BI Asset Management Fondsmaeglerselskab A S Increases Stake in NetApp, Inc. (NASDAQ:NTAP)

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 81.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 329,414 shares of the data storage provider’s stock after purchasing an additional 147,465 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.16% of NetApp worth $38,238,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. M&T Bank Corp grew its holdings in shares of NetApp by 4.8% during the fourth quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock valued at $1,485,000 after buying an additional 581 shares during the last quarter. Versor Investments LP purchased a new stake in NetApp during the 4th quarter valued at about $395,000. AMJ Financial Wealth Management increased its holdings in shares of 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 purchasing an additional 37,684 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of NetApp by 9.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock valued at $156,268,000 after purchasing an additional 113,360 shares during the period. Finally, Brandywine Global Investment Management LLC purchased a new position in shares of NetApp in the fourth quarter worth about $5,151,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

NTAP has been the topic of several research reports. TD Cowen cut their price target on shares of NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Susquehanna cut shares of NetApp from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Barclays decreased their target price on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. cut their price target on NetApp from $153.00 to $113.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, StockNews.com cut NetApp from a “buy” rating to a “hold” rating in a report 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’s stock. Based on data from MarketBeat.com, NetApp has an average rating of “Hold” and a consensus price target of $125.07.

NetApp Trading Up 1.5 %

NTAP stock opened at $82.61 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The stock has a market cap of $16.80 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 2.45 and a beta of 1.31. The business’s 50-day moving average is $96.24 and its 200 day moving average is $112.86.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.52%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Insider Transactions at NetApp

In related news, President Cesar Cernuda sold 19,696 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the transaction, the president now directly owns 11,928 shares in the company, valued at approximately $1,075,309.20. The trade was a 62.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael J. Berry sold 12,500 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the completion of the sale, the chief financial officer now owns 123,243 shares of the company’s stock, valued at approximately $14,880,359.82. The trade was a 9.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,176 shares of company stock valued at $5,445,901 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

NetApp Company 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.