World Asset Management Inc Trims Holdings in NetApp Inc. (NTAP)

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World Asset Management Inc lessened its position in NetApp Inc. (NASDAQ:NTAP) by 3.9% in the third quarter, HoldingsChannel.com reports. 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 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. DNB Asset Management AS grew its stake in NetApp by 2.1% in the third quarter. DNB Asset Management AS now owns 35,849 shares of the data storage provider’s stock valued at $3,079,000 after acquiring an additional 752 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of NetApp by 15.7% during the first quarter. Commonwealth Equity Services LLC now owns 5,618 shares of the data storage provider’s stock valued at $346,000 after buying an additional 762 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of NetApp by 2.8% during the second quarter. CIBC Asset Management Inc now owns 28,357 shares of the data storage provider’s stock valued at $2,227,000 after buying an additional 763 shares during the last quarter. GHP Investment Advisors Inc. boosted its position in shares of NetApp by 2.0% during the second quarter. GHP Investment Advisors Inc. now owns 53,789 shares of the data storage provider’s stock valued at $4,224,000 after buying an additional 1,055 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its position in shares of NetApp by 589.7% during the third 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 during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on NTAP shares. Susquehanna Bancshares lifted their target price on NetApp from $75.00 to $100.00 and gave the company a “positive” rating in a research report on Tuesday, July 24th. Deutsche Bank lifted their target price on NetApp from $43.00 to $60.00 and gave the company a “sell” rating in a research report on Thursday, August 16th. Bank of America lifted 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 raised NetApp from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Finally, DA Davidson lifted their target price on NetApp from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. NetApp has an average rating of “Buy” and an average price target of $80.25.

Shares of NetApp stock opened at $76.92 on Friday. The firm has a market cap of $22.27 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 1.55 and a beta of 1.28. NetApp Inc. has a 12 month low of $43.24 and a 12 month high of $88.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.03 and a current ratio of 2.06.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 15th. The data storage provider reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.24. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.42 billion. NetApp had a return on equity of 41.75% and a net margin of 3.68%. NetApp’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. Research analysts anticipate that NetApp Inc. will post 3.91 EPS for the current year.

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

In other NetApp news, VP Joel D. Reich sold 7,157 shares of the business’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $86.83, for a total value of $621,442.31. Following the sale, the vice president now directly owns 603 shares in the company, valued at $52,358.49. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO George Kurian sold 36,646 shares of the business’s stock in a transaction on Friday, July 20th. The shares were sold at an average price of $81.97, for a total value of $3,003,872.62. Following the completion of the sale, the chief executive officer now owns 100,793 shares in the company, valued at $8,262,002.21. The disclosure for this sale can be found here. Insiders have sold 152,662 shares of company stock worth $12,697,895 over the last quarter. 0.19% of the stock is currently owned by corporate insiders.

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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