NetApp Inc. (NTAP) Holdings Lifted by Acadian Asset Management LLC
Acadian Asset Management LLC grew its stake in shares of NetApp Inc. (NASDAQ:NTAP) by 265.5% in the 4th quarter, HoldingsChannel reports. The fund owned 453,818 shares of the data storage provider’s stock after purchasing an additional 329,668 shares during the quarter. Acadian Asset Management LLC’s holdings in NetApp were worth $25,102,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank grew its holdings in NetApp by 25.4% during the 2nd quarter. Toronto Dominion Bank now owns 91,841 shares of the data storage provider’s stock worth $3,678,000 after acquiring an additional 18,613 shares in the last quarter. Personal Capital Advisors Corp acquired a new position in NetApp during the 3rd quarter worth $269,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in NetApp by 9.0% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,939 shares of the data storage provider’s stock worth $960,000 after acquiring an additional 1,809 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in NetApp by 18.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 46,379 shares of the data storage provider’s stock worth $2,030,000 after acquiring an additional 7,123 shares in the last quarter. Finally, Oakview Capital Management L.P. acquired a new position in NetApp during the 3rd quarter worth $24,533,000. 94.73% of the stock is owned by institutional investors.
Several research analysts have weighed in on NTAP shares. Morgan Stanley reissued an “underweight” rating on shares of NetApp in a report on Saturday, September 23rd. Drexel Hamilton reissued a “buy” rating and set a $62.00 price objective on shares of NetApp in a report on Monday, September 25th. DA Davidson reissued a “buy” rating and set a $51.00 price objective on shares of NetApp in a report on Monday, October 2nd. Robert W. Baird reissued a “hold” rating and set a $46.00 price objective (up from $44.00) on shares of NetApp in a report on Wednesday, October 4th. Finally, Zacks Investment Research raised shares of NetApp from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Wednesday, October 4th. Two equities research 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. The stock has a consensus rating of “Hold” and an average price target of $50.15.
Shares of NetApp Inc. (NASDAQ NTAP) opened at $63.09 on Friday. The firm has a market cap of $16,887.92, a PE ratio of 27.08, a P/E/G ratio of 2.02 and a beta of 1.29. NetApp Inc. has a 52-week low of $35.77 and a 52-week high of $63.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.12. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a net margin of 11.49% and a return on equity of 26.77%. NetApp’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $0.60 EPS. equities analysts predict that NetApp Inc. will post 2.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be given a $0.20 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.80 annualized dividend and a yield of 1.27%. NetApp’s dividend payout ratio is presently 34.33%.
NetApp Company Profile
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.
Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp Inc. (NASDAQ:NTAP).
Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.