Global Retirement Partners LLC lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 62.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 479 shares of the data storage provider’s stock after buying an additional 185 shares during the period. Global Retirement Partners LLC’s holdings in NetApp were worth $35,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of NTAP. Bell Bank raised its stake in NetApp by 3.0% in the fourth quarter. Bell Bank now owns 61,118 shares of the data storage provider’s stock valued at $4,048,000 after buying an additional 1,798 shares during the period. Lapides Asset Management LLC raised its stake in NetApp by 8.9% in the fourth quarter. Lapides Asset Management LLC now owns 74,700 shares of the data storage provider’s stock valued at $4,948,000 after buying an additional 6,100 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in NetApp by 3.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 601,324 shares of the data storage provider’s stock valued at $39,831,000 after buying an additional 22,332 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of NetApp by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,392,522 shares of the data storage provider’s stock worth $92,234,000 after purchasing an additional 27,953 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of NetApp by 1,691.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 358,250 shares of the data storage provider’s stock worth $23,731,000 after purchasing an additional 338,250 shares during the period. 90.95% of the stock is owned by hedge funds and other institutional investors.
NTAP has been the topic of a number of recent research reports. Credit Suisse Group increased their target price on NetApp from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 3rd. Daiwa Capital Markets upgraded NetApp from a “neutral” rating to an “outperform” rating and set a $70.00 target price on the stock in a research note on Friday, February 26th. Deutsche Bank Aktiengesellschaft increased their target price on NetApp from $54.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, February 22nd. Stifel Nicolaus increased their price target on NetApp from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, February 25th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. increased their price target on NetApp from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $64.60.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, February 24th. The data storage provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. NetApp had a return on equity of 263.77% and a net margin of 12.44%. During the same period in the previous year, the company posted $1.16 EPS. On average, equities analysts forecast that NetApp, Inc. will post 3.08 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Friday, April 9th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Thursday, April 8th. NetApp’s dividend payout ratio is presently 54.39%.
NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Sync, NetApp Cloud Tiering, NetApp Global File Cache, NetApp SaaS Backup, NetApp Cloud Manager, NetApp Fabric Orchestrator, and NetApp Cloud Insights.
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