NetApp, Inc. (NASDAQ:NTAP) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 11.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 328,566 shares of the data storage provider's stock after purchasing an additional 34,472 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of NetApp worth $40,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of NTAP. AQR Capital Management LLC increased its holdings in shares of NetApp by 59.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider's stock worth $211,637,000 after acquiring an additional 613,583 shares during the period. TCW Group Inc. acquired a new stake in NetApp during the 2nd quarter worth about $56,313,000. Acadian Asset Management LLC boosted its stake in shares of NetApp by 17.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider's stock valued at $359,517,000 after buying an additional 416,233 shares during the period. APG Asset Management US Inc. acquired a new position in NetApp in the 2nd quarter worth about $48,074,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of NetApp by 38.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,232,852 shares of the data storage provider's stock worth $152,270,000 after purchasing an additional 342,415 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

Analyst Upgrades and Downgrades

NTAP has been the topic of several research reports. UBS Group upped their price objective on NetApp from $121.00 to $134.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. Bank of America boosted their target price on NetApp from $105.00 to $110.00 and gave the stock an "underperform" rating in a research note on Thursday, August 29th. Loop Capital upgraded NetApp from a "hold" rating to a "buy" rating and increased their target price for the stock from $121.00 to $150.00 in a report on Tuesday, September 3rd. Evercore ISI upped their price target on shares of NetApp from $120.00 to $130.00 and gave the stock an "in-line" rating in a report on Monday, August 12th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $155.00 target price on shares of NetApp in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $129.06.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O'callahan sold 705 shares of the company's stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares in the company, valued at approximately $1,475,782.80. This represents a 5.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 326 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $117.44, for a total value of $38,285.44. The disclosure for this sale can be found here. Insiders have sold 23,049 shares of company stock worth $2,807,851 in the last three months. Corporate insiders own 0.47% of the company's stock.

NetApp Stock Up 1.0 %

NTAP traded up $1.25 during midday trading on Wednesday, hitting $123.45. The company had a trading volume of 2,412,226 shares, compared to its average volume of 1,812,516. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34. The stock's 50 day moving average price is $121.41 and its 200 day moving average price is $122.35. NetApp, Inc. has a 52 week low of $77.30 and a 52 week high of $135.01. The company has a market capitalization of $25.28 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 3.01 and a beta of 1.24.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. NetApp's revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 EPS. On average, research analysts anticipate that NetApp, Inc. will post 5.71 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Friday, October 4th. NetApp's dividend payout ratio (DPR) is 40.63%.

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.