NetApp Inc. (NTAP) Shares Bought by Comerica Bank
Comerica Bank increased its position in NetApp Inc. (NASDAQ:NTAP) by 10.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,117 shares of the data storage provider’s stock after acquiring an additional 10,256 shares during the period. Comerica Bank’s holdings in NetApp were worth $6,552,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of NetApp by 559.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,025 shares of the data storage provider’s stock worth $223,000 after acquiring an additional 3,415 shares during the period. Summit Securities Group LLC bought a new stake in shares of NetApp in the fourth quarter worth $210,000. Boston Partners grew its holdings in shares of NetApp by 68.1% in the fourth quarter. Boston Partners now owns 12,127,140 shares of the data storage provider’s stock worth $670,873,000 after acquiring an additional 4,914,409 shares during the period. Victory Capital Management Inc. grew its holdings in shares of NetApp by 18.5% in the fourth quarter. Victory Capital Management Inc. now owns 106,968 shares of the data storage provider’s stock worth $5,918,000 after acquiring an additional 16,689 shares during the period. Finally, Engineers Gate Manager LP grew its holdings in shares of NetApp by 18.0% in the fourth quarter. Engineers Gate Manager LP now owns 43,139 shares of the data storage provider’s stock worth $2,386,000 after acquiring an additional 6,572 shares during the period. 94.96% of the stock is owned by institutional investors.
Several analysts recently commented on NTAP shares. Maxim Group reaffirmed a “buy” rating and issued a $56.00 price objective on shares of NetApp in a report on Friday, October 27th. Barclays raised NetApp from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $38.00 to $52.00 in a report on Thursday, November 9th. Royal Bank of Canada lifted their price objective on NetApp from $45.00 to $50.00 and gave the stock a “sector perform” rating in a report on Monday, November 13th. Piper Jaffray Companies set a $52.00 price objective on NetApp and gave the stock a “buy” rating in a report on Tuesday, November 14th. Finally, DA Davidson lifted their price objective on NetApp from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, twenty-one have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $52.81.
NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. equities research analysts expect that NetApp Inc. will post 2.76 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is 34.33%.
In other news, CEO George Kurian sold 75,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $52.50, for a total value of $3,937,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joel D. Reich sold 3,371 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $53.17, for a total value of $179,236.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 176,629 shares of company stock valued at $9,568,956. Corporate insiders own 0.47% of the company’s stock.
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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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