First Quadrant L P CA bought a new position in NetApp Inc. (NASDAQ:NTAP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,174 shares of the data storage provider’s stock, valued at approximately $274,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in NetApp by 87.5% during the first quarter. Meeder Asset Management Inc. now owns 662 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 309 shares in the last quarter. Hoey Investments Inc. grew its stake in NetApp by 125.0% during the second quarter. Hoey Investments Inc. now owns 900 shares of the data storage provider’s stock valued at $40,000 after acquiring an additional 500 shares in the last quarter. Aigen Investment Management LP purchased a new position in NetApp during the first quarter valued at approximately $50,000. Signaturefd LLC grew its stake in NetApp by 58.0% during the first quarter. Signaturefd LLC now owns 1,876 shares of the data storage provider’s stock valued at $78,000 after acquiring an additional 689 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in NetApp by 61.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,699 shares of the data storage provider’s stock valued at $102,000 after acquiring an additional 647 shares in the last quarter. Hedge funds and other institutional investors own 90.12% of the company’s stock.
Shares of NTAP opened at $44.30 on Friday. The firm has a market cap of $9.80 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.39 and a beta of 1.30. The company has a debt-to-equity ratio of 4.74, a quick ratio of 1.14 and a current ratio of 1.18. NetApp Inc. has a fifty-two week low of $34.66 and a fifty-two week high of $65.38. The firm has a 50 day moving average price of $43.48 and a 200-day moving average price of $46.28.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, May 27th. The data storage provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.04 by $0.15. NetApp had a net margin of 15.13% and a return on equity of 168.65%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the firm earned $1.22 earnings per share. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, equities research analysts predict that NetApp Inc. will post 2.68 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Thursday, July 9th. NetApp’s payout ratio is 54.39%.
NTAP has been the subject of several recent analyst reports. Susquehanna Bancshares reaffirmed a “buy” rating and set a $60.00 price objective on shares of NetApp in a research note on Friday, July 10th. BidaskClub cut shares of NetApp from a “sell” rating to a “strong sell” rating in a research note on Friday, May 29th. Northland Securities reiterated a “buy” rating and set a $51.00 target price on shares of NetApp in a research report on Wednesday, July 1st. William Blair reiterated a “hold” rating on shares of NetApp in a research report on Thursday, June 4th. Finally, Bank of America upgraded shares of NetApp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $50.00 to $55.00 in a research report on Friday, June 26th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $50.89.
NetApp, Inc provides software, systems, and services to manage and share data 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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