Mitsubishi UFJ Trust & Banking Corp Increases Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Mitsubishi UFJ Trust & Banking Corp boosted its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 543,091 shares of the data storage provider's stock after acquiring an additional 19,591 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.27% of NetApp worth $63,042,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners lifted its stake 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 buying an additional 729,394 shares in the last quarter. KBC Group NV lifted its position in NetApp by 276.9% in the 4th quarter. KBC Group NV now owns 891,033 shares of the data storage provider's stock valued at $103,431,000 after acquiring an additional 654,626 shares in the last quarter. Raymond James Financial Inc. acquired a new position in NetApp during the 4th quarter valued at about $64,683,000. Geode Capital Management LLC increased its holdings in NetApp by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider's stock worth $738,280,000 after purchasing an additional 453,324 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of NetApp by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock worth $3,069,617,000 after purchasing an additional 429,343 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on NetApp from $160.00 to $153.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Keefe, Bruyette & Woods upgraded shares of NetApp to an "outperform" rating in a report on Wednesday, February 19th. Wells Fargo & Company cut their price target on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. StockNews.com lowered shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Morgan Stanley boosted their target price on NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, NetApp currently has a consensus rating of "Hold" and an average price target of $129.07.

NetApp Stock Performance

Shares of NTAP stock traded down $2.69 during trading on Friday, reaching $88.40. 2,662,211 shares of the company's stock traded hands, compared to its average volume of 1,848,948. NetApp, Inc. has a 1 year low of $88.14 and a 1 year high of $135.45. The company has a market capitalization of $17.98 billion, a P/E ratio of 16.25, a PEG 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 firm's 50-day moving average is $109.82 and its 200 day moving average is $117.25.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, April 4th. NetApp's payout ratio is currently 38.52%.

Insider Activity

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