CIBC Asset Administration Inc grew its stake in NetApp, Inc. (NASDAQ:NTAP – Free Report) by 10.1% within the third quarter, in accordance with the corporate in its most up-to-date disclosure with the Securities and Change Fee. The agency owned 30,627 shares of the information storage supplier’s inventory after shopping for an extra 2,814 shares throughout the interval. CIBC Asset Administration Inc’s holdings in NetApp have been value $3,783,000 as of its most up-to-date submitting with the Securities and Change Fee.
Plenty of different hedge funds additionally not too long ago made modifications to their positions in NTAP. Hollencrest Capital Administration acquired a brand new stake in NetApp throughout the 2nd quarter valued at roughly $26,000. Northwest Funding Counselors LLC acquired a brand new stake in shares of NetApp throughout the third quarter value $27,000. New Covenant Belief Firm N.A. purchased a brand new place in NetApp throughout the first quarter value $28,000. Redwood Wealth Administration Group LLC acquired a brand new place in NetApp within the second quarter valued at $32,000. Lastly, Crewe Advisors LLC purchased a brand new stake in NetApp throughout the first quarter valued at $35,000. 92.17% of the inventory is presently owned by institutional traders.
NetApp Inventory Up 1.8 %
Shares of NASDAQ:NTAP opened at $119.34 on Tuesday. The inventory has a market cap of $24.44 billion, a price-to-earnings ratio of 23.31, a PEG ratio of three.01 and a beta of 1.24. The enterprise’s 50 day shifting common is $121.26 and its 200 day shifting common is $122.23. NetApp, Inc. has a 12-month low of $77.08 and a 12-month excessive of $135.01. The corporate has a fast ratio of 0.91, a present ratio of 0.96 and a debt-to-equity ratio of 1.34.
NetApp (NASDAQ:NTAP – Get Free Report) final posted its earnings outcomes on Wednesday, August twenty eighth. The info storage supplier reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.11. The agency had income of $1.54 billion throughout the quarter, in comparison with analyst estimates of $1.53 billion. NetApp had a web margin of 17.01% and a return on fairness of 121.41%. The enterprise’s income was up 7.6% in comparison with the identical quarter final 12 months. Throughout the identical quarter within the prior 12 months, the enterprise posted $0.84 EPS. On common, sell-side analysts forecast that NetApp, Inc. will put up 5.71 earnings per share for the present fiscal 12 months.
NetApp Dividend Announcement
The corporate additionally not too long ago disclosed a quarterly dividend, which was paid on Wednesday, October twenty third. Shareholders of file on Friday, October 4th have been paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.08 annualized dividend and a yield of 1.74%. NetApp’s dividend payout ratio (DPR) is 40.62%.
Insiders Place Their Bets
In different information, EVP Elizabeth M. O’callahan bought 705 shares of the agency’s inventory in a transaction on Thursday, October tenth. The inventory was bought at a mean value of $126.20, for a complete transaction of $88,971.00. Following the completion of the sale, the chief vp now instantly owns 11,694 shares of the corporate’s inventory, valued at $1,475,782.80. This commerce represents a 5.69 % lower of their place. The sale was disclosed in a doc filed with the SEC, which is accessible via the SEC web site. Additionally, CAO Lorenzo Daniel De bought 1,685 shares of the enterprise’s inventory in a transaction dated Tuesday, September twenty fourth. The inventory was bought at a mean value of $123.60, for a complete transaction of $208,266.00. The disclosure for this sale may be discovered right here. Insiders have bought a complete of 10,890 shares of firm inventory valued at $1,369,172 within the final 90 days. 0.47% of the inventory is presently owned by company insiders.
Wall Road Analysts Forecast Progress
NTAP has been the subject of quite a few latest analyst studies. Wedbush reissued a “impartial” ranking and issued a $120.00 value goal on shares of NetApp in a analysis notice on Monday, August twenty sixth. Loop Capital upgraded NetApp from a “maintain” ranking to a “purchase” ranking and elevated their value goal for the inventory from $121.00 to $150.00 in a report on Tuesday, September third. Barclays lifted their value goal on shares of NetApp from $116.00 to $119.00 and gave the corporate an “equal weight” ranking in a analysis notice on Thursday, August twenty ninth. Susquehanna reissued a “constructive” ranking and set a $155.00 goal value on shares of NetApp in a analysis notice on Monday, August twenty sixth. Lastly, Stifel Nicolaus lifted their value goal on shares of NetApp from $138.00 to $140.00 and gave the corporate a “purchase” ranking in a analysis notice on Thursday, August twenty ninth. One analyst has rated the inventory with a promote ranking, eleven have issued a maintain ranking and 6 have assigned a purchase ranking to the inventory. Based mostly on information from MarketBeat, the corporate presently has a consensus ranking of “Maintain” and a mean goal value of $129.06.
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About NetApp
NetApp, Inc offers cloud-led and data-centric companies to handle and share information on-premises, and personal and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public May. The corporate gives clever information administration software program, reminiscent of NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Administration, NetApp SnapMirror Information Replication, NetApp SnapLock Information Compliance, and storage infrastructure options, together with NetApp All-Flash FAS sequence, NetApp Material Connected Storage, NetApp E/EF sequence, and NetApp StorageGRID.
See Additionally
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