Lucus Advisors LLC reduced its stake in shares of NetApp Inc. (NASDAQ:NTAP) by 27.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,011 shares of the data storage provider’s stock after selling 5,347 shares during the period. Lucus Advisors LLC’s holdings in NetApp were worth $345,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. boosted its position in shares of NetApp by 166.9% in the second quarter. American Century Companies Inc. now owns 1,231,440 shares of the data storage provider’s stock valued at $30,281,000 after buying an additional 770,067 shares during the period. Candriam Luxembourg S.C.A. bought a new position in shares of NetApp during the second quarter valued at about $260,000. Jensen Investment Management Inc. bought a new position in shares of NetApp during the second quarter valued at about $425,000. Strs Ohio boosted its position in shares of NetApp by 14.8% in the second quarter. Strs Ohio now owns 49,413 shares of the data storage provider’s stock valued at $1,215,000 after buying an additional 6,371 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of NetApp during the second quarter valued at about $9,764,000. Hedge funds and other institutional investors own 89.54% of the company’s stock.
Shares of NetApp Inc. (NASDAQ:NTAP) traded up 3.14% on Friday, reaching $35.82. 4,510,028 shares of the company traded hands. NetApp Inc. has a 52-week low of $20.66 and a 52-week high of $36.10. The stock has a 50 day moving average of $34.31 and a 200 day moving average of $27.48. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 32.24 and a beta of 1.56.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 17th. The data storage provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.10. NetApp had a net margin of 5.87% and a return on equity of 15.82%. The business earned $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. On average, analysts expect that NetApp Inc. will post $2.36 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Friday, October 7th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Wednesday, October 5th. NetApp’s dividend payout ratio is currently 68.47%.
Several equities analysts recently issued reports on the company. Standpoint Research cut NetApp from a “buy” rating to a “hold” rating in a research report on Friday. Summit Redstone upgraded NetApp from a “sell” rating to a “buy” rating and boosted their price target for the company from $30.00 to $45.00 in a research report on Friday. Brean Capital restated a “hold” rating on shares of NetApp in a research report on Wednesday. Susquehanna set a $42.00 target price on NetApp and gave the stock a “buy” rating in a research report on Wednesday. Finally, Jefferies Group reiterated a “hold” rating and set a $34.00 target price (up previously from $29.00) on shares of NetApp in a research report on Wednesday. Ten investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and six have assigned a buy rating to the stock. NetApp presently has a consensus rating of “Hold” and an average target price of $30.16.
In other NetApp news, CEO George Kurian sold 48,176 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $34.87, for a total value of $1,679,897.12. Following the completion of the sale, the chief executive officer now owns 92,746 shares in the company, valued at $3,234,053.02. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert T. Wall sold 22,944 shares of the stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $35.45, for a total transaction of $813,364.80. Following the completion of the sale, the director now owns 36,048 shares of the company’s stock, valued at approximately $1,277,901.60. The disclosure for this sale can be found here. 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.
Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp Inc. (NASDAQ:NTAP).
Receive News & Ratings for NetApp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.