Efficient Market Advisors Exits Position in NetApp (NTAP)

NetApp (NTAP) : Efficient Market Advisors has sold out all of its stake in NetApp during the most recent quarter, according to the disclosure filed by the company on Aug 2, 2016 with the SEC. The investment management company has sold out 11,000 shares of NetApp which is valued at $288,420.

Other Hedge Funds, Including , Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in NTAP in the latest quarter, The investment management firm added 1,339 additional shares and now holds a total of 43,691 shares of NetApp which is valued at $1,145,578. NetApp makes up approx 0.03% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio. Achievement Holdings added NTAP to its portfolio by purchasing 8,800 company shares during the most recent quarter which is valued at $232,144. NetApp makes up approx 0.03% of Achievement Holdings’s portfolio. Jensen Investment Management Inc added NTAP to its portfolio by purchasing 17,290 company shares during the most recent quarter which is valued at $456,110. NetApp makes up approx 0.01% of Jensen Investment Management Inc’s portfolio.

NetApp opened for trading at $27.18 and hit $27.45 on the upside on Monday, eventually ending the session at $27.45, with a gain of 1.22% or 0.33 points. The heightened volatility saw the trading volume jump to 18,29,854 shares. Company has a market cap of $7,688 M.

On the company’s financial health, NetApp reported $0.55 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 25, 2016. Analyst had a consensus of $0.58. The company had revenue of $1380.00 million for the quarter, compared to analysts expectations of $1403.53 million. The company’s revenue was down -10.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on NetApp. Shares were Reiterated by RBC Capital Mkts on May 24, 2016 to “Sector Perform” and Lowered the Price Target to $ 26 from a previous price target of $29 .

NetApp Inc. (NetApp) is engaged in providing software systems and services to manage and store customer data. The Company offers a portfolio of products and services to a range of customer workloads across various data types and deployment models. Its data management solutions enable customers on-premises or in a public cloud resource to control integrate move and manage it. It offers both all-flash arrays and hybrid flash arrays and its portfolio includes hybrid and all-flash storage offerings. The Company also offers FlexPod solutions for workloads such as big data HPC and video analytics that integrate Hadoop. Its scale-out fabric-attached storage (FAS) platform uses the NetApp Data ONTAP storage operating system. Its Data ONTAP software delivers data protection data management and software for virtualized shared infrastructures cloud computing and mixed workload business applications. The Company focuses on the data management and storage markets.

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