NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Achmea Investment Management B.V.

Achmea Investment Management B.V. boosted its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 55.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 221,907 shares of the data storage provider's stock after buying an additional 79,457 shares during the period. Achmea Investment Management B.V. owned 0.11% of NetApp worth $19,492,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. M&T Bank Corp lifted its holdings in NetApp by 4.8% in the 4th quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider's stock valued at $1,485,000 after acquiring an additional 581 shares during the last quarter. Versor Investments LP acquired a new stake in NetApp during the fourth quarter valued at approximately $395,000. AMJ Financial Wealth Management lifted its stake in NetApp by 120.7% during the fourth quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider's stock valued at $7,998,000 after purchasing an additional 37,684 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in NetApp by 39.6% during the first quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider's stock worth $3,250,000 after buying an additional 10,494 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in NetApp in the fourth quarter worth approximately $5,151,000. Institutional investors and hedge funds own 92.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NTAP. Loop Capital decreased their price target on NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Morgan Stanley restated a "cautious" rating on shares of NetApp in a report on Tuesday, May 20th. Wedbush reiterated a "neutral" rating and set a $110.00 price target on shares of NetApp in a report on Friday, May 30th. TD Cowen dropped their price target on NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Finally, Wall Street Zen lowered NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $117.79.

Insider Buying and Selling

In related news, CAO Lorenzo Daniel De sold 302 shares of the business'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 value of $29,828.54. Following the completion of the transaction, the chief accounting officer now directly owns 455 shares in the company, valued at approximately $44,940.35. The trade was a 39.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $81.83, for a total value of $695,555.00. Following the sale, the chief executive officer now directly owns 249,765 shares of the company's stock, valued at approximately $20,438,269.95. The trade was a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,302 shares of company stock valued at $1,590,514 in the last 90 days. 0.47% of the stock is owned by insiders.

NetApp Price Performance

NetApp stock opened at $104.75 on Friday. The business has a 50 day simple moving average of $97.61 and a 200 day simple moving average of $104.40. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.25 and a quick ratio of 1.22. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The company has a market capitalization of $20.99 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 2.42 and a beta of 1.42.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its earnings results on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. The company had revenue of $1.73 billion for 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%. NetApp's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.80 earnings per share. On average, sell-side analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.52 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.99%. NetApp's dividend payout ratio (DPR) is presently 36.62%.

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.

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