Engineers Gate Manager LP decreased its position in NetApp Inc. (NASDAQ:NTAP) by 93.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,700 shares of the data storage provider’s stock after selling 114,210 shares during the period. Engineers Gate Manager LP’s holdings in NetApp were worth $605,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in NetApp by 16,433.3% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,488 shares of the data storage provider’s stock worth $116,000 after buying an additional 1,479 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in NetApp by 441.0% during the first quarter. Moneta Group Investment Advisors LLC now owns 1,650 shares of the data storage provider’s stock worth $102,000 after buying an additional 1,345 shares in the last quarter. Fortis Advisors LLC purchased a new stake in NetApp during the first quarter worth about $127,000. Atria Investments LLC purchased a new stake in NetApp during the second quarter worth about $209,000. Finally, Jaffetilchin Investment Partners LLC purchased a new stake in NetApp during the second quarter worth about $210,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ NTAP opened at $81.16 on Monday. NetApp Inc. has a 12-month low of $37.55 and a 12-month high of $83.60. The stock has a market capitalization of $21.43 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The company has a current ratio of 1.89, a quick ratio of 1.86 and a debt-to-equity ratio of 0.75.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, August 15th. The data storage provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.24. NetApp had a net margin of 1.29% and a return on equity of 33.87%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. equities analysts predict that NetApp Inc. will post 3.53 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, October 4th. NetApp’s dividend payout ratio (DPR) is presently 53.51%.

A number of analysts recently commented on NTAP shares. Argus boosted their price objective on shares of NetApp to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 5th. They noted that the move was a valuation call. DA Davidson reissued a “buy” rating and set a $90.00 price objective (up previously from $83.00) on shares of NetApp in a report on Monday, July 9th. Morgan Stanley boosted their price objective on shares of NetApp from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday. Deutsche Bank boosted their price objective on shares of NetApp from $40.00 to $43.00 and gave the stock a “sell” rating in a report on Thursday, May 24th. Finally, Piper Jaffray Companies boosted their price objective on shares of NetApp from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, May 24th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $76.37.

In other news, Director Gerald Held sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $73.99, for a total value of $295,960.00. Following the completion of the transaction, the director now owns 11,391 shares of the company’s stock, valued at $842,820.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO George Kurian sold 30,253 shares of the business’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $67.52, for a total transaction of $2,042,682.56. The disclosure for this sale can be found here. Insiders sold 239,983 shares of company stock worth $18,022,186 in the last ninety days. Insiders own 0.19% of the company’s stock.

NetApp Profile

NetApp, Inc provides software, systems, and services to manage and share date 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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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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