Public Employees Retirement System of Ohio Has $7.40 Million Stake in NetApp, Inc. $NTAP

Public Employees Retirement System of Ohio increased its stake in NetApp, Inc. (NASDAQ:NTAP) by 0.2% in the 2nd quarter, Holdings Channel reports. The firm owned 69,412 shares of the data storage provider’s stock after purchasing an additional 140 shares during the period. Public Employees Retirement System of Ohio’s holdings in NetApp were worth $7,396,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in NTAP. Horizon Investments LLC raised its position in shares of NetApp by 3.8% in the first quarter. Horizon Investments LLC now owns 2,919 shares of the data storage provider’s stock valued at $255,000 after purchasing an additional 107 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in NetApp by 11.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,083 shares of the data storage provider’s stock valued at $115,000 after buying an additional 107 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in NetApp by 54.9% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 124 shares during the period. Hohimer Wealth Management LLC lifted its position in NetApp by 0.4% during the 1st quarter. Hohimer Wealth Management LLC now owns 29,694 shares of the data storage provider’s stock worth $2,608,000 after acquiring an additional 131 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its position in NetApp by 0.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 26,827 shares of the data storage provider’s stock worth $2,356,000 after acquiring an additional 137 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price target on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Wedbush reaffirmed a “neutral” rating and issued a $150.00 target price on shares of NetApp in a report on Thursday, August 28th. Morgan Stanley set a $117.00 price target on NetApp in a report on Thursday, August 28th. UBS Group raised their price objective on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Finally, Citigroup upped their target price on shares of NetApp from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $124.07.

NetApp Price Performance

NASDAQ:NTAP opened at $119.88 on Friday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. The company has a 50-day moving average of $113.04 and a 200-day moving average of $101.82. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.60 and a beta of 1.46.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp’s payout ratio is presently 36.75%.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total value of $123,670.00. Following the sale, the executive vice president directly owned 23,628 shares in the company, valued at $2,922,074.76. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 8,750 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total value of $1,075,462.50. Following the transaction, the chief executive officer owned 274,938 shares of the company’s stock, valued at $33,792,629.58. This represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,750 shares of company stock worth $3,255,778. Corporate insiders own 0.28% of the company’s stock.

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.