NetApp, Inc. (NTAP) Shares Bought by Wellington Management Group LLP
Wellington Management Group LLP increased its stake in NetApp, Inc. (NASDAQ:NTAP) by 3,256.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 819,339 shares of the data storage provider’s stock after buying an additional 794,928 shares during the period. Wellington Management Group LLP’s holdings in NetApp were worth $34,289,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of NTAP. Principal Financial Group Inc. boosted its position in NetApp by 20.4% in the first quarter. Principal Financial Group Inc. now owns 519,987 shares of the data storage provider’s stock valued at $21,761,000 after buying an additional 88,130 shares during the period. United Services Automobile Association boosted its position in NetApp by 242.7% in the first quarter. United Services Automobile Association now owns 630,219 shares of the data storage provider’s stock valued at $26,375,000 after buying an additional 446,343 shares during the period. Rafferty Asset Management LLC boosted its position in NetApp by 29.7% in the first quarter. Rafferty Asset Management LLC now owns 123,912 shares of the data storage provider’s stock valued at $5,186,000 after buying an additional 28,346 shares during the period. ClariVest Asset Management LLC bought a new position in NetApp during the first quarter valued at $20,913,000. Finally, Alliancebernstein L.P. boosted its position in NetApp by 16.4% in the first quarter. Alliancebernstein L.P. now owns 600,881 shares of the data storage provider’s stock valued at $25,147,000 after buying an additional 84,748 shares during the period. Institutional investors own 92.44% of the company’s stock.
NetApp, Inc. (NASDAQ NTAP) opened at 39.11 on Friday. The company has a market capitalization of $10.56 billion, a P/E ratio of 21.61 and a beta of 1.21. The stock’s 50 day moving average price is $39.68 and its 200 day moving average price is $39.16. NetApp, Inc. has a one year low of $22.89 and a one year high of $43.14.
NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, May 24th. The data storage provider reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.04. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.44 billion. NetApp had a return on equity of 21.66% and a net margin of 9.22%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS. Equities analysts anticipate that NetApp, Inc. will post $3.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.05%. This is a positive change from NetApp’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, July 5th. NetApp’s payout ratio is presently 41.99%.
Several research firms recently weighed in on NTAP. BidaskClub cut shares of NetApp from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Royal Bank Of Canada restated a “hold” rating and issued a $45.00 price objective on shares of NetApp in a research report on Friday, June 9th. Stifel Nicolaus restated a “hold” rating and issued a $37.00 price objective on shares of NetApp in a research report on Friday, May 26th. Jefferies Group LLC decreased their price objective on shares of NetApp from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday, May 25th. Finally, Citigroup Inc. decreased their price objective on shares of NetApp from $46.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, May 25th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $41.42.
In related news, CEO George Kurian sold 4,000 shares of the company’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $41.53, for a total transaction of $166,120.00. Following the transaction, the chief executive officer now directly owns 24,396 shares of the company’s stock, valued at approximately $1,013,165.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew K. Fawcett sold 8,070 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $39.38, for a total value of $317,796.60. Following the transaction, the senior vice president now directly owns 8,367 shares in the company, valued at $329,492.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,862 shares of company stock valued at $1,882,464. Corporate insiders own 0.49% of the company’s stock.
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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