Paloma Partners Management Co Trims Holdings in NetApp Inc. (NTAP)
Paloma Partners Management Co decreased its position in NetApp Inc. (NASDAQ:NTAP) by 47.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,729 shares of the data storage provider’s stock after selling 6,071 shares during the quarter. Paloma Partners Management Co’s holdings in NetApp were worth $529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC boosted its holdings in shares of NetApp by 441.0% in the 1st quarter. Moneta Group Investment Advisors LLC now owns 1,650 shares of the data storage provider’s stock worth $102,000 after purchasing an additional 1,345 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of NetApp by 16,433.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,488 shares of the data storage provider’s stock worth $116,000 after purchasing an additional 1,479 shares during the period. Fortis Advisors LLC purchased a new position in shares of NetApp in the 1st quarter worth approximately $127,000. Mount Yale Investment Advisors LLC purchased a new position in shares of NetApp in the 1st quarter worth approximately $191,000. Finally, Greenleaf Trust purchased a new position in shares of NetApp in the 2nd quarter worth approximately $206,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Henri P. Richard sold 2,525 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $84.12, for a total transaction of $212,403.00. Following the completion of the transaction, the executive vice president now owns 68,390 shares in the company, valued at approximately $5,752,966.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joel D. Reich sold 25,000 shares of the company’s stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $78.04, for a total value of $1,951,000.00. Following the completion of the sale, the vice president now owns 7,760 shares of the company’s stock, valued at $605,590.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,024 shares of company stock valued at $10,648,218. 0.19% of the stock is owned by company insiders.
NTAP opened at $86.85 on Monday. NetApp Inc. has a 52-week low of $41.70 and a 52-week high of $88.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.06 and a quick ratio of 2.03. The firm has a market cap of $22.52 billion, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 1.57 and a beta of 1.27.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 15th. The data storage provider reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.24. NetApp had a return on equity of 41.75% and a net margin of 3.68%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business earned $0.62 EPS. NetApp’s revenue was up 11.6% compared to the same quarter last year. research analysts forecast that NetApp Inc. will post 3.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Friday, October 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Thursday, October 4th. NetApp’s payout ratio is currently 53.51%.
NetApp, Inc provides software, systems, and services to manage and share date 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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