(NASDAQ:NTAP) by 19.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). Aimz Investment Advisors Llc owns 84,096 shares or 2.65% of their United States portfolio.
Other large investors have also added to or reduced their stakes in the company. First Quadrant L P CA raised its position in shares of NetApp by 41.3% in the first quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider's stock worth $673,000 after buying an additional 100 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in NetApp during the first quarter worth approximately $209,000. The stock has a market cap of $11.40 billion, a P/E ratio of 23.19 and a beta of 1.21. Finally, Gulf International Bank UK Ltd raised its position in shares of NetApp by 1.1% in the first quarter. DnB Asset Management AS now owns 31,497 shares of the data storage provider's stock valued at $1,318,000 after buying an additional 3,400 shares during the last quarter. Moreover, Lyons Wealth Management Llc. has 2.37% invested in the company for 49,245 shares. 7,735,121 shares of the company's stock traded hands.
Among 12 analysts covering Bank Of Montreal (NYSE:BMO), 4 have Buy rating, 0 Sell and 8 Hold. Netapp Inc now has $10.82B valuation. (NTAP) traded up 1.05% on Wednesday, reaching $42.41. The company has a 50 day moving average price of $42.06 and a 200-day moving average price of $40.70. NetApp has a 52-week low of $30.36 and a 52-week high of $45.24.
NetApp (NTAP) late Wednesday reported fiscal first-quarter profit and revenue growth above expectations, but its current-quarter guidance was light. NetApp said it expects revenue to be in the range of $1.31 billion to $1.46 billion vs. consensus estimates of $1.37 billion. Company fiscal year is ending in April and analysts' consensus recommendation is Hold for NTAP and estimated EPS for next quarter is $ 0.74.
So with stable revenues and a strategic business that offsets legacy revenue declines, this cash balance makes the stock attractive. Analysts expected NetApp to report earnings of 55 cents on sales of $1.32 billion for the period ended July 28. This is a positive change from NetApp's previous quarterly dividend of $0.19. Stockholders of record on Friday, October 6th will be issued a $0.20 dividend. NetApp's payout ratio is now 44.20%.
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Other research analysts also recently issued research reports about the company. Zacks Investment Research raised shares of NetApp from a "sell" rating to a "hold" rating in a research report on Monday, May 8th. Finally, Piper Jaffray Companies set a $50.00 price objective on NetApp and gave the stock a "buy" rating in a research report on Monday. (The) raised shares of NetApp from a "neutral" rating to a "buy" rating and lifted their price target for the company from $46.00 to $47.00 in a research report on Friday, July 14th. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have issued a buy rating to the stock. $35's average target is -12.02% below currents $39.78 stock price. Following the sale, the chief executive officer now directly owns 65,123 shares in the company, valued at $2,612,734.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO George Kurian sold 4,000 shares of the business's stock in a transaction on Tuesday, May 30th. Following the completion of the sale, the senior vice president now directly owns 2,117 shares in the company, valued at approximately $83,790.86. The disclosure for this sale can be found here. Stock has got OUTPERFORM rating from 7 analyst (s) whereas last month 7 analyst (s) have given outperform rating.
NetApp, Inc. provides software, systems and services to manage and store customer data. The Company's FlexPod portfolio includes FlexPod Datacenter for core enterprise data centers and service providers, FlexPod Express for medium-sized businesses and branch offices, and FlexPod Select for data-intensive workloads.