Chicago Equity Partners LLC boosted its position in NetApp Inc. (NASDAQ:NTAP) by 179.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,205 shares of the data storage provider’s stock after buying an additional 39,930 shares during the quarter. Chicago Equity Partners LLC’s holdings in NetApp were worth $5,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co increased its position in NetApp by 589.7% in the third quarter. CENTRAL TRUST Co now owns 1,276 shares of the data storage provider’s stock worth $110,000 after buying an additional 1,091 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in NetApp by 16,433.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,488 shares of the data storage provider’s stock worth $116,000 after buying an additional 1,479 shares during the last quarter. Cerebellum GP LLC purchased a new stake in NetApp in the third quarter worth $182,000. Checchi Capital Advisers LLC purchased a new position in shares of NetApp in the third quarter valued at $201,000. Finally, Calamos Advisors LLC purchased a new position in shares of NetApp in the third quarter valued at $206,000. 95.52% of the stock is owned by institutional investors and hedge funds.
NetApp stock opened at $80.32 on Wednesday. NetApp Inc. has a 52 week low of $44.41 and a 52 week high of $88.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.06 and a quick ratio of 2.03. The stock has a market cap of $20.46 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 1.42 and a beta of 1.38.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Investors of record on Friday, October 5th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, October 4th. NetApp’s payout ratio is 53.51%.
In other NetApp news, EVP Henri P. Richard sold 2,525 shares of NetApp stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $76.99, for a total transaction of $194,399.75. Following the completion of the sale, the executive vice president now owns 65,907 shares of the company’s stock, valued at $5,074,179.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Joel D. Reich sold 7,157 shares of NetApp stock in a transaction dated 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 of the company’s stock, valued at approximately $52,358.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,451 shares of company stock valued at $10,579,434. 0.19% of the stock is owned by company insiders.
Several brokerages have recently weighed in on NTAP. Zacks Investment Research upgraded NetApp from a “hold” rating to a “strong-buy” rating and set a $88.00 price target for the company in a research report on Friday, October 26th. Susquehanna Bancshares cut NetApp from a “positive” rating to a “neutral” rating in a research report on Tuesday, October 23rd. UBS Group cut NetApp from a “positive” rating to a “neutral” rating in a research report on Tuesday, October 23rd. Goldman Sachs Group upgraded NetApp from a “neutral” rating to a “conviction-buy” rating and set a $91.00 price target for the company in a research report on Wednesday, October 17th. Finally, BidaskClub cut NetApp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $81.17.
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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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