Unigestion Holding SA Raises Holdings in NetApp, Inc. (NASDAQ:NTAP)

Unigestion Holding SA lifted its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 7.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 303,556 shares of the data storage provider's stock after buying an additional 19,882 shares during the quarter. NetApp makes up about 2.0% of Unigestion Holding SA's investment portfolio, making the stock its 12th largest position. Unigestion Holding SA owned about 0.15% of NetApp worth $35,216,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of NetApp by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock valued at $3,069,617,000 after purchasing an additional 429,343 shares during the last quarter. State Street Corp boosted its stake in NetApp by 2.0% during the third quarter. State Street Corp now owns 10,261,170 shares of the data storage provider's stock valued at $1,267,357,000 after buying an additional 199,384 shares during the last quarter. Geode Capital Management LLC grew 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 valued at $738,280,000 after buying an additional 453,324 shares in the last quarter. Beutel Goodman & Co Ltd. increased its stake in NetApp by 0.4% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider's stock worth $335,215,000 after acquiring an additional 12,919 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of NetApp during the 4th quarter worth approximately $306,440,000. Institutional investors own 92.17% of the company's stock.

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NetApp Trading Up 0.6 %

Shares of NTAP traded up $0.46 during trading hours on Friday, reaching $82.74. 841,208 shares of the company traded hands, compared to its average volume of 1,905,055. The stock's fifty day moving average price is $101.04 and its 200 day moving average price is $114.46. 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 has a market cap of $16.83 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.45 and a beta of 1.31. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders 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 2.51%. NetApp's dividend payout ratio is currently 38.52%.

Insider Transactions at NetApp

In other news, Director Anders Gustafsson bought 2,800 shares of the stock in a transaction on Thursday, March 27th. The stock was acquired at an average cost of $91.00 per share, for a total transaction of $254,800.00. Following the acquisition, the director now owns 6,348 shares of the company's stock, valued at $577,668. This represents a 78.92 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Cesar Cernuda sold 19,696 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $90.15, for a total value of $1,775,594.40. Following the transaction, the president now directly owns 11,928 shares in the company, valued at $1,075,309.20. The trade was a 62.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,176 shares of company stock valued at $5,445,901. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NTAP. JPMorgan Chase & Co. cut their target price on shares of NetApp from $160.00 to $153.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Wells Fargo & Company reduced their target price 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. Loop Capital lowered their price target on shares of NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Morgan Stanley upped their price objective on NetApp from $132.00 to $146.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. Finally, TD Cowen lowered their price objective on NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, February 28th. 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, the company currently has a consensus rating of "Hold" and an average price target of $129.07.

NetApp Company 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.