NetApp (NASDAQ:NTAP) – Equities researchers at KeyCorp raised their FY2018 earnings per share (EPS) estimates for NetApp in a note issued to investors on Monday, April 16th. KeyCorp analyst A. Kurtz now anticipates that the data storage provider will earn $2.92 per share for the year, up from their previous estimate of $2.91. KeyCorp also issued estimates for NetApp’s Q4 2018 earnings at $0.87 EPS.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.08. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.49 billion. NetApp had a negative net margin of 0.09% and a positive return on equity of 29.38%. During the same quarter in the prior year, the company posted $0.82 earnings per share.
Shares of NASDAQ NTAP opened at $69.22 on Wednesday. NetApp has a twelve month low of $37.43 and a twelve month high of $69.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.91 and a quick ratio of 1.88. The stock has a market capitalization of $18,291.08, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 2.26 and a beta of 1.27.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, April 5th. This represents a $0.80 annualized dividend and a yield of 1.16%. NetApp’s payout ratio is presently 38.10%.
In other NetApp news, VP Joel D. Reich sold 11,641 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $60.02, for a total transaction of $698,692.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 3,826 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $63.01, for a total value of $241,076.26. Following the sale, the chief executive officer now owns 20,637 shares in the company, valued at approximately $1,300,337.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,877 shares of company stock worth $2,710,753. Corporate insiders own 0.47% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Tuttle Tactical Management LLC acquired a new position in shares of NetApp in the 4th quarter valued at about $1,411,000. MetLife Investment Advisors LLC acquired a new position in shares of NetApp in the 4th quarter valued at about $4,617,000. Vident Investment Advisory LLC increased its holdings in shares of NetApp by 6.6% in the 4th quarter. Vident Investment Advisory LLC now owns 65,025 shares of the data storage provider’s stock valued at $3,597,000 after purchasing an additional 4,047 shares during the period. Millennium Management LLC increased its holdings in shares of NetApp by 39.6% in the 4th quarter. Millennium Management LLC now owns 1,233,888 shares of the data storage provider’s stock valued at $68,259,000 after purchasing an additional 350,081 shares during the period. Finally, Sciencast Management LP acquired a new position in shares of NetApp in the 4th quarter valued at about $793,000. Institutional investors own 95.00% of the company’s stock.
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NetApp, Inc provides software, systems, and services to manage and store computer data worldwide. It offers flash; flash arrays that support data management; hybrid arrays to deploy the speed of flash storage; hybrid cloud; ONTAP cloud storage data management service; NetApp cloud sync hybrid data management Software as a Service; NetApp private storage for cloud; and AltaVault cloud-integrated solutions.
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