APG Asset Management N.V. Buys 106,592 Shares of NetApp, Inc. (NASDAQ:NTAP)

APG Asset Management N.V. grew its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 49.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 323,797 shares of the data storage provider's stock after purchasing an additional 106,592 shares during the period. APG Asset Management N.V. owned approximately 0.16% of NetApp worth $36,298,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of NetApp in the 4th quarter worth $26,000. Assetmark Inc. lifted its holdings in shares of NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after buying an additional 215 shares during the period. Synergy Investment Management LLC acquired a new position in NetApp during the fourth quarter worth $32,000. Golden State Wealth Management LLC acquired a new position in shares of NetApp during the 4th quarter worth $35,000. Finally, OFI Invest Asset Management acquired a new stake in shares of NetApp in the fourth quarter valued at about $39,000. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Price Performance

NASDAQ:NTAP traded up $0.20 during midday trading on Monday, hitting $82.84. 673,709 shares of the stock were exchanged, compared to its average volume of 2,160,484. The business has a 50-day moving average price of $100.27 and a two-hundred day moving average price of $114.11. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The company has a market capitalization of $16.85 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 2.45 and a beta of 1.31. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.

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NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued 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 2.51%. NetApp's payout ratio is presently 38.52%.

Insiders Place Their Bets

In related news, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $123.03, for a total transaction of $1,045,755.00. Following the transaction, the chief executive officer now owns 271,282 shares of the company's stock, valued at approximately $33,375,824.46. This trade represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 19,696 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the transaction, the president now owns 11,928 shares in the company, valued at approximately $1,075,309.20. This trade represents a 62.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,176 shares of company stock worth $5,445,901. Corporate insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NTAP. Keefe, Bruyette & Woods upgraded shares of NetApp to an "outperform" rating in a research report on Wednesday, February 19th. Citigroup reduced their price target on NetApp from $135.00 to $110.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Wells Fargo & Company lowered their target price on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. StockNews.com downgraded shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Loop Capital dropped their target price on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, NetApp has an average rating of "Hold" and a consensus price target of $129.07.

About NetApp

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.