NetApp, Inc. (NASDAQ:NTAP) Stock Holdings Lifted by Andra AP fonden

Andra AP fonden boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 679,900 shares of the data storage provider’s stock after purchasing an additional 97,000 shares during the period. NetApp comprises 1.3% of Andra AP fonden’s portfolio, making the stock its 3rd biggest holding. Andra AP fonden owned about 0.33% of NetApp worth $78,923,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Resonant Capital Advisors LLC raised its stake in shares of NetApp by 1.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock worth $516,000 after buying an additional 80 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of NetApp by 22.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock worth $64,000 after buying an additional 100 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of NetApp by 2.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider’s stock worth $534,000 after buying an additional 111 shares during the period. Wealthspire Advisors LLC raised its stake in shares of NetApp by 4.1% in the fourth quarter. Wealthspire Advisors LLC now owns 3,132 shares of the data storage provider’s stock worth $364,000 after buying an additional 123 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of NetApp by 2.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,448 shares of the data storage provider’s stock worth $796,000 after buying an additional 128 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NetApp

In other news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total value of $1,011,840.00. Following the completion of the transaction, the chief executive officer now owns 266,765 shares of the company’s stock, valued at approximately $31,755,705.60. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,903 shares of company stock worth $7,260,341. 0.47% of the stock is currently owned by company insiders.

NetApp Stock Performance

NASDAQ NTAP opened at $91.86 on Friday. The stock has a market capitalization of $18.69 billion, a PE ratio of 16.89, a P/E/G ratio of 2.45 and a beta of 1.24. The business has a 50 day simple moving average of $117.89 and a two-hundred day simple moving average of $120.89. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp, Inc. has a 1-year low of $91.19 and a 1-year high of $135.45.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, April 4th. NetApp’s dividend payout ratio (DPR) is 38.52%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NTAP shares. Barclays decreased their price objective on NetApp from $132.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Northland Securities lifted their target price on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. Citigroup decreased their target price on NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday. Morgan Stanley lifted their target price on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. decreased their target price on NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $129.07.

About NetApp

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, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.