World Asset Management Inc reduced its holdings in shares of NetApp Inc. (NASDAQ:NTAP) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,859 shares of the data storage provider’s stock after selling 768 shares during the quarter. World Asset Management Inc’s holdings in NetApp were worth $1,620,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Summit Trail Advisors LLC raised its position in NetApp by 6,367.4% in the first quarter. Summit Trail Advisors LLC now owns 2,773,654 shares of the data storage provider’s stock valued at $2,774,000 after purchasing an additional 2,730,767 shares during the last quarter. Renaissance Technologies LLC raised its position in NetApp by 270.0% in the second quarter. Renaissance Technologies LLC now owns 2,332,932 shares of the data storage provider’s stock valued at $183,205,000 after purchasing an additional 1,702,432 shares during the last quarter. American Century Companies Inc. raised its position in NetApp by 8,411.2% in the second quarter. American Century Companies Inc. now owns 1,696,205 shares of the data storage provider’s stock valued at $133,203,000 after purchasing an additional 1,676,276 shares during the last quarter. Bank of Montreal Can bought a new position in NetApp in the second quarter valued at about $111,089,000. Finally, Janus Henderson Group PLC raised its position in NetApp by 388.7% in the second quarter. Janus Henderson Group PLC now owns 1,375,800 shares of the data storage provider’s stock valued at $108,044,000 after purchasing an additional 1,094,273 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

In related news, CEO George Kurian sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $86.10, for a total transaction of $516,600.00. Following the completion of the sale, the chief executive officer now owns 29,479 shares of the company’s stock, valued at $2,538,141.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Henri P. Richard sold 2,525 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $79.60, for a total value of $200,990.00. Following the sale, the executive vice president now directly owns 70,732 shares of the company’s stock, valued at approximately $5,630,267.20. The disclosure for this sale can be found here. Insiders have sold 152,662 shares of company stock valued at $12,697,895 in the last ninety days. 0.19% of the stock is currently owned by insiders.

Several equities analysts have commented on NTAP shares. Bank of America increased their target price on NetApp from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, August 13th. BidaskClub downgraded NetApp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Guggenheim started coverage on NetApp in a research report on Thursday, July 12th. They issued a “buy” rating and a $94.00 target price for the company. DA Davidson reiterated a “buy” rating and issued a $90.00 target price (up from $83.00) on shares of NetApp in a research report on Monday, July 9th. Finally, Argus raised their price objective on NetApp to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 5th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $80.25.

Shares of NTAP opened at $76.92 on Friday. NetApp Inc. has a 1 year low of $43.24 and a 1 year high of $88.08. The stock has a market cap of $22.27 billion, a PE ratio of 25.73, a P/E/G ratio of 1.55 and a beta of 1.28. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.80.

NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, August 15th. The data storage provider reported $1.04 EPS for the quarter, topping the 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 business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the firm posted $0.62 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, research analysts anticipate that NetApp Inc. will post 3.91 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Friday, October 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, October 4th. This represents a $1.60 annualized dividend and a yield of 2.08%. NetApp’s dividend payout ratio is currently 53.51%.

NetApp Company Profile

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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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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