Skandinaviska Enskilda Banken AB publ Acquires 59,183 Shares of NetApp, Inc. (NASDAQ:NTAP)

Skandinaviska Enskilda Banken AB publ lifted its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 5.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,123,764 shares of the data storage provider's stock after purchasing an additional 59,183 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.55% of NetApp worth $130,823,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTAP. Achmea Investment Management B.V. lifted its holdings in NetApp by 1.7% in the 4th quarter. Achmea Investment Management B.V. now owns 142,450 shares of the data storage provider's stock valued at $16,536,000 after purchasing an additional 2,422 shares in the last quarter. Vestcor Inc raised its holdings in shares of NetApp by 8.2% in the fourth quarter. Vestcor Inc now owns 16,759 shares of the data storage provider's stock valued at $1,945,000 after buying an additional 1,271 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of NetApp by 44.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 475,860 shares of the data storage provider's stock valued at $55,238,000 after purchasing an additional 147,294 shares during the last quarter. Avantax Advisory Services Inc. raised its position in NetApp by 14.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,482 shares of the data storage provider's stock worth $404,000 after buying an additional 447 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in NetApp by 18.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the data storage provider's stock valued at $191,000 after acquiring an additional 255 shares during the period. Hedge funds and other institutional investors own 92.17% of the company's stock.

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Analysts Set New Price Targets

Several analysts have issued reports on NTAP shares. JPMorgan Chase & Co. reduced their price target on shares of NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company dropped their price objective on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Citigroup lowered their price objective on shares of NetApp from $135.00 to $110.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Morgan Stanley raised their price objective on shares of NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 17th. Finally, StockNews.com lowered NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $129.07.

Insider Buying and Selling at NetApp

In related news, CFO Michael J. Berry sold 12,500 shares of NetApp stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total value of $1,509,250.00. Following the transaction, the chief financial officer now owns 123,243 shares in the company, valued at $14,880,359.82. This trade represents a 9.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the business's stock in a transaction dated 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 in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,931 shares of company stock valued at $6,252,759. Corporate insiders own 0.47% of the company's stock.

NetApp Price Performance

NetApp stock traded up $1.30 during mid-day trading on Monday, reaching $93.28. The company had a trading volume of 2,073,734 shares, compared to its average volume of 1,721,857. The company has a market cap of $18.97 billion, a P/E ratio of 17.15, a P/E/G ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a fifty-two week low of $89.88 and a fifty-two week high of $135.45. The business has a fifty day simple moving average of $114.93 and a 200 day simple moving average of $119.02. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.

NetApp Dividend Announcement

The company 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 dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.23%. NetApp's dividend payout ratio is 38.52%.

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.