Gulf International Bank UK Ltd decreased its holdings in NetApp Inc. (NASDAQ:NTAP) by 28.3% in the 4th quarter, HoldingsChannel reports. The firm owned 64,710 shares of the data storage provider’s stock after selling 25,571 shares during the period. Gulf International Bank UK Ltd’s holdings in NetApp were worth $3,861,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of NTAP. CENTRAL TRUST Co raised its position in shares of NetApp by 589.7% in the 3rd quarter. CENTRAL TRUST Co now owns 1,276 shares of the data storage provider’s stock valued at $110,000 after buying an additional 1,091 shares in the last quarter. Cerebellum GP LLC acquired a new position in shares of NetApp in the 3rd quarter valued at approximately $182,000. Checchi Capital Advisers LLC acquired a new position in shares of NetApp in the 3rd quarter valued at approximately $201,000. Calamos Advisors LLC acquired a new position in shares of NetApp in the 3rd quarter valued at approximately $206,000. Finally, Warren Averett Asset Management LLC acquired a new position in shares of NetApp in the 3rd quarter valued at approximately $206,000. Institutional investors and hedge funds own 93.91% of the company’s stock.
NTAP opened at $61.65 on Friday. NetApp Inc. has a fifty-two week low of $52.00 and a fifty-two week high of $88.08. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.63 and a current ratio of 1.65. The company has a market cap of $15.16 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 1.05 and a beta of 1.33.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, November 14th. The data storage provider reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.07. NetApp had a net margin of 4.70% and a return on equity of 51.50%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the firm posted $0.81 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts forecast that NetApp Inc. will post 4.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Friday, January 4th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, January 3rd. NetApp’s payout ratio is 53.51%.
In other news, EVP Henri P. Richard sold 2,525 shares of the company’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $69.55, for a total value of $175,613.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO George Kurian sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $66.66, for a total transaction of $666,600.00. Following the completion of the sale, the chief executive officer now directly owns 10,244 shares in the company, valued at $682,865.04. The disclosure for this sale can be found here. Insiders have sold a total of 32,485 shares of company stock worth $2,403,904 over the last three months. Insiders own 0.19% of the company’s stock.
Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Thursday, December 13th. ValuEngine lowered shares of NetApp from a “buy” rating to a “hold” rating in a report on Friday, November 16th. Finally, Cowen began coverage on shares of NetApp in a report on Tuesday, December 11th. They set an “underperform” rating and a $53.00 price target on the stock. Three analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $80.13.
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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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