NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 6.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,428 shares of the data storage provider's stock after acquiring an additional 2,682 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in NetApp were worth $3,727,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in NTAP. M&T Bank Corp lifted its holdings in shares of NetApp by 4.8% during the fourth quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider's stock worth $1,485,000 after purchasing an additional 581 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of NetApp by 39.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider's stock worth $3,250,000 after acquiring an additional 10,494 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in shares of NetApp in the 4th quarter worth $5,151,000. Achmea Investment Management B.V. lifted its stake in shares of NetApp by 55.8% in the 1st quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider's stock worth $19,492,000 after acquiring an additional 79,457 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of NetApp by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock worth $3,069,617,000 after acquiring an additional 429,343 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Performance

Shares of NTAP opened at $107.48 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.39. The stock has a market cap of $21.53 billion, a P/E ratio of 18.92, a PEG ratio of 2.48 and a beta of 1.42. The company has a 50-day moving average of $99.90 and a two-hundred day moving average of $103.83. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45.

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. NetApp had a net margin of 18.05% and a return on equity of 126.96%. The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the business posted $1.80 earnings per share. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, July 3rd. NetApp's payout ratio is 36.62%.

Analyst Ratings Changes

NTAP has been the subject of a number of recent analyst reports. Wedbush restated a "neutral" rating and issued a $110.00 price objective on shares of NetApp in a research report on Friday, May 30th. Barclays raised their price target on NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Morgan Stanley reissued a "cautious" rating on shares of NetApp in a report on Tuesday, May 20th. JPMorgan Chase & Co. reduced their target price on NetApp from $120.00 to $115.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Finally, Evercore ISI reduced their target price on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $117.79.

Insider Activity

In related news, CEO George Kurian sold 8,500 shares of the business's 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 owned 249,765 shares of the company's stock, valued at approximately $20,438,269.95. The trade was a 3.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 302 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total transaction of $29,828.54. Following the completion of the transaction, the chief accounting officer directly owned 455 shares of the company's stock, valued at approximately $44,940.35. This represents a 39.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,302 shares of company stock valued at $1,590,514 in the last three months. 0.47% of the stock is currently owned by corporate insiders.

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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