FUKOKU MUTUAL LIFE INSURANCE Co Continues to Hold Position in NetApp, Inc. (NTAP)
FUKOKU MUTUAL LIFE INSURANCE Co held its stake in NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,800 shares of the data storage provider’s stock at the end of the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in NetApp were worth $112,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. BTIM Corp. raised its position in shares of NetApp by 4.5% in the 2nd quarter. BTIM Corp. now owns 118,219 shares of the data storage provider’s stock valued at $4,735,000 after purchasing an additional 5,099 shares in the last quarter. Janus Capital Management LLC raised its position in shares of NetApp by 55.1% in the 1st quarter. Janus Capital Management LLC now owns 725,050 shares of the data storage provider’s stock valued at $30,343,000 after purchasing an additional 257,433 shares in the last quarter. Cantor Fitzgerald Investment Adviser L.P. acquired a new position in shares of NetApp in the 2nd quarter valued at approximately $280,000. Point72 Asia Hong Kong Ltd raised its position in shares of NetApp by 8,443.8% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 5,468 shares of the data storage provider’s stock valued at $229,000 after purchasing an additional 5,404 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK raised its position in shares of NetApp by 13.4% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 547,294 shares of the data storage provider’s stock valued at $21,918,000 after purchasing an additional 64,722 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.
In related news, EVP Henri P. Richard sold 3,952 shares of NetApp stock in a transaction on Friday, July 14th. The stock was sold at an average price of $42.20, for a total transaction of $166,774.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard P. Wallace sold 34,000 shares of NetApp stock in a transaction on Friday, September 29th. The stock was sold at an average price of $43.53, for a total value of $1,480,020.00. Following 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 52,450 shares of company stock valued at $2,250,560 over the last three months. Insiders own 0.47% of the company’s stock.
NTAP has been the topic of a number of recent analyst reports. BidaskClub lowered NetApp from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Morgan Stanley reaffirmed an “underweight” rating on shares of NetApp in a research report on Saturday, September 23rd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $45.00 target price on shares of NetApp in a research report on Friday, June 9th. ValuEngine lowered NetApp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Goldman Sachs Group, Inc. (The) raised NetApp from a “neutral” rating to a “buy” rating and upped their target price for the company from $46.00 to $47.00 in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $45.12.
Shares of NetApp, Inc. (NTAP) traded up 0.18% on Thursday, reaching $44.34. The company had a trading volume of 305,593 shares. NetApp, Inc. has a one year low of $30.36 and a one year high of $45.24. The firm has a market cap of $11.96 billion, a P/E ratio of 21.41 and a beta of 1.26. The company has a 50-day moving average price of $40.63 and a 200-day moving average price of $40.70.
NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.07. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.46 EPS. On average, analysts expect that NetApp, Inc. will post $3.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.80%. NetApp’s dividend payout ratio (DPR) is currently 38.65%.
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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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