Caxton Associates LP Invests $411,000 in NetApp, Inc. (NASDAQ:NTAP)

Caxton Associates LP acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,656 shares of the data storage provider’s stock, valued at approximately $411,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in NetApp by 196.6% in the 1st quarter. CWM LLC now owns 442 shares of the data storage provider’s stock valued at $32,000 after purchasing an additional 293 shares in the last quarter. First Command Bank acquired a new stake in NetApp in the 1st quarter valued at $32,000. Global Retirement Partners LLC increased its holdings in NetApp by 62.9% in the 1st quarter. Global Retirement Partners LLC now owns 479 shares of the data storage provider’s stock valued at $35,000 after purchasing an additional 185 shares in the last quarter. AGF Investments LLC increased its holdings in NetApp by 97.2% in the 1st quarter. AGF Investments LLC now owns 489 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 241 shares in the last quarter. Finally, First Horizon Advisors Inc. acquired a new stake in NetApp in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 90.57% of the company’s stock.

In other NetApp news, President Cesar Cernuda sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 15th. The shares were sold at an average price of $82.84, for a total value of $1,159,760.00. Following the sale, the president now owns 37,700 shares in the company, valued at $3,123,068. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is currently owned by company insiders.

NTAP has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on NetApp from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, June 3rd. Loop Capital raised their target price on NetApp from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, June 3rd. Zacks Investment Research upgraded NetApp from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Tuesday, May 18th. Deutsche Bank Aktiengesellschaft raised their target price on NetApp from $64.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, June 3rd. Finally, OTR Global upgraded NetApp from a “mixed” rating to a “positive” rating in a research note on Thursday, April 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $72.39.

Shares of NASDAQ NTAP opened at $78.30 on Thursday. The company has a quick ratio of 1.71, a current ratio of 1.74 and a debt-to-equity ratio of 3.84. The stock has a 50-day simple moving average of $80.19. NetApp, Inc. has a 52-week low of $40.08 and a 52-week high of $84.19. The company has a market capitalization of $17.48 billion, a PE ratio of 23.64, a P/E/G ratio of 2.30 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last issued its earnings results on Tuesday, June 1st. The data storage provider reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.05. NetApp had a net margin of 12.71% and a return on equity of 164.35%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the company posted $1.19 earnings per share. NetApp’s revenue was up 11.0% on a year-over-year basis. On average, research analysts anticipate that NetApp, Inc. will post 3.87 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 28th. Shareholders of record on Friday, July 9th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 8th. This represents a $2.00 annualized dividend and a dividend yield of 2.55%. This is a positive change from NetApp’s previous quarterly dividend of $0.48. NetApp’s dividend payout ratio (DPR) is presently 60.61%.

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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