Pictet Asset Management Holding SA Has $33.72 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Pictet Asset Management Holding SA grew its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 290,517 shares of the data storage provider's stock after buying an additional 30,527 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.14% of NetApp worth $33,723,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in NTAP. Resonant Capital Advisors LLC raised its stake in NetApp by 1.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock valued at $516,000 after purchasing an additional 80 shares during the period. Larson Financial Group LLC grew its stake in NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after acquiring an additional 92 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of NetApp by 22.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock valued at $64,000 after purchasing an additional 100 shares during the period. Moors & Cabot Inc. lifted its position in shares of NetApp by 3.6% in the fourth quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock worth $337,000 after purchasing an additional 100 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of NetApp by 2.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock worth $534,000 after purchasing an additional 111 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

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NetApp Stock Performance

NASDAQ:NTAP traded down $5.51 during midday trading on Friday, reaching $76.10. The stock had a trading volume of 3,381,917 shares, compared to its average volume of 1,870,543. The stock has a market capitalization of $15.48 billion, a P/E ratio of 13.99, a PEG ratio of 2.45 and a beta of 1.31. NetApp, Inc. has a 1-year low of $74.83 and a 1-year high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The firm's fifty day simple moving average is $105.85 and its 200-day simple moving average is $116.14.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, April 4th. NetApp's dividend payout ratio is currently 38.52%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NTAP shares. JPMorgan Chase & Co. dropped their price objective on shares of NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods upgraded NetApp to an "outperform" rating in a report on Wednesday, February 19th. Citigroup lowered their target price on NetApp from $135.00 to $110.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Loop Capital reduced their price target on NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Finally, Wedbush reissued a "neutral" rating and issued a $110.00 price target (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $129.07.

Insider Transactions at NetApp

In related news, President Cesar Cernuda sold 19,696 shares of the business's stock in a transaction 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 transaction, the president now owns 11,928 shares of the company's stock, valued at approximately $1,075,309.20. The trade was a 62.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anders Gustafsson purchased 2,800 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was bought at an average price of $91.00 per share, for a total transaction of $254,800.00. Following the completion of the transaction, the director now directly owns 6,348 shares in the company, valued at approximately $577,668. The trade was a 78.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 50,627 shares of company stock worth $5,498,573. Company insiders own 0.47% of the company's stock.

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.