Tokio Marine Asset Management Co. Ltd. Purchases 128 Shares of NetApp, Inc. (NASDAQ:NTAP)

Tokio Marine Asset Management Co. Ltd. increased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,448 shares of the data storage provider’s stock after purchasing an additional 128 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in NetApp were worth $796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC raised its holdings in NetApp by 17.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock worth $359,517,000 after purchasing an additional 416,233 shares in the last quarter. Legal & General Group Plc increased its position in shares of NetApp by 3.5% during the second quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock valued at $309,811,000 after buying an additional 82,378 shares during the period. Epoch Investment Partners Inc. raised its stake in NetApp by 11.9% in the first quarter. Epoch Investment Partners Inc. now owns 1,982,787 shares of the data storage provider’s stock worth $208,133,000 after buying an additional 211,204 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in NetApp by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,737,578 shares of the data storage provider’s stock worth $223,806,000 after buying an additional 196,952 shares during the period. Finally, AQR Capital Management LLC boosted its position in NetApp by 59.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock valued at $211,637,000 after acquiring an additional 613,583 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $117.21 on Friday. The firm’s 50 day simple moving average is $121.11 and its two-hundred day simple moving average is $121.72. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. The company has a market capitalization of $24.00 billion, a P/E ratio of 22.89, a P/E/G ratio of 4.49 and a beta of 1.24. NetApp, Inc. has a 1-year low of $76.41 and a 1-year high of $135.01.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. Research analysts expect that NetApp, Inc. will post 5.71 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Friday, October 4th. NetApp’s payout ratio is presently 40.63%.

Wall Street Analyst Weigh In

NTAP has been the subject of several recent research reports. Barclays raised their price objective on NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. Evercore ISI boosted their price objective on shares of NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Wedbush reiterated a “neutral” rating and set a $120.00 target price on shares of NetApp in a report on Monday, August 26th. Finally, Citigroup upped their price target on NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, NetApp presently has an average rating of “Hold” and an average target price of $129.06.

Insider Buying and Selling at NetApp

In other news, CAO Lorenzo Daniel De sold 1,685 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total value of $208,266.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $126.11, for a total value of $1,071,935.00. Following the transaction, the chief executive officer now directly owns 292,778 shares in the company, valued at approximately $36,922,233.58. This represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,890 shares of company stock worth $1,369,172 in the last quarter. 0.47% of the stock is owned by corporate insiders.

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.