Pacer Advisors Inc. increased its holdings in NetApp Inc. (NASDAQ:NTAP) by 157.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,219 shares of the data storage provider’s stock after buying an additional 39,905 shares during the quarter. Pacer Advisors Inc.’s holdings in NetApp were worth $4,522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FTB Advisors Inc. lifted its holdings in NetApp by 14.6% during the fourth quarter. FTB Advisors Inc. now owns 1,318 shares of the data storage provider’s stock valued at $78,000 after purchasing an additional 168 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in NetApp by 2.3% during the fourth quarter. LS Investment Advisors LLC now owns 7,681 shares of the data storage provider’s stock valued at $458,000 after purchasing an additional 173 shares in the last quarter. Huntington National Bank lifted its holdings in NetApp by 13.4% during the fourth quarter. Huntington National Bank now owns 2,122 shares of the data storage provider’s stock valued at $127,000 after purchasing an additional 251 shares in the last quarter. Suntrust Banks Inc. lifted its holdings in NetApp by 6.8% during the fourth quarter. Suntrust Banks Inc. now owns 5,582 shares of the data storage provider’s stock valued at $333,000 after purchasing an additional 354 shares in the last quarter. Finally, CWM Advisors LLC lifted its holdings in NetApp by 12.1% during the fourth quarter. CWM Advisors LLC now owns 3,664 shares of the data storage provider’s stock valued at $219,000 after purchasing an additional 396 shares in the last quarter. 95.77% of the stock is currently owned by institutional investors.

In related news, VP Joel D. Reich sold 20,000 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $64.04, for a total value of $1,280,800.00. Following the sale, the vice president now owns 744 shares in the company, valued at $47,645.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Henri P. Richard sold 5,050 shares of the business’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $66.01, for a total transaction of $333,350.50. Following the completion of the sale, the executive vice president now owns 56,707 shares in the company, valued at approximately $3,743,229.07. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Several equities analysts have weighed in on NTAP shares. Bank of America reaffirmed a “buy” rating and set a $90.00 price target on shares of NetApp in a report on Monday, February 11th. Zacks Investment Research downgraded shares of NetApp from a “hold” rating to a “sell” rating in a report on Friday, January 18th. BidaskClub downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Cross Research raised shares of NetApp from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Finally, Morgan Stanley downgraded shares of NetApp from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $72.00 to $58.00 in a report on Tuesday, January 15th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. NetApp presently has a consensus rating of “Hold” and a consensus price target of $77.41.

NetApp stock opened at $74.25 on Thursday. The company has a market cap of $17.97 billion, a PE ratio of 24.83, a P/E/G ratio of 1.27 and a beta of 1.40. The company has a current ratio of 1.56, a quick ratio of 1.53 and a debt-to-equity ratio of 0.93. NetApp Inc. has a 1 year low of $54.50 and a 1 year high of $88.08.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, February 13th. The data storage provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.05. NetApp had a net margin of 16.85% and a return on equity of 60.32%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. NetApp’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, analysts anticipate that NetApp Inc. will post 4.04 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, April 4th. NetApp’s dividend payout ratio is presently 53.51%.

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NetApp Company Profile

NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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