Amundi Increases Stake in NetApp, Inc. (NASDAQ:NTAP)

Amundi grew its position in NetApp, Inc. (NASDAQ:NTAP) by 25.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,948,917 shares of the data storage provider’s stock after purchasing an additional 397,871 shares during the period. Amundi’s holdings in NetApp were worth $228,492,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in NetApp in the 4th quarter worth about $26,000. Assetmark Inc. increased its stake in NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after buying an additional 215 shares during the period. Synergy Investment Management LLC purchased a new position in NetApp during the 4th quarter valued at about $32,000. Golden State Wealth Management LLC purchased a new position in NetApp during the 4th quarter valued at about $35,000. Finally, True Wealth Design LLC increased its position in NetApp by 2,833.3% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock valued at $43,000 after purchasing an additional 340 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NTAP shares. TD Cowen cut their target price on shares of NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Morgan Stanley lifted their price objective on shares of NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Barclays decreased their price objective on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Loop Capital decreased their price objective on shares of NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Finally, Oppenheimer initiated coverage on shares of NetApp in a research note on Wednesday, November 13th. They set a “market perform” rating for the company. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $129.07.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 451 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the sale, the executive vice president now owns 12,005 shares of the company’s stock, valued at approximately $1,402,063.95. This represents a 3.62 % decrease in their ownership of the stock. The sale 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 stock in a transaction dated 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 sale, the president now directly owns 27,099 shares in the company, valued at $3,116,114.01. This represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,903 shares of company stock valued at $7,260,341. 0.47% of the stock is currently owned by corporate insiders.

NetApp Trading Up 2.1 %

NASDAQ NTAP opened at $93.77 on Monday. The firm’s 50-day moving average is $117.43 and its two-hundred day moving average is $120.47. NetApp, Inc. has a 12 month low of $91.16 and a 12 month high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The stock has a market capitalization of $19.07 billion, a P/E ratio of 17.24, a PEG ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.22%. NetApp’s dividend payout ratio is presently 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.