Todays Report: The Strs Ohio decides to keep it stake in NetApp Inc. (NTAP) to the level of $1,215,000

The Strs Ohio decides to keep it stake in NetApp Inc. (NTAP) to the level of $1,215,000

Strs Ohio increased its position in shares of NetApp Inc. (NASDAQ:NTAP) by 14.8% during the second quarter, Holdings Channel reports. The institutional investor owned 49,413 shares of the data storage provider’s stock after buying an additional 6,371 shares during the period. Strs Ohio’s holdings in NetApp were worth $1,215,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NTAP. Jacobs Levy Equity Management Inc. raised its position in NetApp by 58.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,192,099 shares of the data storage provider’s stock valued at $32,532,000 after buying an additional 441,417 shares during the last quarter. Legal & General Group Plc raised its position in NetApp by 0.6% in the first quarter. Legal & General Group Plc now owns 1,320,761 shares of the data storage provider’s stock valued at $36,042,000 after buying an additional 8,301 shares during the last quarter. Geode Capital Management LLC raised its position in NetApp by 1.6% in the first quarter. Geode Capital Management LLC now owns 2,781,488 shares of the data storage provider’s stock valued at $75,775,000 after buying an additional 43,931 shares during the last quarter. Creative Planning raised its position in NetApp by 248.6% in the second quarter. Creative Planning now owns 10,495 shares of the data storage provider’s stock valued at $258,000 after buying an additional 7,484 shares during the last quarter. Finally, National Pension Service raised its position in NetApp by 4.4% in the first quarter. National Pension Service now owns 225,705 shares of the data storage provider’s stock valued at $6,159,000 after buying an additional 9,591 shares during the last quarter. Institutional investors and hedge funds own 89.57% of the company’s stock.

NetApp Inc. (NASDAQ:NTAP) traded down 0.65% on Wednesday, hitting $33.86. 2,900,412 shares of the stock were exchanged. The company’s 50-day moving average is $35.03 and its 200-day moving average is $27.90. The company has a market cap of $9.44 billion, a PE ratio of 30.48 and a beta of 1.58. NetApp Inc. has a 52 week low of $20.66 and a 52 week high of $36.10.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 17th. The data storage provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.10. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. NetApp had a return on equity of 15.82% and a net margin of 5.87%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. On average, analysts predict that NetApp Inc. will post $2.36 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, October 5th. NetApp’s dividend payout ratio (DPR) is 68.47%.

NTAP has been the subject of several recent research reports. RBC Capital Markets raised their price objective on shares of NetApp to $32.00 in a research note on Thursday, August 18th. DA Davidson reissued a “buy” rating and issued a $35.00 price objective on shares of NetApp in a research note on Monday, August 15th. Maxim Group raised their price objective on shares of NetApp from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, August 15th. Cross Research raised shares of NetApp from a “hold” rating to a “buy” rating in a research note on Monday, September 26th. Finally, Susquehanna set a $42.00 price objective on shares of NetApp and gave the company a “buy” rating in a research note on Wednesday, September 28th. Ten investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and six have given a buy rating to the stock. NetApp presently has an average rating of “Hold” and a consensus price target of $30.16.

In related news, Director Jeffry R. Allen sold 15,000 shares of NetApp stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $34.82, for a total transaction of $522,300.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $522,300. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO George Kurian sold 4,000 shares of NetApp stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $35.16, for a total value of $140,640.00. Following the transaction, the chief executive officer now directly owns 40,570 shares in the company, valued at $1,426,441.20. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

About NetApp

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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