Vinva Investment Management Ltd Raises Position in NetApp, Inc. (NASDAQ:NTAP)

Vinva Investment Management Ltd lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 14.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,769 shares of the data storage provider's stock after acquiring an additional 26,105 shares during the quarter. NetApp makes up approximately 1.0% of Vinva Investment Management Ltd's portfolio, making the stock its 12th biggest position. Vinva Investment Management Ltd owned 0.10% of NetApp worth $24,628,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Resonant Capital Advisors LLC grew its stake in shares of 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 buying an additional 80 shares during the period. Larson Financial Group LLC grew its stake in shares of NetApp by 2.5% in the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after buying an additional 92 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of 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 buying an additional 100 shares during the period. Moors & Cabot Inc. grew its stake in shares of NetApp by 3.6% in the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock valued at $337,000 after buying an additional 100 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of 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 buying an additional 111 shares during the period. Institutional investors and hedge funds own 92.17% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup cut their price target on NetApp from $135.00 to $110.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company cut their price target on NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Barclays cut their price target on NetApp from $132.00 to $115.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. StockNews.com downgraded NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Morgan Stanley lifted 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $129.07.

Insider Buying and Selling

In other NetApp news, CFO Michael J. Berry sold 12,500 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the sale, the chief financial officer now owns 123,243 shares of the company's stock, valued at $14,880,359.82. The trade was a 9.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O'callahan sold 528 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $92.58, for a total value of $48,882.24. Following the sale, the executive vice president now owns 12,900 shares in the company, valued at approximately $1,194,282. This represents a 3.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,931 shares of company stock valued at $6,252,759. 0.47% of the stock is owned by company insiders.

NetApp Stock Performance

Shares of NASDAQ:NTAP traded up $0.15 during mid-day trading on Friday, reaching $92.25. The company had a trading volume of 5,416,936 shares, compared to its average volume of 1,746,932. 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 $18.76 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 2.45 and a beta of 1.24. The company's 50-day moving average price is $112.44 and its 200-day moving average price is $118.07. NetApp, Inc. has a one year low of $89.88 and a one 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 issued 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 dividend yield of 2.25%. NetApp's dividend payout ratio (DPR) is presently 38.52%.

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.