Arizona State Retirement System Buys 494 Shares of NetApp, Inc. (NASDAQ:NTAP)

Arizona State Retirement System increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,456 shares of the data storage provider’s stock after acquiring an additional 494 shares during the quarter. Arizona State Retirement System’s holdings in NetApp were worth $6,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NTAP. KBC Group NV grew its position in NetApp by 276.9% during the 4th quarter. KBC Group NV now owns 891,033 shares of the data storage provider’s stock worth $103,431,000 after acquiring an additional 654,626 shares during the last quarter. Geode Capital Management LLC lifted its holdings in NetApp by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock worth $738,280,000 after buying an additional 453,324 shares during the period. Unigestion Holding SA lifted its holdings in NetApp by 926.1% in the 3rd quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider’s stock worth $35,022,000 after buying an additional 256,028 shares during the period. Retirement Systems of Alabama lifted its holdings in NetApp by 546.8% in the 4th quarter. Retirement Systems of Alabama now owns 289,504 shares of the data storage provider’s stock worth $33,606,000 after buying an additional 244,746 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in NetApp in the 3rd quarter worth approximately $27,721,000. 92.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Loop Capital dropped their price objective on NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a report on Wednesday, February 19th. TD Cowen dropped their price objective on NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, February 28th. Oppenheimer began coverage on NetApp in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. Finally, Bank of America upgraded NetApp from an “underperform” rating to a “neutral” rating and raised their target price for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $129.07.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 452 shares of NetApp stock in a transaction on Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the completion of the sale, the executive vice president now owns 11,553 shares of the company’s stock, valued at approximately $1,395,024.75. This trade represents a 3.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Kurian sold 8,500 shares of NetApp 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 completion of the sale, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,903 shares of company stock worth $7,260,341. 0.47% of the stock is owned by insiders.

NetApp Stock Up 2.1 %

Shares of NASDAQ:NTAP opened at $93.77 on Friday. The stock has a fifty day simple moving average of $117.43 and a two-hundred day simple moving average of $120.63. The stock has a market capitalization of $19.07 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 12-month low of $91.16 and a 12-month high of $135.45. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.

NetApp Dividend Announcement

The business also recently disclosed 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. This represents a $2.08 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Friday, April 4th. NetApp’s payout ratio is 38.52%.

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.