Lbp Am Sa Grows Position in NetApp, Inc. (NASDAQ:NTAP)

LBP AM SA grew its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,846 shares of the data storage provider's stock after buying an additional 4,780 shares during the period. LBP AM SA owned 0.06% of NetApp worth $14,724,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

NTAP has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Susquehanna downgraded shares of NetApp from a "positive" rating to a "neutral" rating and dropped their target price for the company from $155.00 to $130.00 in a report on Monday, February 10th. Stifel Nicolaus boosted their target price on NetApp from $140.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. StockNews.com lowered NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Citigroup cut their price objective on NetApp from $135.00 to $110.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, NetApp has a consensus rating of "Hold" and an average price target of $129.07.

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NetApp Stock Down 1.1 %

NASDAQ:NTAP traded down $1.02 during trading hours on Tuesday, hitting $92.26. The company's stock had a trading volume of 2,552,908 shares, compared to its average volume of 1,725,033. The stock has a market capitalization of $18.77 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. 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 stock has a fifty day moving average of $114.43 and a 200-day moving average of $118.83. NetApp, Inc. has a 52-week low of $89.88 and a 52-week high of $135.45.

NetApp Dividend Announcement

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

Insider Buying and Selling

In related news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction 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 sale, the chief executive officer now directly owns 271,282 shares in the company, valued at $33,375,824.46. This trade represents a 3.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O'callahan sold 528 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the completion of the sale, the executive vice president now directly owns 12,900 shares of the company's stock, valued at approximately $1,194,282. This trade represents a 3.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,931 shares of company stock worth $6,252,759 over the last 90 days. 0.47% of the stock is owned by 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.