NetApp, Inc. (NASDAQ:NTAP) is Andra AP fonden’s 3rd Largest Position

Andra AP fonden boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 16.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 679,900 shares of the data storage provider’s stock after acquiring an additional 97,000 shares during the quarter. NetApp comprises 1.3% of Andra AP fonden’s portfolio, making the stock its 3rd biggest holding. Andra AP fonden’s holdings in NetApp were worth $78,923,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Farther Finance Advisors LLC raised its position in NetApp by 25.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 796 shares of the data storage provider’s stock valued at $98,000 after purchasing an additional 164 shares in the last quarter. Janney Montgomery Scott LLC raised its position in NetApp by 111.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 12,673 shares of the data storage provider’s stock valued at $1,565,000 after purchasing an additional 6,666 shares in the last quarter. Van ECK Associates Corp raised its position in NetApp by 10.5% during the 3rd quarter. Van ECK Associates Corp now owns 45,402 shares of the data storage provider’s stock valued at $5,403,000 after purchasing an additional 4,303 shares in the last quarter. Amalgamated Bank raised its position in NetApp by 0.8% during the 3rd quarter. Amalgamated Bank now owns 43,413 shares of the data storage provider’s stock valued at $5,362,000 after purchasing an additional 340 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in NetApp by 0.5% during the 3rd quarter. Principal Financial Group Inc. now owns 282,467 shares of the data storage provider’s stock valued at $34,888,000 after purchasing an additional 1,271 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Trading Down 3.2 %

Shares of NASDAQ:NTAP opened at $91.86 on Friday. The business’s 50-day moving average is $117.89 and its 200 day moving average is $120.89. NetApp, Inc. has a 1 year low of $91.19 and a 1 year high of $135.45. The firm has a market capitalization of $18.69 billion, a P/E ratio of 16.89, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.26%. The ex-dividend date is Friday, April 4th. NetApp’s dividend payout ratio is currently 38.52%.

Analysts Set New Price Targets

A number of brokerages have weighed in on NTAP. Stifel Nicolaus lifted their target price on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Citigroup decreased their target price on NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday. Oppenheimer began coverage on NetApp in a research report on Wednesday, November 13th. They set a “market perform” rating for the company. Wedbush reissued a “neutral” rating and issued a $110.00 price target (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Finally, Wells Fargo & Company reduced their price target on NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $129.07.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the sale, the chief executive officer now owns 279,782 shares in the company, valued at approximately $34,774,104.78. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the sale, the president now owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,903 shares of company stock valued at $7,260,341 in the last ninety days. Corporate insiders own 0.47% of the company’s stock.

NetApp 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.