Morton Capital Management LLC CA acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,128 shares of the data storage provider's stock, valued at approximately $227,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in NetApp by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider's stock valued at $2,375,363,000 after acquiring an additional 597,956 shares during the period. Ameriprise Financial Inc. increased its position in NetApp by 1.0% in the 1st quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider's stock valued at $623,383,000 after acquiring an additional 72,223 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in NetApp by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider's stock valued at $311,529,000 after acquiring an additional 560,218 shares during the period. Invesco Ltd. increased its position in NetApp by 12.3% in the 1st quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider's stock valued at $308,107,000 after acquiring an additional 384,362 shares during the period. Finally, Amundi increased its position in NetApp by 11.8% in the 1st quarter. Amundi now owns 2,179,710 shares of the data storage provider's stock valued at $183,209,000 after acquiring an additional 230,793 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.
NetApp Stock Down 2.0%
NetApp stock opened at $117.99 on Wednesday. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The firm has a market capitalization of $23.55 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 2.62 and a beta of 1.45. The firm's fifty day moving average price is $114.88 and its two-hundred day moving average price is $103.12. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55.
NetApp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, October 3rd. NetApp's dividend payout ratio (DPR) is 36.75%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. Barclays increased their price objective on shares of NetApp from $117.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Weiss Ratings reiterated a "hold (c+)" rating on shares of NetApp in a research report on Saturday, September 27th. Morgan Stanley set a $117.00 price objective on shares of NetApp in a research report on Thursday, August 28th. UBS Group increased their price objective on shares of NetApp from $108.00 to $114.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. Finally, Citigroup increased their target price on shares of NetApp from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, NetApp has a consensus rating of "Hold" and a consensus price target of $124.07.
Get Our Latest Analysis on NTAP
Insider Transactions at NetApp
In other news, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $105.90, for a total value of $105,900.00. Following the completion of the transaction, the executive vice president owned 23,251 shares in the company, valued at $2,462,280.90. This trade represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 779 shares of NetApp stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The disclosure for this sale can be found here. Insiders sold 29,529 shares of company stock worth $3,350,714 over the last quarter. Corporate insiders own 0.28% of the company's stock.
NetApp Profile
(
Free Report)
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.
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