Axa S.A. Raises Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Axa S.A. boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 220.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 70,111 shares of the data storage provider’s stock after purchasing an additional 48,239 shares during the quarter. Axa S.A.’s holdings in NetApp were worth $5,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec boosted its position in NetApp by 208.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 140,253 shares of the data storage provider’s stock worth $10,192,000 after acquiring an additional 94,809 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of NetApp by 8.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 768,630 shares of the data storage provider’s stock worth $62,889,000 after purchasing an additional 58,216 shares during the last quarter. CIBC World Markets Inc. grew its position in shares of NetApp by 22.9% in the second quarter. CIBC World Markets Inc. now owns 14,509 shares of the data storage provider’s stock valued at $1,187,000 after purchasing an additional 2,708 shares during the period. Principal Street Partners LLC increased its stake in NetApp by 113.3% in the first quarter. Principal Street Partners LLC now owns 176,527 shares of the data storage provider’s stock valued at $12,828,000 after purchasing an additional 93,755 shares during the last quarter. Finally, Paradiem LLC increased its stake in NetApp by 5.8% in the first quarter. Paradiem LLC now owns 63,291 shares of the data storage provider’s stock valued at $4,771,000 after purchasing an additional 3,466 shares during the last quarter. 91.73% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ NTAP opened at $90.25 on Thursday. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.78 and a current ratio of 1.81. NetApp, Inc. has a 1 year low of $41.90 and a 1 year high of $94.32. The stock’s 50-day simple moving average is $87.87 and its 200-day simple moving average is $81.70. The firm has a market cap of $20.18 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 2.48 and a beta of 1.32.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Tuesday, August 24th. The data storage provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.20. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. NetApp had a return on equity of 151.60% and a net margin of 14.49%. NetApp’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. As a group, research analysts predict that NetApp, Inc. will post 4.23 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 27th. Investors of record on Friday, October 8th will be issued a $0.50 dividend. The ex-dividend date is Thursday, October 7th. This represents a $2.00 annualized dividend and a yield of 2.22%. NetApp’s dividend payout ratio is presently 60.61%.

In other news, CEO George Kurian sold 4,250 shares of the business’s stock in a transaction that occurred on Monday, September 27th. The stock was sold at an average price of $93.48, for a total value of $397,290.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carrie Palin sold 1,867 shares of NetApp stock in a transaction on Tuesday, September 21st. The stock was sold at an average price of $88.73, for a total transaction of $165,658.91. The disclosure for this sale can be found here. Insiders have sold a total of 10,367 shares of company stock worth $933,039 over the last quarter. 0.28% of the stock is currently owned by insiders.

NTAP has been the subject of several recent analyst reports. Credit Suisse Group upped their price objective on shares of NetApp from $90.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, August 26th. Morgan Stanley increased their price target on shares of NetApp from $96.00 to $102.00 and gave the stock an “overweight” rating in a research note on Thursday, September 9th. Citigroup boosted their price objective on shares of NetApp from $50.00 to $55.00 and gave the company a “sell” rating in a research note on Thursday, August 26th. Loop Capital increased their target price on NetApp from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, August 26th. Finally, Northland Securities boosted their price target on NetApp from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, August 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $85.71.

NetApp Profile

NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Volumes ONTAP, NetApp Cloud Sync, NetApp Cloud Secure, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Kubernetes Service, and NetApp Cloud Insights.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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