MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,177 shares of the data storage provider's stock after acquiring an additional 5,279 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in NetApp were worth $5,708,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. MJP Associates Inc. ADV bought a new position in shares of NetApp in the fourth quarter valued at approximately $480,000. Moore Capital Management LP bought a new position in shares of NetApp in the fourth quarter valued at approximately $6,384,000. Lazard Asset Management LLC grew its holdings in shares of NetApp by 29.6% in the fourth quarter. Lazard Asset Management LLC now owns 209,295 shares of the data storage provider's stock valued at $24,294,000 after acquiring an additional 47,857 shares in the last quarter. Gotham Asset Management LLC grew its holdings in shares of NetApp by 21.1% in the fourth quarter. Gotham Asset Management LLC now owns 200,421 shares of the data storage provider's stock valued at $23,265,000 after acquiring an additional 34,927 shares in the last quarter. Finally, Ethic Inc. grew its holdings in NetApp by 11.5% during the fourth quarter. Ethic Inc. now owns 22,537 shares of the data storage provider's stock valued at $2,616,000 after purchasing an additional 2,330 shares during the period. 92.17% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NetApp news, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $81.83, for a total transaction of $695,555.00. Following the sale, the chief executive officer now owns 249,765 shares in the company, valued at $20,438,269.95. This trade represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elizabeth M. O'callahan sold 528 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $92.58, for a total value of $48,882.24. Following the sale, the executive vice president now owns 12,900 shares in the company, valued at $1,194,282. The trade was a 3.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,724 shares of company stock worth $2,520,032. Corporate insiders own 0.47% of the company's stock.

NetApp Stock Performance

Shares of NASDAQ:NTAP traded down $1.78 during trading on Friday, hitting $98.00. 2,840,412 shares of the company were exchanged, compared to its average volume of 1,923,547. The company has a market cap of $19.93 billion, a PE ratio of 18.01, a P/E/G ratio of 2.45 and a beta of 1.40. The stock has a 50 day moving average of $89.62 and a 200 day moving average of $107.80. NetApp, Inc. has a 52-week low of $71.84 and a 52-week 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.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were given a $0.52 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.12%. NetApp's dividend payout ratio (DPR) is presently 38.52%.

Analyst Ratings Changes

Several brokerages have weighed in on NTAP. Wells Fargo & Company reduced their price objective on NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Evercore ISI reduced their price objective on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a report on Monday, April 28th. TD Cowen reduced their price objective on NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 28th. Citigroup increased their price objective on NetApp from $90.00 to $105.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $121.40.

About NetApp

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.