Illinois Municipal Retirement Fund Makes New $619,000 Investment in NetApp Inc. (NASDAQ:NTAP)

Illinois Municipal Retirement Fund bought a new stake in shares of NetApp Inc. (NASDAQ:NTAP) during the fourth quarter, Holdings Channel reports. The fund bought 9,949 shares of the data storage provider’s stock, valued at approximately $619,000.

Other large investors have also made changes to their positions in the company. Maverick Capital Ltd. lifted its position in shares of NetApp by 193.4% during the 3rd quarter. Maverick Capital Ltd. now owns 72,287 shares of the data storage provider’s stock valued at $3,796,000 after buying an additional 47,647 shares in the last quarter. Andra AP fonden lifted its position in shares of NetApp by 0.4% during the 3rd quarter. Andra AP fonden now owns 95,700 shares of the data storage provider’s stock valued at $5,025,000 after buying an additional 400 shares in the last quarter. Millennium Management LLC lifted its position in shares of NetApp by 411.8% during the 3rd quarter. Millennium Management LLC now owns 600,711 shares of the data storage provider’s stock valued at $31,543,000 after buying an additional 483,335 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of NetApp during the 3rd quarter valued at approximately $134,000. Finally, Comerica Bank lifted its position in shares of NetApp by 14.4% during the 3rd quarter. Comerica Bank now owns 83,506 shares of the data storage provider’s stock valued at $4,631,000 after buying an additional 10,484 shares in the last quarter. Hedge funds and other institutional investors own 98.26% of the company’s stock.

In other NetApp news, CAO Scott R. Allen sold 2,781 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $62.23, for a total value of $173,061.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Henri P. Richard sold 2,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $64.20, for a total value of $160,500.00. Following the completion of the sale, the executive vice president now directly owns 143,855 shares of the company’s stock, valued at $9,235,491. The disclosure for this sale can be found here. Insiders sold a total of 5,284 shares of company stock worth $333,743 in the last 90 days. 0.33% of the stock is currently owned by insiders.

A number of brokerages have recently issued reports on NTAP. William Blair reiterated a “market perform” rating on shares of NetApp in a research report on Thursday, November 14th. TheStreet lowered NetApp from a “b” rating to a “c+” rating in a research report on Wednesday. Morgan Stanley increased their target price on NetApp from $47.00 to $49.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Stifel Nicolaus decreased their target price on NetApp from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Maxim Group increased their target price on NetApp from $66.00 to $74.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. NetApp currently has an average rating of “Hold” and a consensus target price of $63.26.

Shares of NTAP stock opened at $54.24 on Friday. The stock’s fifty day moving average is $60.10 and its two-hundred day moving average is $56.27. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.27 and a current ratio of 1.31. The firm has a market capitalization of $12.59 billion, a P/E ratio of 15.41, a PEG ratio of 1.25 and a beta of 1.58. NetApp Inc. has a fifty-two week low of $44.55 and a fifty-two week high of $78.35.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, February 12th. The data storage provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.47 billion. NetApp had a net margin of 18.19% and a return on equity of 103.11%. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.20 EPS. On average, equities analysts forecast that NetApp Inc. will post 3.72 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.92 dividend on an annualized basis and a yield of 3.54%. NetApp’s payout ratio is currently 47.76%.

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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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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