Asset Management One Co. Ltd. Has $10.20 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Asset Management One Co. Ltd. reduced its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 116,116 shares of the data storage provider's stock after selling 7,535 shares during the quarter. Asset Management One Co. Ltd. owned about 0.06% of NetApp worth $10,200,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Larson Financial Group LLC grew its position in shares of NetApp by 2.5% in the fourth quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after purchasing an additional 92 shares during the last quarter. Moors & Cabot Inc. grew its position in shares of NetApp by 3.6% in the fourth quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock valued at $337,000 after purchasing an additional 100 shares during the last quarter. Coppell Advisory Solutions LLC grew its position in shares of NetApp by 50.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after purchasing an additional 100 shares during the last quarter. Utah Retirement Systems lifted its stake in shares of NetApp by 0.3% in the fourth quarter. Utah Retirement Systems now owns 34,152 shares of the data storage provider's stock valued at $3,964,000 after buying an additional 100 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of NetApp by 2.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock valued at $534,000 after buying an additional 111 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Price Performance

NTAP traded up $0.97 during midday trading on Friday, reaching $105.72. 2,973,964 shares of the company's stock were exchanged, compared to its average volume of 1,932,449. The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 2.42 and a beta of 1.42. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 2.39. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The business has a 50-day simple moving average of $97.61 and a two-hundred day simple moving average of $104.40.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. NetApp had a net margin of 18.05% and a return on equity of 126.96%. The company's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $1.80 earnings per share. As a group, research analysts predict that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, July 3rd. NetApp's payout ratio is 36.62%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NTAP shares. Loop Capital reduced their target price 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. Wells Fargo & Company reduced their target price on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. Barclays increased their target price on shares of NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Citigroup increased their target price on shares of NetApp from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Monday, June 2nd. Finally, TD Cowen reduced their target price on shares of NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, NetApp has a consensus rating of "Hold" and an average target price of $117.79.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $81.83, for a total transaction of $695,555.00. Following the completion of the sale, the chief executive officer now owns 249,765 shares of the company's stock, valued at approximately $20,438,269.95. This trade represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 302 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $98.77, for a total transaction of $29,828.54. Following the sale, the chief accounting officer now directly owns 455 shares of the company's stock, valued at approximately $44,940.35. The trade was a 39.89% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,302 shares of company stock valued at $1,590,514. Corporate insiders own 0.47% of the company's stock.

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.