IFM Investors Pty Ltd Has $5.61 Million Holdings in NetApp, Inc. $NTAP

Key Points

• IFM Investors Pty Ltd increased its stake in NetApp, Inc. by 4.8%, acquiring an additional 2,387 shares, bringing their total holdings to 52,632 shares valued at approximately $5.6 million.
• Insider transactions showed CEO George Kurian sold 8,750 shares at an average price of $122.91, a 3.08% reduction in his position, while insiders collectively sold 28,750 shares, valued at $3.26 million, over the last quarter.
• Analysts have varying price targets for NetApp, with the average target at $124.07; seven analysts rated it as "Buy" and ten as "Hold."

IFM Investors Pty Ltd boosted its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,632 shares of the data storage provider's stock after buying an additional 2,387 shares during the period. IFM Investors Pty Ltd's holdings in NetApp were worth $5,608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of NTAP. 1248 Management LLC acquired a new stake in shares of NetApp during the 1st quarter worth approximately $25,000. Manchester Capital Management LLC lifted its holdings in NetApp by 375.0% during the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock valued at $25,000 after purchasing an additional 225 shares in the last quarter. Park Square Financial Group LLC purchased a new position in NetApp in the 4th quarter valued at about $36,000. Olde Wealth Management LLC acquired a new stake in NetApp in the 1st quarter worth about $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in NetApp by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider's stock worth $31,000 after buying an additional 124 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Price Performance

Shares of NTAP stock traded down $0.55 during trading hours on Monday, hitting $124.61. The company's stock had a trading volume of 1,512,708 shares, compared to its average volume of 2,517,637. The business has a fifty day moving average of $111.36 and a 200-day moving average of $100.82. 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 cap of $24.87 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 2.73 and a beta of 1.46. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45.

NetApp Announces Dividend

The company also recently declared 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 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp's dividend payout ratio (DPR) is presently 36.75%.

Insider Buying and Selling

In other news, CEO George Kurian sold 8,750 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the transaction, the chief executive officer directly owned 274,938 shares in the company, valued at approximately $33,792,629.58. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total value of $123,670.00. Following the sale, the executive vice president directly owned 23,628 shares in the company, valued at $2,922,074.76. The trade was a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,750 shares of company stock valued at $3,255,778 in the last three months. Corporate insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NTAP shares. Northland Securities boosted their price target on shares of NetApp from $119.00 to $120.00 and gave the company a "market perform" rating in a research report on Thursday, August 28th. Citigroup lifted their price target on shares of NetApp from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. Barclays lifted their target price on NetApp from $117.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Wedbush reiterated a "neutral" rating and set a $150.00 price target on shares of NetApp in a report on Thursday, August 28th. Finally, Morgan Stanley set a $117.00 price objective on shares of NetApp in a report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $124.07.

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.