NetApp Inc. (NTAP) Position Raised by Tower Research Capital LLC TRC
Tower Research Capital LLC TRC boosted its stake in shares of NetApp Inc. (NASDAQ:NTAP) by 2,458.8% during the second quarter, Holdings Channel reports. The fund owned 12,743 shares of the data storage provider’s stock after buying an additional 12,245 shares during the period. Tower Research Capital LLC TRC’s holdings in NetApp were worth $313,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Global X Management Co. LLC increased its position in shares of NetApp by 109.8% in the second quarter. Global X Management Co. LLC now owns 4,485 shares of the data storage provider’s stock valued at $110,000 after buying an additional 2,347 shares during the last quarter. FTB Advisors Inc. raised its position in shares of NetApp by 14.3% in the second quarter. FTB Advisors Inc. now owns 5,154 shares of the data storage provider’s stock valued at $126,000 after buying an additional 646 shares during the period. Creative Planning raised its position in shares of NetApp by 248.6% in the second quarter. Creative Planning now owns 10,495 shares of the data storage provider’s stock valued at $258,000 after buying an additional 7,484 shares during the period. Candriam Luxembourg S.C.A. bought a new position in shares of NetApp during the second quarter valued at approximately $260,000. Finally, Simmons Bank bought a new position in shares of NetApp during the first quarter valued at approximately $328,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.
NetApp Inc. (NASDAQ:NTAP) opened at 35.64 on Tuesday. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 32.08 and a beta of 1.56. The company has a 50 day moving average price of $32.17 and a 200-day moving average price of $26.91. NetApp Inc. has a 1-year low of $20.66 and a 1-year high of $36.07.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 17th. The data storage provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.10. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. NetApp had a return on equity of 15.82% and a net margin of 5.87%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS. On average, analysts forecast that NetApp Inc. will post $2.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Friday, October 7th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.76 dividend on an annualized basis and a yield of 2.13%. NetApp’s dividend payout ratio is currently 68.47%.
Several brokerages recently commented on NTAP. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of NetApp in a research report on Sunday, May 29th. Summit Redstone reaffirmed a “sell” rating on shares of NetApp in a research report on Tuesday, June 21st. Susquehanna reaffirmed a “neutral” rating and set a $23.00 price target (down previously from $25.00) on shares of NetApp in a research report on Thursday, May 26th. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $26.00 price target (up previously from $25.00) on shares of NetApp in a research report on Thursday, May 26th. Finally, JMP Securities reissued a “hold” rating and issued a $24.00 price objective (down previously from $26.00) on shares of NetApp in a research report on Thursday, May 26th. Ten analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $28.74.
In other news, VP Joel D. Reich sold 5,000 shares of the stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $25.96, for a total transaction of $129,800.00. Following the transaction, the vice president now directly owns 2,730 shares in the company, valued at approximately $70,870.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joel D. Reich sold 2,241 shares of the stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $24.35, for a total value of $54,568.35. Following the transaction, the vice president now owns 489 shares in the company, valued at $11,907.15. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.
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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