Amundi Has $228.49 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Amundi raised its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 25.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,948,917 shares of the data storage provider's stock after acquiring an additional 397,871 shares during the period. Amundi owned approximately 0.96% of NetApp worth $228,492,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Versor Investments LP acquired a new stake in NetApp in the 4th quarter valued at $395,000. M&T Bank Corp grew its stake in shares of NetApp by 4.8% in 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 in the last quarter. Intech Investment Management LLC raised its holdings in shares of NetApp by 8.9% during the 3rd quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider's stock valued at $37,301,000 after buying an additional 24,651 shares during the period. AMJ Financial Wealth Management lifted its position in NetApp by 120.7% during the 4th quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider's stock worth $7,998,000 after acquiring an additional 37,684 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in NetApp by 20.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider's stock worth $5,225,000 after acquiring an additional 7,318 shares during the period. Hedge funds and other institutional investors own 92.17% of the company's stock.

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Analyst Ratings Changes

NTAP has been the subject of several analyst reports. Morgan Stanley upped their target price on shares of NetApp from $132.00 to $146.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 17th. Wells Fargo & Company lowered their target price on NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a report on Wednesday, February 19th. Oppenheimer assumed coverage on NetApp in a report on Wednesday, November 13th. They set a "market perform" rating on the stock. Finally, Stifel Nicolaus increased their target price on NetApp from $140.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $129.07.

NetApp Price Performance

Shares of NTAP traded down $0.27 during trading hours on Tuesday, hitting $91.78. 1,413,166 shares of the company were exchanged, compared to its average volume of 1,848,630. The firm has a fifty day simple moving average of $116.94 and a 200-day simple moving average of $120.19. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The company has a market capitalization of $18.67 billion, a PE ratio of 16.89, a PEG ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a one year low of $90.08 and a one year high of $135.45.

NetApp Dividend Announcement

The business also recently declared 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, April 4th. NetApp's dividend payout ratio (DPR) is 38.52%.

Insider Buying and Selling

In other news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Monday, December 16th. The stock was 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. The trade was a 2.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael J. Berry sold 12,500 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total value of $1,509,250.00. Following the completion of the transaction, the chief financial officer now owns 123,243 shares in the company, valued at $14,880,359.82. This represents a 9.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,903 shares of company stock worth $7,260,341. 0.47% of the stock is owned by company insiders.

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.