Penserra Capital Management LLC Has $862,000 Holdings in NetApp, Inc. (NASDAQ:NTAP)

Penserra Capital Management LLC lessened its position in NetApp, Inc. (NASDAQ:NTAP) by 92.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,992 shares of the data storage provider’s stock after selling 85,089 shares during the quarter. Penserra Capital Management LLC’s holdings in NetApp were worth $862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in shares of NetApp by 17.5% in the second quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock worth $359,517,000 after purchasing an additional 416,233 shares during the period. Legal & General Group Plc increased its position in NetApp by 3.5% in the 2nd quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock worth $309,811,000 after buying an additional 82,378 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of NetApp by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,737,578 shares of the data storage provider’s stock worth $223,806,000 after buying an additional 196,952 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of NetApp by 59.6% in the second quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock valued at $211,637,000 after acquiring an additional 613,583 shares during the period. Finally, Boston Partners grew its stake in shares of NetApp by 3.1% in the first quarter. Boston Partners now owns 1,361,262 shares of the data storage provider’s stock worth $142,879,000 after acquiring an additional 41,011 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NetApp stock opened at $122.43 on Thursday. The stock has a market capitalization of $25.07 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 3.04 and a beta of 1.24. The firm’s 50-day moving average price is $122.31 and its two-hundred day moving average price is $122.96. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 1-year low of $77.56 and a 1-year high of $135.45.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company earned $1.23 EPS. NetApp’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts predict that NetApp, Inc. will post 5.79 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.08 annualized dividend and a yield of 1.70%. NetApp’s dividend payout ratio (DPR) is 38.24%.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 705 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction of $88,971.00. Following the transaction, the executive vice president now owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. This represents a 5.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 326 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $117.44, for a total value of $38,285.44. The disclosure for this sale can be found here. Insiders have sold a total of 23,049 shares of company stock valued at $2,807,851 in the last 90 days. 0.47% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NTAP has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Evercore ISI increased their target price on shares of NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research note on Monday, August 12th. Morgan Stanley boosted their price target on NetApp from $127.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Citigroup raised their price objective on NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Wedbush restated a “neutral” rating and set a $120.00 price objective on shares of NetApp in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $134.00.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.