E. Ohman J or Asset Management AB Buys 2,883 Shares of NetApp, Inc. (NASDAQ:NTAP)

E. Ohman J or Asset Management AB grew its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 51.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,483 shares of the data storage provider's stock after purchasing an additional 2,883 shares during the quarter. E. Ohman J or Asset Management AB's holdings in NetApp were worth $745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in NetApp during the fourth quarter worth about $26,000. Assetmark Inc. raised its stake in NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after buying an additional 215 shares during the period. Synergy Investment Management LLC acquired a new stake in shares of NetApp in the fourth quarter valued at approximately $32,000. Itau Unibanco Holding S.A. boosted its stake in shares of NetApp by 929.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after acquiring an additional 251 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in shares of NetApp during the 4th quarter worth approximately $35,000. Institutional investors own 92.17% of the company's stock.

Analyst Ratings Changes

NTAP has been the subject of several research reports. Susquehanna downgraded NetApp from a "positive" rating to a "neutral" rating and cut their price target for the company from $155.00 to $130.00 in a report on Monday, February 10th. Wedbush reissued a "neutral" rating and issued a $110.00 price objective on shares of NetApp in a research report on Friday, May 30th. UBS Group cut their target price on shares of NetApp from $115.00 to $108.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Citigroup upped their price target 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, Wall Street Zen downgraded shares of NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $117.79.

NetApp Trading Up 1.6%

Shares of NASDAQ:NTAP opened at $106.25 on Friday. The business's 50 day simple moving average is $91.54 and its 200 day simple moving average is $106.44. NetApp, Inc. has a 1 year low of $71.84 and a 1 year 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 company has a market capitalization of $21.61 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.45 and a beta of 1.42.

NetApp (NASDAQ:NTAP - Get Free Report) last released its earnings results on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the firm posted $1.80 EPS. NetApp's quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.96%. NetApp's dividend payout ratio is 36.62%.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 302 shares of the company's stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 455 shares in the company, valued at $44,940.35. This represents a 39.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the completion of the transaction, the chief executive officer now owns 249,765 shares in the company, valued at approximately $20,438,269.95. This represents a 3.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,026 shares of company stock valued at $2,549,860 over the last three months. 0.47% of the stock is owned by insiders.

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.

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