Public Employees Retirement System of Ohio reduced its stake in NetApp, Inc. (NASDAQ:NTAP) by 16.9% during the first quarter, Holdings Channel reports. The fund owned 124,603 shares of the data storage provider’s stock after selling 25,401 shares during the period. Public Employees Retirement System of Ohio’s holdings in NetApp were worth $5,215,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new stake in NetApp during the first quarter valued at approximately $110,000. Carroll Financial Associates Inc. acquired a new stake in NetApp during the first quarter valued at approximately $123,000. NJ State Employees Deferred Compensation Plan acquired a new stake in NetApp during the first quarter valued at approximately $209,000. Cambridge Investment Research Advisors Inc. acquired a new stake in NetApp during the first quarter valued at approximately $209,000. Finally, Blair William & Co. IL acquired a new stake in NetApp during the first quarter valued at approximately $216,000. Institutional investors own 92.18% of the company’s stock.
Shares of NetApp, Inc. (NASDAQ:NTAP) opened at 38.64 on Monday. The company’s 50-day moving average price is $39.61 and its 200 day moving average price is $39.30. NetApp, Inc. has a 12-month low of $24.07 and a 12-month high of $43.14. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 21.35 and a beta of 1.19.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, May 24th. The data storage provider reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. NetApp had a return on equity of 21.66% and a net margin of 9.22%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the business posted $0.55 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts predict that NetApp, Inc. will post $3.03 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be given a dividend of $0.20 per share. This is an increase from NetApp’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, July 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.07%. NetApp’s dividend payout ratio (DPR) is presently 44.20%.
Several equities research analysts recently commented on the company. Zacks Investment Research upgraded NetApp from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Royal Bank of Canada reiterated a “hold” rating on shares of NetApp in a report on Friday, April 28th. Robert W. Baird reiterated a “hold” rating and issued a $44.00 price objective (down from $47.00) on shares of NetApp in a report on Thursday, May 25th. BidaskClub upgraded NetApp from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Bank of America Corporation reiterated a “neutral” rating and issued a $48.00 price objective (up from $45.00) on shares of NetApp in a report on Wednesday, May 17th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $41.42.
In other NetApp news, CEO George Kurian sold 4,000 shares of NetApp stock in a transaction on Monday, May 1st. The stock was sold at an average price of $40.01, for a total value of $160,040.00. Following the sale, the chief executive officer now owns 20,396 shares in the company, valued at $816,043.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffry R. Allen sold 20,000 shares of NetApp stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $40.46, for a total value of $809,200.00. Following the completion of the sale, the director now owns 8,500 shares in the company, valued at approximately $343,910. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,590 shares of company stock worth $4,459,569. 0.49% of the stock is currently owned by company insiders.
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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