Mitsubishi UFJ Trust & Banking Corp Has $24.45 Million Stake in NetApp, Inc. (NTAP)
Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 558,790 shares of the data storage provider’s stock after selling 3,057 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.21% of NetApp worth $24,453,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strs Ohio lifted its position in shares of NetApp by 8.2% during the 2nd quarter. Strs Ohio now owns 36,150 shares of the data storage provider’s stock worth $1,447,000 after buying an additional 2,737 shares during the last quarter. NGAM Advisors L.P. lifted its position in shares of NetApp by 5.4% during the 2nd quarter. NGAM Advisors L.P. now owns 72,981 shares of the data storage provider’s stock worth $2,923,000 after buying an additional 3,735 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of NetApp by 14.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 23,399 shares of the data storage provider’s stock worth $937,000 after buying an additional 2,971 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of NetApp by 0.9% during the 2nd quarter. CIBC Asset Management Inc now owns 31,161 shares of the data storage provider’s stock worth $1,248,000 after buying an additional 275 shares during the last quarter. Finally, Global X Management Co. LLC lifted its position in shares of NetApp by 15.8% during the 2nd quarter. Global X Management Co. LLC now owns 9,195 shares of the data storage provider’s stock worth $368,000 after buying an additional 1,253 shares during the last quarter. 93.92% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on the company. ValuEngine downgraded NetApp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BMO Capital Markets upgraded NetApp from a “market perform” rating to an “outperform” rating in a research report on Sunday, November 26th. UBS restated a “buy” rating and set a $62.00 price objective (up from $52.00) on shares of NetApp in a research report on Wednesday, November 22nd. Argus upped their price objective on NetApp from $46.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. Finally, Robert W. Baird reiterated a “hold” rating on shares of NetApp in a research report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $49.04.
In related news, CEO George Kurian sold 75,000 shares of NetApp stock in a transaction on 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 document filed with the SEC, which is available through the SEC website. Also, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction on Friday, December 1st. The stock was sold at an average price of $55.91, for a total value of $110,478.16. Following the sale, the executive vice president now owns 11,884 shares in the company, valued at $664,434.44. The disclosure for this sale can be found here. Insiders sold 187,036 shares of company stock worth $9,316,158 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.
NetApp, Inc. (NTAP) opened at $57.21 on Thursday. NetApp, Inc. has a fifty-two week low of $34.72 and a fifty-two week high of $58.11. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $14,977.69, a P/E ratio of 21.10, a PEG ratio of 1.82 and a beta of 1.28.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share 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 company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. sell-side analysts forecast that NetApp, Inc. will post 2.72 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be issued a $0.20 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. NetApp’s dividend payout ratio is presently 34.33%.
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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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