Machina Capital S.A.S. Buys Shares of 11,748 NetApp Inc. (NASDAQ:NTAP)

Machina Capital S.A.S. bought a new stake in NetApp Inc. (NASDAQ:NTAP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,748 shares of the data storage provider’s stock, valued at approximately $719,000.

A number of other hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of NetApp by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,557,357 shares of the data storage provider’s stock worth $92,927,000 after buying an additional 43,813 shares during the period. Geode Capital Management LLC grew its position in shares of NetApp by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 4,082,660 shares of the data storage provider’s stock worth $243,266,000 after buying an additional 169,398 shares during the period. Suntrust Banks Inc. grew its position in shares of NetApp by 6.8% during the 4th quarter. Suntrust Banks Inc. now owns 5,582 shares of the data storage provider’s stock worth $333,000 after buying an additional 354 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of NetApp during the 4th quarter worth approximately $416,000. Finally, First Allied Advisory Services Inc. acquired a new stake in shares of NetApp during the 4th quarter worth approximately $246,000. 98.77% of the stock is currently owned by institutional investors.

NTAP traded up $0.14 during trading on Wednesday, reaching $59.63. The company had a trading volume of 39,179 shares, compared to its average volume of 1,828,791. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.42 and a current ratio of 1.45. NetApp Inc. has a 12 month low of $54.50 and a 12 month high of $88.08. The company’s fifty day moving average price is $60.76. The stock has a market capitalization of $14.19 billion, a P/E ratio of 14.82, a P/E/G ratio of 0.92 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, May 22nd. The data storage provider reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.03). NetApp had a net margin of 19.02% and a return on equity of 71.66%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the firm posted $1.05 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts expect that NetApp Inc. will post 4.38 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a $0.48 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 3.22%. This is a positive change from NetApp’s previous quarterly dividend of $0.40. NetApp’s payout ratio is presently 47.76%.

Several research analysts recently weighed in on the stock. Bank of America set a $30.00 price objective on shares of L Brands and gave the stock a “hold” rating in a research note on Thursday, May 23rd. Citigroup set a $12.00 price objective on shares of Avaya and gave the stock a “hold” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of in a research note on Tuesday, June 25th. BidaskClub lowered shares of Xperi from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 19th. Finally, Credit Suisse Group raised shares of Vipshop from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 23rd. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $71.63.

In other news, VP Joel D. Reich sold 30,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $60.59, for a total value of $1,817,700.00. Following the sale, the vice president now owns 55,361 shares of the company’s stock, valued at $3,354,322.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Ronald J. Pasek sold 58,052 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $58.49, for a total transaction of $3,395,461.48. Following the completion of the sale, the chief financial officer now directly owns 122,806 shares in the company, valued at approximately $7,182,922.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 161,092 shares of company stock worth $9,676,120. Insiders own 0.19% of the company’s stock.

NetApp Profile

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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