Mercer Global Advisors Inc. ADV Purchases 1,137 Shares of NetApp, Inc. (NASDAQ:NTAP)

Mercer Global Advisors Inc. ADV lifted its position in NetApp, Inc. (NASDAQ:NTAPGet Rating) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,484 shares of the data storage provider’s stock after acquiring an additional 1,137 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in NetApp were worth $3,908,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in shares of NetApp by 150.4% in the third quarter. Assetmark Inc. now owns 288 shares of the data storage provider’s stock valued at $26,000 after acquiring an additional 173 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. raised its holdings in shares of NetApp by 57.9% in the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 300 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 110 shares in the last quarter. Achmea Investment Management B.V. bought a new stake in shares of NetApp in the third quarter valued at about $35,000. Gradient Investments LLC bought a new stake in shares of NetApp in the fourth quarter valued at about $37,000. Finally, Allworth Financial LP raised its holdings in shares of NetApp by 39.1% in the third quarter. Allworth Financial LP now owns 491 shares of the data storage provider’s stock valued at $44,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

In other NetApp news, CEO George Kurian sold 4,250 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $90.39, for a total value of $384,157.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 14,000 shares of the firm’s stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $80.79, for a total value of $1,131,060.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,750 shares of company stock valued at $2,252,933. Corporate insiders own 0.28% of the company’s stock.

A number of equities analysts have commented on NTAP shares. William Blair reiterated an “outperform” rating on shares of NetApp in a report on Wednesday, March 23rd. Susquehanna Bancshares boosted their target price on shares of NetApp from $105.00 to $110.00 and gave the stock a “positive” rating in a report on Thursday, February 24th. UBS Group started coverage on shares of NetApp in a report on Tuesday, April 5th. They issued a “neutral” rating and a $91.00 target price for the company. Wedbush reiterated a “neutral” rating and issued a $85.00 target price on shares of NetApp in a report on Wednesday, March 23rd. Finally, Morgan Stanley downgraded shares of NetApp from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $102.00 to $91.00 in a report on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, NetApp currently has an average rating of “Buy” and an average target price of $99.26.

NetApp stock traded up $0.83 during mid-day trading on Tuesday, hitting $76.98. The company had a trading volume of 13,427 shares, compared to its average volume of 1,946,045. The company has a current ratio of 1.55, a quick ratio of 1.51 and a debt-to-equity ratio of 2.70. NetApp, Inc. has a 12-month low of $72.04 and a 12-month high of $96.82. The company’s fifty day moving average is $83.60 and its 200-day moving average is $87.80. The company has a market capitalization of $17.13 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 2.02 and a beta of 1.23.

NetApp (NASDAQ:NTAPGet Rating) last released its quarterly earnings data on Wednesday, February 23rd. The data storage provider reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.13. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. NetApp had a return on equity of 126.47% and a net margin of 16.34%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. As a group, sell-side analysts expect that NetApp, Inc. will post 4.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 27th. Stockholders of record on Friday, April 8th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, April 7th. NetApp’s payout ratio is 45.25%.

NetApp Profile (Get Rating)

NetApp, Inc provides software, systems, and cloud services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud storage services, including NetApp Cloud Volumes; cloud control solutions, such as NetApp Cloud Manager and NetApp Virtual Desktop Service; cloud services and analytics comprising NetApp Cloud Insights, NetApp Cloud Sync, NetApp Cloud Compliance, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Cloud Backup, and NetApp Global File Cache; and Cloud Optimization solutions, such as Spot by NetApp, Spot Cloud Analyzer by NetApp, Spot Eco by NetApp, Spot Ocean by NetApp, Spot Wave by NetApp, Spot Elastigroup by NetApp, and NetApp Virtual Desktop Managed Service.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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