NetApp, Inc. (NASDAQ:NTAP) is Andra AP fonden's 3rd Largest Position

Andra AP fonden increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 16.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 679,900 shares of the data storage provider's stock after purchasing an additional 97,000 shares during the period. NetApp accounts for about 1.3% of Andra AP fonden's holdings, making the stock its 3rd biggest position. Andra AP fonden owned about 0.33% of NetApp worth $78,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the stock. Resonant Capital Advisors LLC raised its holdings in NetApp by 1.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock valued at $516,000 after acquiring an additional 80 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in 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 acquiring an additional 100 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in NetApp by 2.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock valued at $534,000 after acquiring an additional 111 shares during the last quarter. Wealthspire Advisors LLC raised its holdings in NetApp by 4.1% in the 4th quarter. Wealthspire Advisors LLC now owns 3,132 shares of the data storage provider's stock valued at $364,000 after acquiring an additional 123 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in NetApp by 2.0% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,448 shares of the data storage provider's stock valued at $796,000 after acquiring an additional 128 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research analysts have weighed in on NTAP shares. Morgan Stanley boosted their price target on NetApp from $132.00 to $146.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. Barclays lowered their price objective on shares of NetApp from $132.00 to $115.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Northland Securities boosted their price objective on shares of NetApp from $108.00 to $120.00 and gave the company a "market perform" rating in a research note on Friday, November 22nd. Loop Capital lowered their price objective on shares of NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Stifel Nicolaus boosted their price objective on shares of NetApp from $140.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, NetApp has an average rating of "Hold" and a consensus target price of $129.07.

Insider Activity

In other news, EVP Elizabeth M. O'callahan sold 451 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the completion of the transaction, the executive vice president now directly owns 12,005 shares in the company, valued at $1,402,063.95. This trade represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Cesar Cernuda sold 22,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares of the company's stock, valued at $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,903 shares of company stock worth $7,260,341 over the last three months. Corporate insiders own 0.47% of the company's stock.

NetApp Stock Performance

Shares of NASDAQ:NTAP traded up $1.91 during trading hours on Friday, hitting $93.77. The stock had a trading volume of 2,480,918 shares, compared to its average volume of 1,856,425. The stock's fifty day simple moving average is $117.43 and its 200 day simple moving average is $120.56. NetApp, Inc. has a 1-year low of $91.16 and a 1-year high of $135.45. The firm has a market capitalization of $19.07 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

NetApp Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, April 4th. NetApp's dividend payout ratio (DPR) is presently 38.52%.

About NetApp

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.