Sirios Capital Management L P adds NetApp (NTAP) to its portfolio

NetApp (NTAP) : Sirios Capital Management L P added new position in NetApp during the most recent quarter end. The investment management firm now holds 2,489,373 shares of NetApp which is valued at $70,822,662 , the company said in a statement filed on Aug 10, 2016 with the SEC.NetApp makes up approximately 3.25% of Sirios Capital Management L P’s portfolio.

Other Hedge Funds, Including , Evanston Investments Dba Evanston Advisors boosted its stake in NTAP in the latest quarter, The investment management firm added 12,406 additional shares and now holds a total of 240,627 shares of NetApp which is valued at $6,525,804. NetApp makes up approx 2.08% of Evanston Investments Dba Evanston Advisors’s portfolio. Wedge Capital Management L L Pnc sold out all of its stake in NTAP during the most recent quarter. The investment firm sold 58,102 shares of NTAP which is valued $1,530,988.

NetApp opened for trading at $33.57 and hit $34.75 on the upside on Friday, eventually ending the session at $34.71, with a gain of 2.45% or 0.83 points. The heightened volatility saw the trading volume jump to 81,77,149 shares. Company has a market cap of $9,722 M.

On the company’s financial health, NetApp reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 17, 2016. Analyst had a consensus of $0.36. The company had revenue of $1294.00 million for the quarter, compared to analysts expectations of $1260.17 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.29 EPS.

Many Wall Street Analysts have commented on NetApp. NetApp was Upgraded by JP Morgan to ” Neutral” on Aug 18, 2016. NetApp was Upgraded by Susquehanna to ” Positive” on Aug 18, 2016. Company shares were Reiterated by Maxim Group on Aug 15, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $39 .

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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