NetApp Inc. (NTAP) Shares Bought by QS Investors LLC

QS Investors LLC lifted its stake in NetApp Inc. (NASDAQ:NTAP) by 40.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,191 shares of the data storage provider’s stock after purchasing an additional 18,017 shares during the quarter. QS Investors LLC’s holdings in NetApp were worth $3,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of NTAP. FTB Advisors Inc. raised its position in NetApp by 14.6% during the fourth quarter. FTB Advisors Inc. now owns 1,318 shares of the data storage provider’s stock valued at $78,000 after acquiring an additional 168 shares in the last quarter. LS Investment Advisors LLC raised its position in NetApp by 2.3% during the fourth quarter. LS Investment Advisors LLC now owns 7,681 shares of the data storage provider’s stock valued at $458,000 after acquiring an additional 173 shares in the last quarter. Huntington National Bank raised its position in NetApp by 13.4% during the fourth quarter. Huntington National Bank now owns 2,122 shares of the data storage provider’s stock valued at $127,000 after acquiring an additional 251 shares in the last quarter. CWM Advisors LLC raised its position in NetApp by 12.1% during the fourth quarter. CWM Advisors LLC now owns 3,664 shares of the data storage provider’s stock valued at $219,000 after acquiring an additional 396 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its position in NetApp by 6.9% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 7,416 shares of the data storage provider’s stock valued at $443,000 after acquiring an additional 476 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

NTAP has been the topic of several recent research reports. Zacks Investment Research raised shares of NetApp from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Thursday, December 13th. BidaskClub raised shares of NetApp from a “hold” rating to a “buy” rating in a research report on Wednesday, January 30th. Bank of America reaffirmed a “buy” rating and set a $90.00 price objective on shares of NetApp in a research report on Monday, February 11th. Lake Street Capital cut their price objective on shares of NetApp to $69.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Finally, Cross Research raised shares of NetApp from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.16.

Shares of NTAP stock opened at $68.06 on Friday. NetApp Inc. has a 12 month low of $54.50 and a 12 month high of $88.08. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.53 and a current ratio of 1.56. The company has a market cap of $16.81 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 1.15 and a beta of 1.40.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, February 13th. The data storage provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.15 by $0.05. NetApp had a return on equity of 60.32% and a net margin of 16.85%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company posted $0.99 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts anticipate that NetApp Inc. will post 4.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, April 4th. This represents a $1.60 annualized dividend and a yield of 2.35%. NetApp’s dividend payout ratio (DPR) is presently 53.51%.

In other news, EVP Henri P. Richard sold 5,050 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $66.01, for a total value of $333,350.50. Following the sale, the executive vice president now owns 56,707 shares in the company, valued at $3,743,229.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Joel D. Reich sold 20,000 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $64.04, for a total transaction of $1,280,800.00. Following the completion of the sale, the vice president now owns 744 shares in the company, valued at approximately $47,645.76. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

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About NetApp

NetApp, Inc provides software, systems, and services to manage and share data 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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