NetApp, Inc. (NTAP) Shares Sold by AHL Partners LLP
AHL Partners LLP decreased its stake in NetApp, Inc. (NASDAQ:NTAP) by 45.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,750 shares of the data storage provider’s stock after selling 127,157 shares during the quarter. AHL Partners LLP owned approximately 0.06% of NetApp worth $6,038,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. American Beacon Advisors Inc. acquired a new position in NetApp during the first quarter worth about $110,000. Cambridge Investment Research Advisors Inc. boosted its position in NetApp by 3.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,189 shares of the data storage provider’s stock worth $208,000 after acquiring an additional 185 shares during the last quarter. Eagle Global Advisors LLC acquired a new position in NetApp during the second quarter worth about $210,000. CAPROCK Group Inc. boosted its position in NetApp by 0.8% during the second quarter. CAPROCK Group Inc. now owns 5,278 shares of the data storage provider’s stock worth $211,000 after acquiring an additional 44 shares during the last quarter. Finally, Pitcairn Co. acquired a new position in NetApp during the second quarter worth about $211,000. Institutional investors and hedge funds own 92.08% of the company’s stock.
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NetApp, Inc. (NASDAQ:NTAP) opened at 44.55 on Friday. The firm has a market cap of $12.02 billion, a PE ratio of 21.51 and a beta of 1.26. The firm’s 50-day moving average is $40.69 and its 200 day moving average is $40.73. NetApp, Inc. has a 12-month low of $30.36 and a 12-month high of $45.24.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.07. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. Equities research analysts predict that NetApp, Inc. will post $3.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.80%. NetApp’s dividend payout ratio is currently 38.65%.
A number of equities analysts recently weighed in on the stock. Susquehanna Bancshares Inc restated a “positive” rating and set a $50.00 price target (up from $48.00) on shares of NetApp in a research report on Wednesday, August 16th. Stifel Nicolaus restated a “hold” rating and set a $37.00 price target on shares of NetApp in a research report on Wednesday, August 16th. Barclays PLC boosted their price target on shares of NetApp from $35.00 to $38.00 and gave the stock an “underweight” rating in a research report on Thursday, August 17th. Lake Street Capital boosted their price target on shares of NetApp from $43.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, Drexel Hamilton restated a “buy” rating and set a $62.00 price target (up from $60.00) on shares of NetApp in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $45.12.
In other news, EVP Henri P. Richard sold 3,952 shares of NetApp stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $42.20, for a total transaction of $166,774.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard P. Wallace sold 34,000 shares of NetApp stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $43.53, for a total transaction of $1,480,020.00. Following the sale, the director now owns 24,132 shares in the company, valued at approximately $1,050,465.96. The disclosure for this sale can be found here. Insiders have sold 52,450 shares of company stock worth $2,250,560 in the last quarter. Insiders own 0.47% 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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