring an additional 2,286 shares during the quarter. Thrivent Financial for Lutherans’ holdings in NetApp were worth $815,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of NTAP. Hoey Investments Inc. purchased a new stake in shares of NetApp during the fourth quarter valued at $25,000. Sowell Financial Services LLC raised its holdings in NetApp by 40.8% during the 4th quarter. Sowell Financial Services LLC now owns 642 shares of the data storage provider’s stock worth $40,000 after buying an additional 186 shares during the period. American National Bank acquired a new stake in NetApp during the 4th quarter worth about $54,000. Parallel Advisors LLC lifted its stake in NetApp by 30.9% during the fourth quarter. Parallel Advisors LLC now owns 1,423 shares of the data storage provider’s stock valued at $89,000 after buying an additional 336 shares in the last quarter. Finally, First Mercantile Trust Co. purchased a new stake in NetApp during the fourth quarter valued at about $105,000. 95.81% of the stock is owned by institutional investors.
Shares of NASDAQ:NTAP traded up $4.09 during midday trading on Thursday, hitting $41.78. 1,727,185 shares of the stock were exchanged, compared to its average volume of 3,519,276. The company has a market capitalization of $8.47 billion, a PE ratio of 9.83, a P/E/G ratio of 0.89 and a beta of 1.61. NetApp Inc. has a 52-week low of $34.66 and a 52-week high of $78.35. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.16 and a current ratio of 1.20. The business’s fifty day simple moving average is $47.76 and its two-hundred day simple moving average is $55.62.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, February 12th. The data storage provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). NetApp had a net margin of 18.19% and a return on equity of 123.49%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the firm earned $1.20 EPS. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that NetApp Inc. will post 3.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be issued a $0.48 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $1.92 dividend on an annualized basis and a yield of 4.60%. NetApp’s dividend payout ratio is currently 47.76%.
Several research analysts have recently weighed in on the stock. Oppenheimer reissued a “hold” rating on shares of NetApp in a research report on Wednesday, February 12th. Northland Securities assumed coverage on shares of NetApp in a research note on Thursday. They issued an “outperform” rating and a $49.00 price objective for the company. Credit Suisse Group lowered their price objective on shares of NetApp from $70.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. BidaskClub downgraded shares of NetApp from a “hold” rating to a “sell” rating in a research note on Thursday, March 5th. Finally, Argus downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. NetApp has a consensus rating of “Hold” and an average price target of $61.70.
In other NetApp news, EVP Henri P. Richard sold 2,500 shares of NetApp stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $64.20, for a total value of $160,500.00. Following the completion of the sale, the executive vice president now directly owns 143,855 shares in the company, valued at $9,235,491. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by company insiders.
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.
See Also: Gross Domestic Product (GDP)
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