OLD National Bancorp IN purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,971 shares of the data storage provider’s stock, valued at approximately $261,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Exane Derivatives boosted its position in NetApp by 59,850.0% during the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after purchasing an additional 2,394 shares in the last quarter. Krilogy Financial LLC bought a new stake in NetApp during the second quarter valued at about $122,000. Raymond James Trust N.A. bought a new stake in NetApp during the third quarter valued at about $208,000. Cambridge Investment Research Advisors Inc. boosted its position in NetApp by 3.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,189 shares of the data storage provider’s stock valued at $208,000 after purchasing an additional 185 shares in the last quarter. Finally, Eagle Global Advisors LLC bought a new stake in NetApp during the second quarter valued at about $210,000. 92.81% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on the company. BidaskClub downgraded NetApp from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Maxim Group reaffirmed a “buy” rating and set a $56.00 price objective on shares of NetApp in a research report on Friday, October 27th. Credit Suisse Group raised their price objective on NetApp from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Citigroup Inc. raised their price objective on NetApp from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $50.00 price objective (up previously from $48.00) on shares of NetApp in a research report on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $45.12.

In other news, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.01, for a total value of $83,011.76. Following the completion of the sale, the executive vice president now directly owns 17,812 shares of the company’s stock, valued at approximately $748,282.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard P. Wallace sold 34,000 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $43.53, for a total value of $1,480,020.00. Following the completion of the sale, the director now directly owns 24,132 shares of the company’s stock, valued at $1,050,465.96. The disclosure for this sale can be found here. Insiders sold a total of 42,522 shares of company stock valued at $1,823,327 over the last three months. Company insiders own 0.47% of the company’s stock.

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NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.07. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.46 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Thursday, October 5th. NetApp’s payout ratio is currently 38.65%.

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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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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