NetApp, Inc. (NTAP) Shares Sold by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky lowered its stake in NetApp, Inc. (NASDAQ:NTAP) by 38.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,178 shares of the data storage provider’s stock after selling 140,422 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.08% of NetApp worth $10,029,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Exane Derivatives grew its position in NetApp by 59,850.0% in the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after purchasing an additional 2,394 shares during the period. First Personal Financial Services grew its position in NetApp by 27,540.0% in the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock valued at $121,000 after purchasing an additional 2,754 shares during the period. Quantbot Technologies LP acquired a new stake in NetApp in the 3rd quarter valued at $131,000. Krilogy Financial LLC acquired a new stake in NetApp in the 2nd quarter valued at $122,000. Finally, Pillar Pacific Capital Management LLC acquired a new stake in NetApp in the 3rd quarter valued at $206,000. Institutional investors own 97.27% of the company’s stock.
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 transaction of $3,937,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $42.01, for a total value of $83,011.76. Following the sale, the executive vice president now owns 17,812 shares in the company, valued at $748,282.12. The disclosure for this sale can be found here. Insiders sold a total of 189,630 shares of company stock worth $9,379,249 over the last 90 days. 0.47% of the stock is currently owned by company insiders.
Several analysts recently issued reports on the stock. UBS AG reissued a “buy” rating and issued a $62.00 price target (up previously from $52.00) on shares of NetApp in a research report on Wednesday. ValuEngine raised shares of NetApp from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. Argus lifted their price target on shares of NetApp from $46.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 17th. Royal Bank Of Canada lifted their price target on shares of NetApp from $45.00 to $50.00 and gave the company a “sector perform” rating in a research report on Monday, November 13th. Finally, Piper Jaffray Companies set a $52.00 price target on shares of NetApp and gave the company a “buy” rating in a research report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. NetApp has an average rating of “Hold” and an average price target of $49.04.
Shares of NetApp, Inc. (NASDAQ:NTAP) opened at $56.41 on Friday. NetApp, Inc. has a 52 week low of $34.72 and a 52 week high of $56.55. The stock has a market capitalization of $15,217.05, a PE ratio of 21.21, a P/E/G ratio of 1.83 and a beta of 1.16. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the business posted $0.60 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. equities analysts anticipate that NetApp, Inc. will post 2.72 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s dividend payout ratio is currently 34.33%.
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.
Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp, Inc. (NASDAQ:NTAP).
Receive News & Ratings for NetApp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.