Mirae Asset Global Investments Co. Ltd. Has $5.75 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 39.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,277 shares of the data storage provider’s stock after purchasing an additional 13,923 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in NetApp were worth $5,749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NTAP. Retirement Systems of Alabama lifted its holdings in shares of NetApp by 546.8% during the 4th quarter. Retirement Systems of Alabama now owns 289,504 shares of the data storage provider’s stock valued at $33,606,000 after buying an additional 244,746 shares during the last quarter. Resonant Capital Advisors LLC lifted its stake in NetApp by 1.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock valued at $516,000 after acquiring an additional 80 shares during the last quarter. HHM Wealth Advisors LLC grew its position in NetApp by 20.8% in the fourth quarter. HHM Wealth Advisors LLC now owns 948 shares of the data storage provider’s stock worth $110,000 after acquiring an additional 163 shares in the last quarter. McAdam LLC increased its stake in shares of NetApp by 5.4% during the 4th quarter. McAdam LLC now owns 2,655 shares of the data storage provider’s stock worth $308,000 after purchasing an additional 137 shares during the last quarter. Finally, Spire Wealth Management raised its holdings in shares of NetApp by 13.6% during the 4th quarter. Spire Wealth Management now owns 1,674 shares of the data storage provider’s stock valued at $194,000 after purchasing an additional 201 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 $122.91 on Friday. The business’s 50 day moving average is $120.98 and its 200-day moving average is $122.15. 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 capitalization of $24.99 billion, a PE ratio of 22.59, a PEG ratio of 2.90 and a beta of 1.23. NetApp, Inc. has a 1-year low of $83.80 and a 1-year high of $135.45.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 earnings per share. Sell-side analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Friday, January 3rd. NetApp’s dividend payout ratio is currently 38.24%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wells Fargo & Company upped 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 upped their target price on NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised shares of NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 price target on the stock in a research report on Monday, December 16th. Citigroup upped their price objective on shares of NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Morgan Stanley lifted their target price 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $139.20.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $124.29, for a total value of $1,056,465.00. Following the transaction, the chief executive officer now owns 279,782 shares of the company’s stock, valued at approximately $34,774,104.78. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael J. Berry sold 12,500 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 123,243 shares of the company’s stock, valued at approximately $14,880,359.82. This trade represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,110 shares of company stock worth $7,632,601 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.

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.