NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 14.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,024,456 shares of the data storage provider's stock after buying an additional 888,671 shares during the quarter. Ameriprise Financial Inc. owned approximately 3.46% of NetApp worth $815,402,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of NetApp by 31.4% during the third quarter. Barclays PLC now owns 784,339 shares of the data storage provider's stock worth $96,873,000 after buying an additional 187,638 shares during the period. World Investment Advisors LLC increased its holdings in NetApp by 6.1% in the third quarter. World Investment Advisors LLC now owns 7,998 shares of the data storage provider's stock valued at $988,000 after buying an additional 459 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in NetApp during the third quarter worth approximately $160,000. Franklin Resources Inc. grew its stake in NetApp by 19.6% in the 3rd quarter. Franklin Resources Inc. now owns 433,616 shares of the data storage provider's stock valued at $55,009,000 after acquiring an additional 71,165 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in NetApp by 0.5% in the 3rd quarter. Principal Financial Group Inc. now owns 282,467 shares of the data storage provider's stock worth $34,888,000 after acquiring an additional 1,271 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Stock Down 1.0 %

Shares of NTAP traded down $0.92 during mid-day trading on Friday, reaching $93.52. The company's stock had a trading volume of 600,712 shares, compared to its average volume of 2,091,674. The stock has a market cap of $19.02 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. 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, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The company's 50 day moving average is $88.12 and its 200 day moving average is $109.34.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Friday, April 4th. NetApp's dividend payout ratio (DPR) is 38.52%.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O'callahan sold 452 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $120.75, for a total transaction of $54,579.00. Following the completion of the sale, the executive vice president now directly owns 11,553 shares of the company's stock, valued at $1,395,024.75. This represents a 3.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Cesar Cernuda sold 19,696 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $90.15, for a total value of $1,775,594.40. Following the sale, the president now directly owns 11,928 shares of the company's stock, valued at $1,075,309.20. The trade was a 62.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,676 shares of company stock worth $3,586,451. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on NTAP. Evercore ISI reduced their target price on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a report on Monday, April 28th. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a research note on Wednesday, February 19th. Susquehanna cut NetApp from a "positive" rating to a "neutral" rating and lowered their price target for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Finally, Barclays raised NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 price objective for the company in a research report on Wednesday, April 30th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $123.07.

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.