Nuveen Asset Management LLC lessened its stake in shares of NetApp, Inc. (NASDAQ:NTAP – Get Rating) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 701,077 shares of the data storage provider’s stock after selling 24,601 shares during the quarter. Nuveen Asset Management LLC owned 0.32% of NetApp worth $43,362,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Canada Pension Plan Investment Board boosted its stake in NetApp by 301.6% during the third quarter. Canada Pension Plan Investment Board now owns 128,550 shares of the data storage provider’s stock worth $7,951,000 after buying an additional 96,540 shares during the period. AXA S.A. lifted its position in shares of NetApp by 351.7% during the third quarter. AXA S.A. now owns 312,947 shares of the data storage provider’s stock worth $19,356,000 after purchasing an additional 243,671 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of NetApp by 2,780.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 39,975 shares of the data storage provider’s stock worth $2,472,000 after purchasing an additional 38,587 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of NetApp during the third quarter worth about $89,000. Finally, FORA Capital LLC acquired a new stake in shares of NetApp during the third quarter worth about $713,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.
Insider Transactions at NetApp
In other news, CEO George Kurian sold 4,500 shares of NetApp stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $65.87, for a total transaction of $296,415.00. Following the completion of the transaction, the chief executive officer now owns 150,226 shares of the company’s stock, valued at approximately $9,895,386.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Carrie Palin sold 2,707 shares of NetApp stock in a transaction on Monday, December 5th. The stock was sold at an average price of $64.30, for a total transaction of $174,060.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Kurian sold 4,500 shares of the business’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $65.87, for a total transaction of $296,415.00. Following the completion of the transaction, the chief executive officer now directly owns 150,226 shares of the company’s stock, valued at approximately $9,895,386.62. The disclosure for this sale can be found here. Insiders sold 16,207 shares of company stock valued at $1,045,305 in the last 90 days. 0.26% of the stock is currently owned by insiders.
Analyst Ratings Changes
NetApp Stock Performance
NASDAQ:NTAP opened at $65.38 on Monday. The firm has a market cap of $14.09 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 1.71 and a beta of 1.18. NetApp, Inc. has a 1-year low of $58.08 and a 1-year high of $90.20. The firm’s fifty day moving average price is $64.32 and its 200 day moving average price is $67.17. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.34 and a quick ratio of 1.29.
NetApp (NASDAQ:NTAP – Get Rating) last issued its earnings results on Wednesday, February 22nd. The data storage provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.31 by $0.06. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.61 billion. NetApp had a net margin of 19.93% and a return on equity of 103.19%. The business’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. On average, sell-side analysts expect that NetApp, Inc. will post 4.35 EPS for the current year.
NetApp Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Thursday, April 6th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $2.00 annualized dividend and a dividend yield of 3.06%. NetApp’s payout ratio is currently 34.42%.
NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Volumes ONTAP, NetApp Cloud Sync, NetApp Cloud Secure, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Kubernetes Service, and NetApp Cloud Insights.
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