Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in NetApp, Inc. (NTAP)
Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,645 shares of the data storage provider’s stock after selling 366 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.08% of NetApp worth $8,677,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in NTAP. Neuberger Berman Group LLC boosted its stake in shares of NetApp by 0.7% in the second quarter. Neuberger Berman Group LLC now owns 8,201 shares of the data storage provider’s stock worth $328,000 after buying an additional 58 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of NetApp by 9.5% in the second quarter. Pacer Advisors Inc. now owns 7,211 shares of the data storage provider’s stock worth $289,000 after buying an additional 623 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of NetApp by 0.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 561,847 shares of the data storage provider’s stock worth $22,502,000 after buying an additional 1,742 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of NetApp by 18.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 68,161 shares of the data storage provider’s stock worth $2,730,000 after buying an additional 10,530 shares during the last quarter. Finally, Airain ltd acquired a new stake in shares of NetApp during the second quarter worth about $1,344,000. Hedge funds and other institutional investors own 91.85% of the company’s stock.
NetApp, Inc. (NASDAQ:NTAP) opened at 38.22 on Thursday. The company has a market capitalization of $10.32 billion, a PE ratio of 18.45 and a beta of 1.21. NetApp, Inc. has a 52 week low of $30.36 and a 52 week high of $45.24. The firm’s 50-day moving average price is $41.93 and its 200 day moving average price is $40.73.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts expect that NetApp, Inc. will post $3.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.09%. NetApp’s dividend payout ratio is currently 38.65%.
NTAP has been the subject of a number of recent research reports. Zacks Investment Research raised shares of NetApp from a “sell” rating to a “hold” rating in a research report on Monday, May 8th. OTR Global raised shares of NetApp to a “positive” rating in a research report on Monday, May 15th. Bank of America Corporation reissued a “neutral” rating and issued a $48.00 target price (up previously from $45.00) on shares of NetApp in a research report on Wednesday, May 17th. Drexel Hamilton reissued a “buy” rating and issued a $62.00 target price on shares of NetApp in a research report on Wednesday, May 24th. Finally, Credit Suisse Group raised shares of NetApp from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $35.00 to $37.00 in a research report on Thursday, May 25th. Three equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $43.70.
In other NetApp news, CEO George Kurian sold 59,697 shares of NetApp 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 of the company’s stock, valued at approximately $3,485,689.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $43.41, for a total value of $85,778.16. Following the sale, the executive vice president now directly owns 19,788 shares of the company’s stock, valued at approximately $858,997.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,518 shares of company stock valued at $3,757,082. 0.47% of the stock is currently owned by insiders.
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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