Sei Investments Co. increased its position in NetApp Inc. (NASDAQ:NTAP) by 164.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 579,222 shares of the data storage provider’s stock after buying an additional 360,447 shares during the period. Sei Investments Co. owned approximately 0.21% of NetApp worth $20,748,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Global X Management Co. LLC boosted its position in NetApp by 109.8% in the second quarter. Global X Management Co. LLC now owns 4,485 shares of the data storage provider’s stock valued at $110,000 after buying an additional 2,347 shares during the last quarter. FTB Advisors Inc. boosted its position in NetApp by 14.3% in the second quarter. FTB Advisors Inc. now owns 5,154 shares of the data storage provider’s stock valued at $126,000 after buying an additional 646 shares during the last quarter. Victory Capital Management Inc. boosted its position in NetApp by 44.2% in the third quarter. Victory Capital Management Inc. now owns 5,321 shares of the data storage provider’s stock valued at $191,000 after buying an additional 1,631 shares during the last quarter. Orinda Asset Management LLC acquired a new position in NetApp during the third quarter valued at about $202,000. Finally, Thrivent Financial for Lutherans boosted its position in NetApp by 3.2% in the second quarter. Thrivent Financial for Lutherans now owns 8,840 shares of the data storage provider’s stock valued at $217,000 after buying an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.
NetApp Inc. (NASDAQ:NTAP) traded up 0.11% during midday trading on Monday, hitting $36.65. The stock had a trading volume of 971,538 shares. NetApp Inc. has a 1-year low of $20.66 and a 1-year high of $39.00. The company has a 50-day moving average of $34.16 and a 200-day moving average of $29.95. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 33.26 and a beta of 1.49.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, November 16th. The data storage provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.06. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.36 billion. NetApp had a return on equity of 15.66% and a net margin of 5.89%. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 earnings per share. Equities research analysts forecast that NetApp Inc. will post $2.56 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Friday, January 6th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Wednesday, January 4th. NetApp’s dividend payout ratio is currently 69.09%.
Several research analysts have recently issued reports on NTAP shares. Brean Capital reissued a “hold” rating on shares of NetApp in a research note on Thursday, August 18th. Jefferies Group reissued a “hold” rating and issued a $34.00 price target (up previously from $29.00) on shares of NetApp in a research note on Wednesday, September 28th. Barclays PLC reissued an “underweight” rating on shares of NetApp in a research note on Tuesday, November 8th. BMO Capital Markets increased their price target on NetApp to $39.00 in a research note on Thursday, November 17th. Finally, Morgan Stanley increased their price target on NetApp from $21.00 to $24.00 and gave the stock an “underweight” rating in a research note on Thursday, August 18th. Eleven analysts have rated the stock with a sell rating, twenty-four have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.54.
In other NetApp news, CEO George Kurian sold 4,000 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $35.16, for a total transaction of $140,640.00. Following the completion of the sale, the chief executive officer now directly owns 40,570 shares in the company, valued at $1,426,441.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert T. Wall sold 22,944 shares of the company’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $35.45, for a total value of $813,364.80. Following the sale, the director now owns 36,048 shares of the company’s stock, valued at $1,277,901.60. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.