Vinva Investment Management Ltd Purchases 26,105 Shares of NetApp, Inc. (NASDAQ:NTAP)

Vinva Investment Management Ltd grew its position in NetApp, Inc. (NASDAQ:NTAP) by 14.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 210,769 shares of the data storage provider’s stock after acquiring an additional 26,105 shares during the period. NetApp accounts for approximately 1.0% of Vinva Investment Management Ltd’s investment portfolio, making the stock its 12th biggest position. Vinva Investment Management Ltd’s holdings in NetApp were worth $24,628,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of NetApp in the 4th quarter valued at $26,000. Assetmark Inc. raised its position in NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 215 shares during the last quarter. Synergy Investment Management LLC bought a new position in NetApp during the 4th quarter worth $32,000. Golden State Wealth Management LLC bought a new position in NetApp during the 4th quarter worth $35,000. Finally, OFI Invest Asset Management bought a new position in NetApp during the 4th quarter worth $39,000. 92.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NetApp

In other news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total value of $1,011,840.00. Following the transaction, the chief executive officer now owns 266,765 shares in the company, valued at $31,755,705.60. The trade was a 3.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 528 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 12,900 shares in the company, valued at $1,194,282. The trade was a 3.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,931 shares of company stock worth $6,252,759. Insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NTAP shares. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. TD Cowen lowered their target price on NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company lowered their target price 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. Susquehanna lowered NetApp from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. Finally, Barclays lowered their price objective on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $129.07.

NetApp Price Performance

NTAP stock opened at $92.26 on Wednesday. The company has a market capitalization of $18.77 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. NetApp, Inc. has a 52-week low of $89.88 and a 52-week high of $135.45. The business has a 50-day simple moving average of $113.94 and a two-hundred day simple moving average of $118.63.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.25%. NetApp’s dividend payout ratio (DPR) is currently 38.52%.

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.