10,557 Shares in NetApp, Inc. (NTAP) Acquired by Menta Capital LLC
Menta Capital LLC bought a new position in NetApp, Inc. (NASDAQ:NTAP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,557 shares of the data storage provider’s stock, valued at approximately $442,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI purchased a new position in NetApp during the fourth quarter worth approximately $264,000. Comerica Bank increased its position in NetApp by 2.4% in the fourth quarter. Comerica Bank now owns 69,890 shares of the data storage provider’s stock worth $2,511,000 after buying an additional 1,620 shares in the last quarter. Employees Retirement System of Texas increased its position in NetApp by 59.3% in the fourth quarter. Employees Retirement System of Texas now owns 43,000 shares of the data storage provider’s stock worth $1,517,000 after buying an additional 16,000 shares in the last quarter. Janus Capital Management LLC increased its position in NetApp by 1,105.8% in the fourth quarter. Janus Capital Management LLC now owns 467,617 shares of the data storage provider’s stock worth $16,493,000 after buying an additional 428,837 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new position in NetApp during the fourth quarter worth approximately $118,000. 92.18% of the stock is currently owned by institutional investors.
Shares of NetApp, Inc. (NASDAQ:NTAP) opened at 39.63 on Wednesday. The stock’s 50 day moving average price is $39.68 and its 200 day moving average price is $39.16. NetApp, Inc. has a 1-year low of $22.89 and a 1-year high of $43.14. The company has a market capitalization of $10.77 billion, a price-to-earnings ratio of 21.90 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, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.44 billion. NetApp had a net margin of 9.22% and a return on equity of 21.66%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. Analysts expect that NetApp, Inc. will post $3.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th will be given a dividend of $0.20 per share. This is a boost from NetApp’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, July 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.02%. NetApp’s payout ratio is presently 41.99%.
NTAP has been the topic of a number of research reports. Wells Fargo & Company reiterated a “market perform” rating and set a $40.00 price target on shares of NetApp in a research report on Thursday, March 16th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $48.00 price target on shares of NetApp in a research report on Friday, March 31st. Drexel Hamilton reiterated a “buy” rating on shares of NetApp in a research report on Monday, April 3rd. Zacks Investment Research cut NetApp from a “buy” rating to a “hold” rating in a research report on Monday, April 3rd. Finally, Robert W. Baird increased their price target on NetApp from $43.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 4th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have assigned a buy rating to the stock. NetApp has an average rating of “Hold” and a consensus target price of $41.42.
In other NetApp news, CEO George Kurian sold 4,000 shares of the company’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $41.53, for a total transaction of $166,120.00. Following the completion of the sale, the chief executive officer now owns 24,396 shares in the company, valued at approximately $1,013,165.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffry R. Allen sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $40.46, for a total transaction of $809,200.00. Following the sale, the director now owns 8,500 shares of the company’s stock, valued at approximately $343,910. The disclosure for this sale can be found here. Insiders have sold a total of 46,862 shares of company stock valued at $1,882,464 in the last quarter. Corporate insiders own 0.49% 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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