Generali Asset Management SPA SGR Takes Position in NetApp, Inc. (NASDAQ:NTAP)

Generali Asset Management SPA SGR acquired a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 37,165 shares of the data storage provider's stock, valued at approximately $4,314,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTAP. M&T Bank Corp lifted its stake in NetApp by 4.8% during the 4th quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider's stock valued at $1,485,000 after acquiring an additional 581 shares during the period. Versor Investments LP acquired a new position in NetApp during the fourth quarter valued at $395,000. Intech Investment Management LLC boosted its holdings in NetApp by 8.9% in the third quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider's stock valued at $37,301,000 after purchasing an additional 24,651 shares during the last quarter. AMJ Financial Wealth Management grew 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 purchasing an additional 37,684 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of NetApp by 20.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider's stock valued at $5,225,000 after buying an additional 7,318 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

NetApp Price Performance

NTAP stock traded up $0.15 during midday trading on Friday, reaching $92.25. The stock had a trading volume of 5,416,936 shares, compared to its average volume of 1,746,932. NetApp, Inc. has a 52-week low of $89.88 and a 52-week high of $135.45. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The company's fifty day simple moving average is $112.44 and its 200 day simple moving average is $118.07. The company has a market cap of $18.76 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

Remove Ads

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.25%. NetApp's payout ratio is presently 38.52%.

Insider Activity at NetApp

In other news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction on Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth M. O'callahan sold 451 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the transaction, the executive vice president now directly owns 12,005 shares in the company, valued at approximately $1,402,063.95. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,931 shares of company stock valued at $6,252,759. Corporate insiders own 0.47% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company reduced their price target on NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Citigroup decreased their target price on shares of NetApp from $135.00 to $110.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Morgan Stanley raised their price target on shares of NetApp from $132.00 to $146.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. Bank of America upgraded shares of NetApp from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. dropped their target price on NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $129.07.

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.