BI Asset Management Fondsmaeglerselskab A S Purchases 147,465 Shares of NetApp, Inc. (NASDAQ:NTAP)

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 81.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 329,414 shares of the data storage provider's stock after acquiring an additional 147,465 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.16% of NetApp worth $38,238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in NetApp during the 4th quarter worth approximately $26,000. Assetmark Inc. lifted its stake 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 acquiring an additional 215 shares during the last quarter. Synergy Investment Management LLC acquired a new stake in shares of NetApp during the 4th quarter valued at $32,000. Golden State Wealth Management LLC bought a new stake in NetApp during the 4th quarter worth $35,000. Finally, OFI Invest Asset Management bought a new position in NetApp in the fourth quarter valued at about $39,000. Institutional investors own 92.17% of the company's stock.

Insider Buying and Selling at NetApp

In related news, Director Anders Gustafsson purchased 2,800 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average cost of $91.00 per share, with a total value of $254,800.00. Following the transaction, the director now owns 6,348 shares of the company's stock, valued at $577,668. This represents a 78.92 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth M. O'callahan sold 452 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $120.75, for a total transaction of $54,579.00. Following the transaction, the executive vice president now owns 11,553 shares in the company, valued at approximately $1,395,024.75. This trade represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,176 shares of company stock worth $5,095,701. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NTAP shares. Barclays reduced their price target on NetApp from $132.00 to $115.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. 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. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. JPMorgan Chase & Co. cut their target price on NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a research note on Wednesday, February 19th. 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.com, NetApp currently has a consensus rating of "Hold" and an average target price of $125.07.

NetApp Stock Up 3.7 %

NTAP stock traded up $3.18 during trading on Thursday, reaching $88.06. 920,392 shares of the stock were exchanged, compared to its average volume of 1,923,348. 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 twelve month low of $71.84 and a twelve month high of $135.45. The firm's 50 day moving average is $94.13 and its 200 day moving average is $112.03. The firm has a market cap of $17.91 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Friday, April 4th. NetApp's payout ratio is currently 38.52%.

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.