Mutual of America Capital Management LLC Buys 204 Shares of NetApp, Inc. (NASDAQ:NTAP)

Mutual of America Capital Management LLC grew its stake in shares of NetApp, Inc. (NASDAQ:NTAPGet Rating) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,300 shares of the data storage provider’s stock after buying an additional 204 shares during the quarter. Mutual of America Capital Management LLC’s holdings in NetApp were worth $2,694,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in shares of NetApp by 7.7% during the second quarter. Exchange Traded Concepts LLC now owns 2,269 shares of the data storage provider’s stock worth $148,000 after purchasing an additional 163 shares during the period. CENTRAL TRUST Co boosted its holdings in shares of NetApp by 43.0% during the first quarter. CENTRAL TRUST Co now owns 552 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 166 shares during the period. Tealwood Asset Management Inc. boosted its holdings in shares of NetApp by 0.5% during the second quarter. Tealwood Asset Management Inc. now owns 32,892 shares of the data storage provider’s stock worth $2,146,000 after purchasing an additional 172 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of NetApp by 0.8% during the first quarter. CIBC Asset Management Inc now owns 21,729 shares of the data storage provider’s stock worth $1,804,000 after purchasing an additional 180 shares during the period. Finally, Mission Wealth Management LP boosted its holdings in shares of NetApp by 6.0% during the second quarter. Mission Wealth Management LP now owns 3,503 shares of the data storage provider’s stock worth $229,000 after purchasing an additional 198 shares during the period. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Price Performance

Shares of NTAP opened at $73.88 on Wednesday. The company has a market capitalization of $16.06 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. The company has a quick ratio of 1.31, a current ratio of 1.38 and a debt-to-equity ratio of 3.63. The firm has a 50 day moving average of $67.19 and a 200 day moving average of $68.79. NetApp, Inc. has a twelve month low of $60.56 and a twelve month high of $96.82.

NetApp (NASDAQ:NTAPGet Rating) last posted its earnings results on Wednesday, August 24th. The data storage provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.11. NetApp had a net margin of 14.71% and a return on equity of 128.71%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The firm’s revenue was up 9.2% on a year-over-year basis. As a group, equities research analysts anticipate that NetApp, Inc. will post 4.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NetApp news, President Cesar Cernuda sold 18,000 shares of NetApp stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $69.82, for a total value of $1,256,760.00. Following the completion of the sale, the president now owns 78,463 shares of the company’s stock, valued at approximately $5,478,286.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NTAP has been the subject of several research analyst reports. StockNews.com lowered shares of NetApp from a “buy” rating to a “hold” rating in a report on Wednesday, November 16th. Evercore ISI raised their price objective on shares of NetApp to $78.00 in a report on Tuesday, August 23rd. Susquehanna Bancshares lowered shares of NetApp to a “neutral” rating and lowered their price objective for the stock from $100.00 to $75.00 in a report on Monday, September 19th. UBS Group lowered their price objective on shares of NetApp from $91.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Finally, Barclays raised their price objective on shares of NetApp from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, August 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $86.50.

NetApp Company Profile

(Get Rating)

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, NetApp ElementOS software, and NetApp SANtricity software; and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, and NetApp SolidFire.

Further Reading

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.