Janus Henderson Group PLC cut its holdings in NetApp Inc. (NASDAQ:NTAP) by 20.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,622,350 shares of the data storage provider’s stock after selling 660,002 shares during the period. Janus Henderson Group PLC’s holdings in NetApp were worth $161,798,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hexavest Inc. purchased a new stake in shares of NetApp during the second quarter worth $26,000. Group One Trading L.P. grew its holdings in shares of NetApp by 196.9% during the first quarter. Group One Trading L.P. now owns 443 shares of the data storage provider’s stock worth $31,000 after buying an additional 900 shares in the last quarter. Destination Wealth Management grew its holdings in shares of NetApp by 53.3% during the first quarter. Destination Wealth Management now owns 460 shares of the data storage provider’s stock worth $32,000 after buying an additional 160 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of NetApp by 83.8% during the first quarter. Parallel Advisors LLC now owns 509 shares of the data storage provider’s stock worth $35,000 after buying an additional 232 shares in the last quarter. Finally, Kistler Tiffany Companies LLC grew its holdings in shares of NetApp by 315.4% during the second quarter. Kistler Tiffany Companies LLC now owns 511 shares of the data storage provider’s stock worth $32,000 after buying an additional 388 shares in the last quarter. Institutional investors and hedge funds own 96.66% of the company’s stock.
In related news, VP Joel D. Reich sold 23,650 shares of NetApp stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $61.49, for a total value of $1,454,238.50. Following the transaction, the vice president now directly owns 16,212 shares in the company, valued at approximately $996,875.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Joel D. Reich sold 30,000 shares of NetApp stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $60.59, for a total transaction of $1,817,700.00. Following the completion of the transaction, the vice president now owns 55,361 shares in the company, valued at $3,354,322.99. The disclosure for this sale can be found here. Insiders have sold 161,092 shares of company stock worth $9,676,120 in the last three months. Corporate insiders own 0.33% of the company’s stock.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 14th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.19. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. NetApp had a net margin of 19.02% and a return on equity of 71.66%. The business’s quarterly revenue was down 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 earnings per share. On average, equities research analysts forecast that NetApp Inc. will post 3.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.29%. NetApp’s dividend payout ratio is presently 47.76%.
A number of equities research analysts have recently issued reports on NTAP shares. Summit Insights lowered shares of NetApp from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine lowered shares of NetApp from a “hold” rating to a “sell” rating in a report on Monday, June 3rd. Citigroup lowered shares of NetApp from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $67.00 to $55.00 in a report on Monday, July 8th. Morgan Stanley reissued a “sell” rating and issued a $41.00 price objective on shares of NetApp in a report on Sunday. Finally, Bank of America lowered shares of NetApp from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the stock. NetApp currently has an average rating of “Hold” and an average price target of $64.65.
NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and share data 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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