Janus Henderson Group PLC Acquires 644,997 Shares of NetApp Inc. (NTAP)

Janus Henderson Group PLC raised its holdings in shares of NetApp Inc. (NASDAQ:NTAP) by 46.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,020,797 shares of the data storage provider’s stock after purchasing an additional 644,997 shares during the quarter. Janus Henderson Group PLC owned approximately 0.78% of NetApp worth $173,567,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp lifted its holdings in NetApp by 2.6% during the second quarter. Northern Trust Corp now owns 3,279,556 shares of the data storage provider’s stock valued at $257,545,000 after purchasing an additional 82,975 shares during the last quarter. Bank of America Corp DE lifted its holdings in NetApp by 46.7% during the second quarter. Bank of America Corp DE now owns 2,647,027 shares of the data storage provider’s stock valued at $207,871,000 after purchasing an additional 842,904 shares during the last quarter. Schroder Investment Management Group lifted its holdings in NetApp by 57.3% during the second quarter. Schroder Investment Management Group now owns 2,493,836 shares of the data storage provider’s stock valued at $192,798,000 after purchasing an additional 908,642 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in NetApp by 270.0% during the second quarter. Renaissance Technologies LLC now owns 2,332,932 shares of the data storage provider’s stock valued at $183,205,000 after purchasing an additional 1,702,432 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in NetApp by 33.9% during the third quarter. American Century Companies Inc. now owns 2,270,452 shares of the data storage provider’s stock valued at $195,009,000 after purchasing an additional 574,247 shares during the last quarter. 95.59% of the stock is currently owned by institutional investors and hedge funds.

NTAP stock opened at $65.66 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.63 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $16.60 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.16 and a beta of 1.38. NetApp Inc. has a 1-year low of $52.00 and a 1-year high of $88.08.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, November 14th. The data storage provider reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.51 billion. NetApp had a net margin of 4.70% and a return on equity of 51.50%. NetApp’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 earnings per share. As a group, sell-side analysts predict that NetApp Inc. will post 3.98 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Friday, January 4th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Thursday, January 3rd. NetApp’s dividend payout ratio (DPR) is 53.51%.

NTAP has been the topic of several recent research reports. Goldman Sachs Group raised shares of NetApp from a “neutral” rating to a “conviction-buy” rating and set a $91.00 price objective on the stock in a report on Wednesday, October 17th. Susquehanna Bancshares downgraded shares of NetApp from a “positive” rating to a “neutral” rating in a report on Tuesday, October 23rd. BidaskClub cut NetApp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. UBS Group cut NetApp from a “positive” rating to a “neutral” rating in a research report on Tuesday, October 23rd. Finally, Deutsche Bank upped their price target on NetApp from $43.00 to $60.00 and gave the company a “sell” rating in a research report on Thursday, August 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. NetApp currently has a consensus rating of “Buy” and an average target price of $81.78.

In related news, VP Joel D. Reich sold 7,157 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $86.83, for a total value of $621,442.31. Following the transaction, the vice president now directly owns 603 shares in the company, valued at $52,358.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Henri P. Richard sold 2,525 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $84.12, for a total transaction of $212,403.00. Following the completion of the transaction, the executive vice president now owns 68,390 shares in the company, valued at $5,752,966.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,805 shares of company stock worth $8,227,046. 0.19% of the stock is owned by company insiders.

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About NetApp

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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