NetApp, Inc. (NASDAQ:NTAP) Stake Raised by PGGM Investments

PGGM Investments raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,133 shares of the data storage provider’s stock after acquiring an additional 777 shares during the quarter. PGGM Investments’ holdings in NetApp were worth $6,980,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NTAP. State Street Corp grew its position in NetApp by 2.0% during the third quarter. State Street Corp now owns 10,261,170 shares of the data storage provider’s stock valued at $1,267,357,000 after purchasing an additional 199,384 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of NetApp by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock valued at $738,280,000 after acquiring an additional 453,324 shares in the last quarter. Amundi increased its stake in shares of NetApp by 25.7% in the fourth quarter. Amundi now owns 1,948,917 shares of the data storage provider’s stock worth $228,492,000 after acquiring an additional 397,871 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of NetApp by 9.2% during the fourth 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. Finally, Charles Schwab Investment Management Inc. boosted its position in NetApp by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,287,432 shares of the data storage provider’s stock valued at $149,445,000 after purchasing an additional 27,857 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $90.06 on Friday. The company has a market cap of $18.32 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 2.45 and a beta of 1.24. The business has a 50 day moving average price of $115.43 and a 200 day moving average price of $119.48. 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, Inc. has a twelve month low of $89.88 and a twelve month high of $135.45.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be given a $0.52 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.31%. NetApp’s dividend payout ratio is 38.52%.

Insider Transactions at NetApp

In other news, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This represents a 44.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 451 shares of NetApp stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $116.79, for a total value of $52,672.29. Following the sale, the executive vice president now directly owns 12,005 shares in the company, valued at approximately $1,402,063.95. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,431 shares of company stock worth $7,309,224. Insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup dropped their target price on NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. TD Cowen dropped their price objective on NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, February 28th. StockNews.com downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Wedbush restated a “neutral” rating and set a $110.00 price target (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently 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.