Diversified Trust Co Increases Holdings in NetApp, Inc. (NASDAQ:NTAP)

Diversified Trust Co lifted its position in NetApp, Inc. (NASDAQ:NTAPGet Rating) by 30.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,752 shares of the data storage provider’s stock after purchasing an additional 1,800 shares during the quarter. Diversified Trust Co’s holdings in NetApp were worth $643,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NTAP. Norges Bank acquired a new stake in NetApp during the fourth quarter worth about $204,555,000. Acadian Asset Management LLC grew its holdings in NetApp by 187.4% during the fourth quarter. Acadian Asset Management LLC now owns 1,528,645 shares of the data storage provider’s stock worth $140,587,000 after acquiring an additional 996,785 shares during the period. Millennium Management LLC grew its holdings in NetApp by 3,085.7% during the fourth quarter. Millennium Management LLC now owns 678,082 shares of the data storage provider’s stock worth $62,377,000 after acquiring an additional 656,797 shares during the period. Woodline Partners LP acquired a new stake in NetApp during the fourth quarter worth about $41,697,000. Finally, State Street Corp grew its holdings in NetApp by 4.2% during the fourth quarter. State Street Corp now owns 10,051,825 shares of the data storage provider’s stock worth $924,667,000 after acquiring an additional 407,285 shares during the period. Hedge funds and other institutional investors own 91.91% of the company’s stock.

In other NetApp news, CEO George Kurian sold 4,250 shares of NetApp stock in a transaction on Monday, April 18th. The stock was sold at an average price of $75.50, for a total value of $320,875.00. Following the sale, the chief executive officer now owns 130,576 shares in the company, valued at $9,858,488. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 18,000 shares of NetApp stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $64.68, for a total value of $1,164,240.00. Following the completion of the sale, the president now owns 61,075 shares in the company, valued at approximately $3,950,331. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock worth $1,776,134 in the last 90 days. Company insiders own 0.28% of the company’s stock.

Shares of NetApp stock opened at $64.70 on Thursday. NetApp, Inc. has a one year low of $62.78 and a one year high of $96.82. The company has a market cap of $14.31 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.63 and a beta of 1.24. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.45 and a current ratio of 1.50. The business’s 50 day moving average price is $71.22 and its 200 day moving average price is $81.54.

NetApp (NASDAQ:NTAPGet Rating) last announced its quarterly earnings data on Wednesday, June 1st. The data storage provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. NetApp had a return on equity of 127.40% and a net margin of 14.83%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the business posted $0.96 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that NetApp, Inc. will post 4.44 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Friday, July 8th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $2.00 dividend on an annualized basis and a yield of 3.09%. NetApp’s dividend payout ratio is currently 48.78%.

Several analysts recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of NetApp in a report on Wednesday, March 23rd. Morgan Stanley dropped their price objective on NetApp from $91.00 to $88.00 and set an “equal weight” rating on the stock in a report on Thursday, June 2nd. Bank of America lowered NetApp from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $100.00 to $96.00 in a report on Thursday, March 24th. UBS Group initiated coverage on NetApp in a report on Tuesday, April 5th. They issued a “neutral” rating and a $91.00 price objective on the stock. Finally, Barclays dropped their price objective on NetApp from $102.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, NetApp presently has an average rating of “Moderate Buy” and an average target price of $94.11.

NetApp Profile (Get Rating)

NetApp, Inc provides software, systems, and cloud services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud storage services, including NetApp Cloud Volumes; cloud control solutions, such as NetApp Cloud Manager and NetApp Virtual Desktop Service; cloud services and analytics comprising NetApp Cloud Insights, NetApp Cloud Sync, NetApp Cloud Compliance, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Cloud Backup, and NetApp Global File Cache; and Cloud Optimization solutions, such as Spot by NetApp, Spot Cloud Analyzer by NetApp, Spot Eco by NetApp, Spot Ocean by NetApp, Spot Wave by NetApp, Spot Elastigroup by NetApp, and NetApp Virtual Desktop Managed Service.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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