NetApp, Inc. $NTAP Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 30.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 347,903 shares of the data storage provider's stock after selling 153,375 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.17% of NetApp worth $37,069,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NTAP. Assenagon Asset Management S.A. lifted its position in shares of 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 purchasing an additional 10,494 shares in the last quarter. 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 in the last quarter. Burns Matteson Capital Management LLC acquired a new stake in shares of NetApp during the first quarter worth about $321,000. UNICOM Systems Inc. acquired a new stake in shares of NetApp during the first quarter worth about $13,483,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of NetApp during the first quarter worth about $2,050,000. Institutional investors and hedge funds own 92.17% of the company's stock.

NetApp Stock Performance

Shares of NetApp stock opened at $118.72 on Friday. The firm has a market capitalization of $23.70 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.61 and a beta of 1.45. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. The firm's 50 day moving average is $114.37 and its two-hundred day moving average is $102.68.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, October 3rd. NetApp's dividend payout ratio is currently 36.75%.

Wall Street Analyst Weigh In

NTAP has been the topic of several research reports. Wedbush reissued a "neutral" rating and set a $150.00 price target on shares of NetApp in a research report on Thursday, August 28th. Weiss Ratings reissued a "hold (c+)" rating on shares of NetApp in a research report on Saturday, September 27th. Argus reissued a "buy" rating and set a $130.00 price target on shares of NetApp in a research report on Friday, August 29th. Northland Securities raised their target price on shares of NetApp from $119.00 to $120.00 and gave the company a "market perform" rating in a report on Thursday, August 28th. Finally, Morgan Stanley set a $117.00 target price on shares of NetApp in a report on Thursday, August 28th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $124.07.

Insider Buying and Selling at NetApp

In other news, CEO George Kurian sold 8,750 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $105.90, for a total transaction of $105,900.00. Following the transaction, the executive vice president owned 23,251 shares in the company, valued at approximately $2,462,280.90. This trade represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,529 shares of company stock worth $3,350,714 over the last three months. Insiders own 0.28% of the company's stock.

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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