Creative Planning lowered its position in NetApp, Inc. (NASDAQ:NTAP) by 26.4% during the second quarter, Holdings Channel reports. The fund owned 3,887 shares of the data storage provider’s stock after selling 1,395 shares during the period. Creative Planning’s holdings in NetApp were worth $156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in NetApp by 2.4% in the first quarter. Vanguard Group Inc. now owns 26,733,109 shares of the data storage provider’s stock worth $1,118,781,000 after buying an additional 621,932 shares during the last quarter. BlackRock Inc. raised its position in NetApp by 1,529.1% in the first quarter. BlackRock Inc. now owns 20,130,070 shares of the data storage provider’s stock worth $842,443,000 after buying an additional 18,894,401 shares during the last quarter. Schroder Investment Management Group raised its position in NetApp by 10.7% in the first quarter. Schroder Investment Management Group now owns 3,149,828 shares of the data storage provider’s stock worth $131,978,000 after buying an additional 304,535 shares during the last quarter. Geode Capital Management LLC raised its position in NetApp by 5.7% in the first quarter. Geode Capital Management LLC now owns 3,042,360 shares of the data storage provider’s stock worth $127,165,000 after buying an additional 164,120 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its position in NetApp by 23.4% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 2,929,250 shares of the data storage provider’s stock worth $122,589,000 after buying an additional 556,016 shares during the last quarter. 91.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NetApp, Inc. (NTAP) traded up 0.41% on Friday, reaching $41.45. The company’s stock had a trading volume of 575,178 shares. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of 22.90 and a beta of 1.21. NetApp, Inc. has a 1-year low of $27.99 and a 1-year high of $45.24. The company’s 50 day moving average is $41.88 and its 200-day moving average is $40.56.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, May 24th. The data storage provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. NetApp had a return on equity of 21.66% and a net margin of 9.22%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts expect that NetApp, Inc. will post $3.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.94%. This is a boost from NetApp’s previous quarterly dividend of $0.19. The ex-dividend date was Wednesday, July 5th. NetApp’s dividend payout ratio (DPR) is presently 44.20%.

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A number of research analysts recently issued reports on NTAP shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $37.00 target price on shares of NetApp in a report on Friday, May 26th. Drexel Hamilton reaffirmed a “buy” rating and set a $62.00 target price on shares of NetApp in a report on Wednesday, May 24th. Zacks Investment Research raised NetApp from a “sell” rating to a “hold” rating in a research note on Monday, May 8th. Credit Suisse Group raised NetApp from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $35.00 to $37.00 in a research note on Thursday, May 25th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $45.00 price target on shares of NetApp in a research note on Friday, June 9th. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have assigned a buy rating to the stock. NetApp currently has an average rating of “Hold” and a consensus price target of $41.63.

In other news, CEO George Kurian sold 59,697 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $39.93, for a total value of $2,383,701.21. Following the completion of the sale, the chief executive officer now directly owns 87,295 shares of the company’s stock, valued at $3,485,689.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Matthew K. Fawcett sold 6,792 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $39.58, for a total value of $268,827.36. Following the completion of the sale, the senior vice president now directly owns 2,117 shares of the company’s stock, valued at $83,790.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,518 shares of company stock valued at $4,726,762. Insiders own 0.47% of the company’s stock.

About NetApp

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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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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