Livforsakringsbolaget Skandia Omsesidigt Raises Stock Holdings in NetApp, Inc. $NTAP

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in NetApp, Inc. by 20.9%, holding a total of 91,541 shares worth approximately $9.75 million as of its latest SEC filing.
• NetApp announced a quarterly dividend of $0.52 per share, reflecting an annualized payout of $2.08 and a yield of 1.6%.
• Research analysts have mixed ratings for NetApp, with a consensus target price of $124.07 and a majority rating the stock as a "Hold."

Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 20.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,541 shares of the data storage provider's stock after buying an additional 15,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in NetApp were worth $9,748,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake 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 during the period. Achmea Investment Management B.V. lifted its position in shares of NetApp by 55.8% during the first quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider's stock worth $19,492,000 after purchasing an additional 79,457 shares during the last quarter. Burns Matteson Capital Management LLC bought a new stake in shares of NetApp during the first quarter worth $321,000. UNICOM Systems Inc. bought a new stake in shares of NetApp during the first quarter worth $13,483,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of NetApp during the first quarter worth $2,050,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NetApp

In related news, CEO George Kurian sold 8,750 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the transaction, the chief executive officer directly owned 274,938 shares in the company, valued at $33,792,629.58. This trade represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction dated Wednesday, September 10th. The stock was 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. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,750 shares of company stock valued at $3,255,778 over the last 90 days. 0.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on NTAP shares. Argus restated a "buy" rating and issued a $130.00 price objective on shares of NetApp in a report on Friday, August 29th. Barclays lifted their target price on NetApp from $117.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Morgan Stanley set a $117.00 target price on NetApp in a research note on Thursday, August 28th. JPMorgan Chase & Co. lifted their target price on NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Wedbush reiterated a "neutral" rating and issued a $150.00 target price on shares of NetApp in a research note on Thursday, August 28th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $124.07.

NetApp Trading Down 0.3%

Shares of NASDAQ:NTAP traded down $0.31 during midday trading on Tuesday, reaching $124.30. 381,949 shares of the company's stock were exchanged, compared to its average volume of 2,075,443. The firm's 50 day simple moving average is $111.76 and its two-hundred day simple moving average is $101.04. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The stock has a market cap of $24.81 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 2.73 and a beta of 1.46. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28.

NetApp Announces Dividend

The company also recently announced 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 is Friday, October 3rd. NetApp's dividend payout ratio (DPR) is 36.75%.

NetApp 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.