Robeco Institutional Asset Management B.V. Raises Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Robeco Institutional Asset Management B.V. increased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,346,212 shares of the data storage provider’s stock after acquiring an additional 113,360 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.66% of NetApp worth $156,268,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP increased its holdings in NetApp by 11.7% in the second quarter. Quarry LP now owns 876 shares of the data storage provider’s stock valued at $113,000 after buying an additional 92 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock worth $64,000 after acquiring an additional 100 shares in the last quarter. OLD National Bancorp IN increased its holdings in shares of NetApp by 3.5% in the 3rd quarter. OLD National Bancorp IN now owns 3,492 shares of the data storage provider’s stock valued at $431,000 after acquiring an additional 118 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of NetApp by 4.5% in the 3rd quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider’s stock valued at $340,000 after acquiring an additional 118 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its position in shares of NetApp by 2.4% during the 3rd quarter. V Square Quantitative Management LLC now owns 5,108 shares of the data storage provider’s stock worth $631,000 after acquiring an additional 120 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Trading Down 0.3 %

NASDAQ NTAP opened at $119.53 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $24.30 billion, a P/E ratio of 21.97, a P/E/G ratio of 2.99 and a beta of 1.23. NetApp, Inc. has a 52-week low of $83.80 and a 52-week high of $135.45. The firm has a 50-day moving average price of $121.42 and a 200 day moving average price of $122.46.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the business posted $1.23 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts expect that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Friday, January 3rd. NetApp’s dividend payout ratio is currently 38.24%.

Analyst Ratings Changes

NTAP has been the subject of several research analyst reports. Stifel Nicolaus upped their target price on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Wells Fargo & Company raised their price target on NetApp from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. TD Cowen boosted their price objective on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Bank of America raised their target price on shares of NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley increased their price target on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $139.20.

Insiders Place Their Bets

In related news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction on Monday, December 30th. The stock was 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 directly owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 326 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $117.44, for a total value of $38,285.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,610 shares of company stock worth $6,123,351. 0.47% of the stock is owned by company insiders.

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.