NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Schroder Investment Management Group

Schroder Investment Management Group boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 28.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 940,475 shares of the data storage provider's stock after acquiring an additional 210,746 shares during the period. Schroder Investment Management Group owned about 0.46% of NetApp worth $109,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. FMR LLC grew its position in shares of NetApp by 2.1% in the 3rd quarter. FMR LLC now owns 267,785 shares of the data storage provider's stock worth $33,074,000 after buying an additional 5,636 shares during the last quarter. Townsquare Capital LLC boosted its stake in NetApp by 66.5% in the third quarter. Townsquare Capital LLC now owns 5,989 shares of the data storage provider's stock valued at $740,000 after acquiring an additional 2,392 shares in the last quarter. Freedom Investment Management Inc. purchased a new position in NetApp in the third quarter worth $205,000. Public Sector Pension Investment Board increased its position in shares of NetApp by 12.7% during the third quarter. Public Sector Pension Investment Board now owns 8,897 shares of the data storage provider's stock worth $1,099,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of NetApp by 124.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 42,064 shares of the data storage provider's stock valued at $5,194,000 after purchasing an additional 23,305 shares during the last quarter. Institutional investors own 92.17% of the company's stock.

Remove Ads

Insiders Place Their Bets

In related news, President Cesar Cernuda sold 19,696 shares of the company's stock in a transaction dated 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 transaction, the president now owns 11,928 shares in the company, valued at $1,075,309.20. This represents a 62.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth M. O'callahan sold 451 shares of NetApp stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $116.79, for a total value of $52,672.29. Following the completion of the sale, the executive vice president now owns 12,005 shares in the company, valued at approximately $1,402,063.95. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,627 shares of company stock worth $5,498,573. Company insiders own 0.47% of the company's stock.

NetApp Price Performance

NASDAQ NTAP traded down $7.95 during trading hours on Thursday, reaching $82.54. The company's stock had a trading volume of 1,729,261 shares, compared to its average volume of 1,861,171. The firm has a market capitalization of $16.79 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 2.45 and a beta of 1.31. The company's 50-day moving average is $107.74 and its two-hundred day moving average is $116.68. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp, Inc. has a 1-year low of $81.89 and a 1-year high of $135.45.

NetApp Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NTAP shares. Citigroup reduced their target price on NetApp from $135.00 to $110.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Loop Capital cut their price target on shares of NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. StockNews.com lowered shares of NetApp from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Keefe, Bruyette & Woods upgraded NetApp to an "outperform" rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley boosted their price target on NetApp from $132.00 to $146.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 17th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $129.07.

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.