Geode Capital Management LLC Has $738.28 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Geode Capital Management LLC lifted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 8.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,985,673 shares of the data storage provider's stock after purchasing an additional 453,324 shares during the period. Geode Capital Management LLC owned 2.92% of NetApp worth $738,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC increased its holdings in NetApp by 8.9% in the third quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider's stock valued at $37,301,000 after purchasing an additional 24,651 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of NetApp by 20.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider's stock worth $5,225,000 after buying an additional 7,318 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of NetApp by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 186,777 shares of the data storage provider's stock valued at $24,057,000 after acquiring an additional 8,305 shares during the last quarter. Hilton Capital Management LLC acquired a new stake in shares of NetApp in the 3rd quarter valued at approximately $4,059,000. Finally, Legal & General Group Plc boosted its stake in NetApp by 3.5% during 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 acquiring an additional 82,378 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 326 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $117.44, for a total value of $38,285.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O'callahan sold 705 shares of the business's stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the sale, 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 disclosure for this sale can be found here. In the last three months, insiders sold 23,049 shares of company stock worth $2,807,851. 0.47% of the stock is owned by company insiders.

NetApp Stock Up 0.7 %

Shares of NASDAQ NTAP traded up $0.85 during trading hours on Thursday, hitting $123.51. The company had a trading volume of 1,207,524 shares, compared to its average volume of 1,855,596. NetApp, Inc. has a 1-year low of $83.62 and a 1-year high of $135.45. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The firm's 50 day moving average is $122.91 and its 200-day moving average is $123.91. The stock has a market capitalization of $25.11 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the firm posted $1.23 EPS. The company's quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts expect that NetApp, Inc. will post 5.83 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.68%. NetApp's payout ratio is 38.24%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NTAP shares. Loop Capital raised shares of NetApp from a "hold" rating to a "buy" rating and boosted their price target for the company from $121.00 to $150.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. increased their price target on NetApp from $146.00 to $147.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. Bank of America boosted their price objective on NetApp from $115.00 to $121.00 and gave the company an "underperform" rating in a research report on Friday, November 22nd. Wells Fargo & Company raised their target price on shares of NetApp from $135.00 to $140.00 and gave the stock an "equal weight" rating in a report on Friday, November 22nd. Finally, Northland Securities upped their price target on shares of NetApp from $108.00 to $120.00 and gave the company a "market perform" rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, NetApp currently has a consensus rating of "Hold" and an average price target of $137.40.

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.