345 Shares in NetApp, Inc. (NASDAQ:NTAP) Acquired by OFI Invest Asset Management

OFI Invest Asset Management purchased a new position in NetApp, Inc. (NASDAQ:NTAP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 345 shares of the data storage provider’s stock, valued at approximately $39,000.

Other hedge funds also recently modified their holdings of the company. KBC Group NV raised its holdings in NetApp by 276.9% during the 4th quarter. KBC Group NV now owns 891,033 shares of the data storage provider’s stock valued at $103,431,000 after acquiring an additional 654,626 shares during the period. Raymond James Financial Inc. bought a new stake in NetApp during the 4th quarter valued at $64,683,000. Geode Capital Management LLC raised its holdings in 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 during the period. Amundi raised its holdings in NetApp by 25.7% during the 4th quarter. Amundi now owns 1,948,917 shares of the data storage provider’s stock valued at $228,492,000 after acquiring an additional 397,871 shares during the period. Finally, Unigestion Holding SA raised its holdings in NetApp by 926.1% during the 3rd quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider’s stock valued at $35,022,000 after acquiring an additional 256,028 shares during the period. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Down 1.8 %

Shares of NASDAQ:NTAP opened at $92.05 on Tuesday. NetApp, Inc. has a 52-week low of $90.12 and a 52-week high of $135.45. The firm has a fifty day moving average of $116.94 and a 200 day moving average of $120.19. The firm has a market capitalization of $18.72 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

NetApp Announces Dividend

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

Insider Buying and Selling

In other NetApp news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the completion of the sale, the chief executive officer now directly owns 279,782 shares in the company, valued at $34,774,104.78. This represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 sale, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,903 shares of company stock worth $7,260,341. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Loop Capital lowered their target price on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Oppenheimer started coverage on shares of NetApp in a report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Northland Securities upped their price target on shares of NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus upped their price target on shares of NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, 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.