Mariner LLC Has $58.05 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Mariner LLC increased its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,117 shares of the data storage provider's stock after purchasing an additional 9,154 shares during the period. Mariner LLC owned approximately 0.25% of NetApp worth $58,054,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of NetApp by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock worth $3,069,617,000 after acquiring an additional 429,343 shares in the last quarter. Invesco Ltd. boosted its position in NetApp by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider's stock worth $362,544,000 after purchasing an additional 529,471 shares during the period. Beutel Goodman & Co Ltd. grew its holdings in NetApp by 0.4% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider's stock valued at $335,215,000 after purchasing an additional 12,919 shares during the last quarter. Norges Bank acquired a new position in NetApp during the fourth quarter valued at approximately $306,440,000. Finally, Boston Partners raised its position in shares of NetApp by 53.9% in the fourth quarter. Boston Partners now owns 2,083,189 shares of the data storage provider's stock valued at $241,867,000 after purchasing an additional 729,394 shares during the period. 92.17% of the stock is currently owned by institutional investors.

NetApp Price Performance

NTAP traded up $1.26 during midday trading on Friday, reaching $82.61. 1,602,025 shares of the company's stock were exchanged, compared to its average volume of 1,929,117. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The firm has a market capitalization of $16.80 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. The business has a 50-day simple moving average of $96.24 and a two-hundred day simple moving average of $112.86. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Friday, April 4th. NetApp's dividend payout ratio (DPR) is 38.52%.

Insiders Place Their Bets

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

Analyst Ratings Changes

NTAP has been the topic of a number of research analyst reports. StockNews.com lowered shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a research report on Wednesday, February 19th. Loop Capital decreased their target price on NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. dropped their price target on NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Wedbush reissued a "neutral" rating and issued a $110.00 price objective (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $125.07.

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.