National Pension Service Has $28.44 Million Holdings in NetApp Inc. (NTAP)

National Pension Service boosted its stake in shares of NetApp Inc. (NASDAQ:NTAP) by 17.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 331,082 shares of the data storage provider’s stock after purchasing an additional 48,430 shares during the period. National Pension Service owned approximately 0.13% of NetApp worth $28,437,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in NetApp by 67.6% during the 3rd quarter. Renaissance Technologies LLC now owns 3,910,776 shares of the data storage provider’s stock worth $335,897,000 after purchasing an additional 1,577,844 shares during the period. Northern Trust Corp grew its position in NetApp by 2.6% during the 2nd quarter. Northern Trust Corp now owns 3,279,556 shares of the data storage provider’s stock worth $257,545,000 after purchasing an additional 82,975 shares during the period. Bank of America Corp DE grew its position in NetApp by 46.7% during the 2nd quarter. Bank of America Corp DE now owns 2,647,027 shares of the data storage provider’s stock worth $207,871,000 after purchasing an additional 842,904 shares during the period. Schroder Investment Management Group grew its position in NetApp by 57.3% during the 2nd quarter. Schroder Investment Management Group now owns 2,493,836 shares of the data storage provider’s stock worth $192,798,000 after purchasing an additional 908,642 shares during the period. Finally, American Century Companies Inc. grew its position in NetApp by 33.9% during the 3rd quarter. American Century Companies Inc. now owns 2,270,452 shares of the data storage provider’s stock worth $195,009,000 after purchasing an additional 574,247 shares during the period. 93.96% of the stock is currently owned by institutional investors.

Shares of NetApp stock opened at $61.43 on Friday. The stock has a market capitalization of $15.47 billion, a P/E ratio of 20.55, a P/E/G ratio of 1.08 and a beta of 1.33. NetApp Inc. has a twelve month low of $52.00 and a twelve month high of $88.08. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.63 and a current ratio of 1.65.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, November 14th. The data storage provider reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.07. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. NetApp had a net margin of 4.70% and a return on equity of 51.50%. NetApp’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $0.81 EPS. Sell-side analysts forecast that NetApp Inc. will post 3.98 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Friday, January 4th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Thursday, January 3rd. NetApp’s dividend payout ratio is presently 53.51%.

In related news, EVP Henri P. Richard sold 2,525 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $84.12, for a total value of $212,403.00. Following the transaction, the executive vice president now directly owns 68,390 shares of the company’s stock, valued at approximately $5,752,966.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO George Kurian sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $86.10, for a total transaction of $516,600.00. Following the completion of the transaction, the chief executive officer now directly owns 29,479 shares in the company, valued at $2,538,141.90. The disclosure for this sale can be found here. Insiders sold a total of 87,648 shares of company stock worth $7,085,943 over the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

A number of research firms have recently commented on NTAP. Zacks Investment Research upgraded NetApp from a “hold” rating to a “strong-buy” rating and set a $93.00 target price on the stock in a research report on Tuesday, August 21st. Goldman Sachs Group upgraded NetApp from a “neutral” rating to a “conviction-buy” rating and set a $91.00 target price on the stock in a research report on Wednesday, October 17th. Morgan Stanley raised their target price on NetApp from $70.00 to $72.00 and gave the company a “weight” rating in a research report on Thursday, November 15th. Wolfe Research began coverage on NetApp in a research report on Tuesday, December 11th. They set an “outperform” rating on the stock. Finally, Cowen began coverage on NetApp in a research report on Tuesday, December 11th. They set an “underperform” rating and a $53.00 target price on the stock. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. NetApp currently has an average rating of “Buy” and an average price target of $80.42.

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NetApp Profile

NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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