NetApp, Inc. (NTAP) Shares Sold by Victory Capital Management Inc.
Victory Capital Management Inc. decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,668 shares of the data storage provider’s stock after selling 260 shares during the quarter. Victory Capital Management Inc.’s holdings in NetApp were worth $187,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the business. BTIM Corp. grew its holdings in NetApp by 4.5% in the second quarter. BTIM Corp. now owns 118,219 shares of the data storage provider’s stock valued at $4,735,000 after purchasing an additional 5,099 shares during the last quarter. Hancock Holding Co. acquired a new stake in NetApp in the first quarter valued at $1,446,000. Janus Capital Management LLC grew its holdings in NetApp by 55.1% in the first quarter. Janus Capital Management LLC now owns 725,050 shares of the data storage provider’s stock valued at $30,343,000 after purchasing an additional 257,433 shares during the last quarter. Cantor Fitzgerald Investment Adviser L.P. acquired a new stake in NetApp in the second quarter valued at $280,000. Finally, Point72 Asia Hong Kong Ltd grew its holdings in NetApp by 8,443.8% in the first quarter. Point72 Asia Hong Kong Ltd now owns 5,468 shares of the data storage provider’s stock valued at $229,000 after purchasing an additional 5,404 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.
Several analysts have weighed in on the company. BidaskClub raised NetApp from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Credit Suisse Group upped their target price on NetApp from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. Citigroup Inc. upped their target price on NetApp from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Barclays PLC upped their target price on NetApp from $35.00 to $38.00 and gave the company an “underweight” rating in a report on Thursday, August 17th. Finally, Morgan Stanley reissued an “underperform” rating and issued a $38.00 target price (up previously from $35.00) on shares of NetApp in a report on Thursday, August 17th. Three analysts have rated the stock with a sell rating, twenty-two have given a hold rating and fourteen have assigned a buy rating to the stock. NetApp presently has a consensus rating of “Hold” and an average target price of $43.89.
In other news, CEO George Kurian sold 59,697 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $39.93, for a total transaction of $2,383,701.21. Following the completion of the sale, the chief executive officer now owns 87,295 shares in the company, valued at approximately $3,485,689.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Joel D. Reich sold 9,031 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $39.81, for a total value of $359,524.11. Following the sale, the vice president now owns 10,902 shares of the company’s stock, valued at approximately $434,008.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,202 shares of company stock valued at $3,427,038. 0.47% of the stock is currently owned by corporate insiders.
Shares of NetApp, Inc. (NASDAQ NTAP) opened at 42.55 on Friday. The company’s 50 day moving average price is $40.34 and its 200 day moving average price is $40.60. The stock has a market capitalization of $11.48 billion, a P/E ratio of 20.55 and a beta of 1.22. NetApp, Inc. has a one year low of $30.36 and a one year high of $45.24.
NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.07. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS. On average, equities analysts expect that NetApp, Inc. will post $3.13 earnings per share for the current year.
The business also recently declared 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 annualized dividend and a dividend yield of 1.88%. NetApp’s dividend payout ratio (DPR) is presently 38.65%.
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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