NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 453.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,094 shares of the data storage provider’s stock after purchasing an additional 91,823 shares during the period. Teacher Retirement System of Texas’ holdings in NetApp were worth $8,146,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. First Horizon Advisors Inc. bought a new position in shares of NetApp during the first quarter worth about $35,000. Rockefeller Capital Management L.P. grew its position in shares of NetApp by 20.6% during the first quarter. Rockefeller Capital Management L.P. now owns 22,085 shares of the data storage provider’s stock worth $1,604,000 after acquiring an additional 3,766 shares during the last quarter. Fiera Capital Corp grew its position in shares of NetApp by 4.3% during the first quarter. Fiera Capital Corp now owns 49,860 shares of the data storage provider’s stock worth $3,623,000 after acquiring an additional 2,060 shares during the last quarter. Barings LLC grew its position in shares of NetApp by 6.2% during the first quarter. Barings LLC now owns 8,928 shares of the data storage provider’s stock worth $649,000 after acquiring an additional 524 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC grew its position in shares of NetApp by 79.7% during the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 5,913 shares of the data storage provider’s stock worth $430,000 after acquiring an additional 2,623 shares during the last quarter. 90.84% of the stock is currently owned by institutional investors.

NTAP stock opened at $83.63 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.74 and a debt-to-equity ratio of 3.84. NetApp, Inc. has a one year low of $39.96 and a one year high of $84.19. The stock has a market capitalization of $18.62 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 2.38 and a beta of 1.28. The firm’s 50-day moving average price is $77.10.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Tuesday, June 1st. The data storage provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. NetApp had a net margin of 12.71% and a return on equity of 164.35%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, analysts forecast that NetApp, Inc. will post 3.87 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Friday, July 9th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from NetApp’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, July 8th. NetApp’s dividend payout ratio is 58.18%.

Several equities analysts have recently commented on NTAP shares. Zacks Investment Research upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Tuesday, May 18th. Loop Capital increased their target price on shares of NetApp from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, June 3rd. Stifel Nicolaus increased their target price on shares of NetApp from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, February 25th. They noted that the move was a valuation call. Daiwa Capital Markets upgraded shares of NetApp from a “neutral” rating to an “outperform” rating and set a $70.00 target price for the company in a research report on Friday, February 26th. Finally, OTR Global upgraded shares of NetApp from a “mixed” rating to a “positive” rating in a research report on Thursday, April 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $69.37.

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 Sync, NetApp Cloud Tiering, NetApp Global File Cache, NetApp SaaS Backup, NetApp Cloud Manager, NetApp Fabric Orchestrator, and NetApp Cloud Insights.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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