NetApp, Inc. $NTAP Shares Acquired by Amundi

Key Points

• Amundi increased its stake in NetApp, Inc. by 11.8%, owning a total of 2,179,710 shares worth approximately $183 million after acquiring additional shares in the first quarter.
• Several large investors, including Horizon Investments and Migdal Insurance, have also increased their holdings in NetApp, contributing to institutional investors owning 92.17% of the company's stock.
• NetApp's stock has recently shown strong performance, reaching a price of $118.83, and the company declared a quarterly dividend of $0.52 per share, reflecting a yield of 1.8%.

Amundi lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,179,710 shares of the data storage provider's stock after acquiring an additional 230,793 shares during the quarter. Amundi owned 1.07% of NetApp worth $183,209,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its position in shares of NetApp by 39.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider's stock valued at $3,250,000 after buying an additional 10,494 shares in the last quarter. Achmea Investment Management B.V. lifted its holdings in NetApp by 55.8% during the first quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider's stock valued at $19,492,000 after purchasing an additional 79,457 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new stake in shares of NetApp in the first quarter valued at about $321,000. UNICOM Systems Inc. purchased a new stake in shares of NetApp during the first quarter worth about $13,483,000. Finally, Hennessy Advisors Inc. acquired a new stake in NetApp in the 1st quarter worth about $2,050,000. Institutional investors and hedge funds own 92.17% of the company's stock.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $108.85, for a total value of $925,225.00. Following the sale, the chief executive officer owned 283,688 shares of the company's stock, valued at $30,879,438.80. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $105.90, for a total value of $105,900.00. Following the transaction, the executive vice president owned 23,251 shares of the company's stock, valued at approximately $2,462,280.90. This represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,500 shares of company stock valued at $2,921,775 in the last quarter. 0.28% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on NTAP. Wedbush reissued a "neutral" rating and issued a $150.00 price objective on shares of NetApp in a research note on Thursday, August 28th. Citigroup raised their price target 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. Barclays upped their price objective on shares of NetApp from $117.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Northland Securities boosted their target price on NetApp from $119.00 to $120.00 and gave the stock a "market perform" rating in a report on Thursday, August 28th. Finally, JPMorgan Chase & Co. lifted their price objective on NetApp from $115.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, NetApp has an average rating of "Hold" and a consensus target price of $124.07.

NetApp Trading Up 1.6%

NASDAQ NTAP traded up $1.95 during trading hours on Tuesday, reaching $123.12. The company had a trading volume of 1,979,650 shares, compared to its average volume of 2,057,513. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $24.58 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 2.58 and a beta of 1.46. The stock has a 50-day moving average of $108.19 and a 200 day moving average of $99.75. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45.

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 given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. NetApp's dividend payout ratio (DPR) is presently 36.75%.

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.