NetApp, Inc. (NTAP) Position Boosted by Shelton Capital Management
Shelton Capital Management boosted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 38.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,586 shares of the data storage provider’s stock after acquiring an additional 36,700 shares during the quarter. Shelton Capital Management’s holdings in NetApp were worth $5,310,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BTIM Corp. raised its holdings in shares of NetApp by 4.5% in the 2nd quarter. BTIM Corp. now owns 118,219 shares of the data storage provider’s stock valued at $4,735,000 after acquiring an additional 5,099 shares in the last quarter. Janus Capital Management LLC boosted its position in shares of NetApp by 55.1% during the 1st quarter. Janus Capital Management LLC now owns 725,050 shares of the data storage provider’s stock valued at $30,343,000 after acquiring an additional 257,433 shares during the last quarter. Cantor Fitzgerald Investment Adviser L.P. bought a new stake in shares of NetApp during the 2nd quarter valued at about $280,000. Point72 Asia Hong Kong Ltd boosted its position in shares of NetApp by 8,443.8% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 5,468 shares of the data storage provider’s stock valued at $229,000 after acquiring an additional 5,404 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK boosted its position in shares of NetApp by 13.4% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 547,294 shares of the data storage provider’s stock valued at $21,918,000 after acquiring an additional 64,722 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.
NTAP has been the subject of several recent analyst reports. Zacks Investment Research raised NetApp from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Wednesday. Robert W. Baird reaffirmed a “hold” rating on shares of NetApp in a research note on Wednesday. DA Davidson reaffirmed a “buy” rating and issued a $51.00 target price on shares of NetApp in a research note on Monday. Drexel Hamilton reiterated a “buy” rating and set a $62.00 target price on shares of NetApp in a research report on Monday, September 25th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of NetApp in a research report on Saturday, September 23rd. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $45.04.
In related news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $43.89, for a total value of $86,726.64. Following the completion of the sale, the executive vice president now directly owns 15,836 shares in the company, valued at $695,042.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard P. Wallace sold 34,000 shares of NetApp stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $43.53, for a total value of $1,480,020.00. Following the completion of the sale, the director now owns 24,132 shares of the company’s stock, valued at $1,050,465.96. The disclosure for this sale can be found here. Insiders have sold a total of 52,450 shares of company stock worth $2,250,560 in the last three months. Corporate insiders own 0.47% of the company’s stock.
NetApp, Inc. (NASDAQ:NTAP) traded up 0.011% during mid-day trading on Wednesday, hitting $44.395. 889,617 shares of the stock were exchanged. The stock has a 50 day moving average of $40.56 and a 200-day moving average of $40.68. NetApp, Inc. has a 52-week low of $30.36 and a 52-week high of $45.24. The stock has a market cap of $11.98 billion, a price-to-earnings ratio of 21.437 and a beta of 1.26.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.07. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. NetApp had a return on equity of 24.13% and a net margin of 10.47%. NetApp’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. Equities analysts predict that NetApp, Inc. will post $3.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, October 5th. NetApp’s payout ratio is 38.65%.
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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