NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 45.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,409 shares of the data storage provider’s stock after buying an additional 6,079 shares during the period. Mizuho Securities USA LLC’s holdings in NetApp were worth $2,253,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. M&T Bank Corp raised its holdings in shares of NetApp by 4.8% in the 4th quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock valued at $1,485,000 after purchasing an additional 581 shares in the last quarter. Versor Investments LP acquired a new stake in NetApp in the fourth quarter valued at $395,000. AMJ Financial Wealth Management raised its stake in NetApp by 120.7% in the fourth quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider’s stock valued at $7,998,000 after buying an additional 37,684 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in NetApp by 20.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock worth $5,225,000 after buying an additional 7,318 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of NetApp by 9.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock worth $156,268,000 after acquiring an additional 113,360 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Trading Up 3.1 %

Shares of NetApp stock opened at $95.12 on Tuesday. NetApp, Inc. has a 52-week low of $89.88 and a 52-week high of $135.45. The company’s 50-day simple moving average is $112.05 and its 200-day simple moving average is $117.91. The firm has a market cap of $19.35 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.19%. NetApp’s payout ratio is currently 38.52%.

Insider Transactions at NetApp

In other NetApp news, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the sale, the president now directly owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 528 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $92.58, for a total value of $48,882.24. Following the completion of the transaction, the executive vice president now owns 12,900 shares of the company’s stock, valued at approximately $1,194,282. This represents a 3.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,931 shares of company stock valued at $6,252,759 in the last ninety days. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NTAP shares. JPMorgan Chase & Co. decreased their target price on NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company reduced their price objective on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Barclays dropped their target price on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Citigroup reduced their price target on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, Loop Capital dropped their price objective on NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, NetApp has a consensus rating of “Hold” and an average price target of $129.07.

NetApp Profile

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.