NetApp, Inc. (NASDAQ:NTAP) Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 72.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,948 shares of the data storage provider's stock after acquiring an additional 4,180 shares during the period. Penserra Capital Management LLC's holdings in NetApp were worth $872,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NTAP. Assetmark Inc. increased its position in NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after purchasing an additional 215 shares during the last quarter. Olde Wealth Management LLC purchased a new position in shares of NetApp in the 1st quarter worth $29,000. Itau Unibanco Holding S.A. increased its holdings in shares of NetApp by 929.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after buying an additional 251 shares during the last quarter. Coppell Advisory Solutions LLC raised its position in shares of NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after buying an additional 100 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in NetApp in the fourth quarter worth about $36,000. 92.17% of the stock is currently owned by institutional investors.

NetApp Stock Down 0.2%

Shares of NTAP stock traded down $0.25 on Thursday, hitting $106.42. The stock had a trading volume of 1,354,744 shares, compared to its average volume of 1,915,960. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The business has a 50 day moving average price of $101.34 and a 200 day moving average price of $103.49. The company has a market cap of $21.32 billion, a PE ratio of 18.74, a P/E/G ratio of 2.46 and a beta of 1.42. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 2.39.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its earnings results on Thursday, May 29th. The data storage provider reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. NetApp had a return on equity of 126.96% and a net margin of 18.05%. NetApp's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.80 earnings per share. Research analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, July 3rd. NetApp's payout ratio is 36.62%.

Insider Transactions at NetApp

In related news, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $101.78, for a total transaction of $865,130.00. Following the completion of the sale, the chief executive officer owned 296,805 shares of the company's stock, valued at $30,208,812.90. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lorenzo Daniel De sold 302 shares of the company's stock in a transaction 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 transaction, the chief accounting officer directly owned 455 shares in the company, valued at approximately $44,940.35. The trade was a 39.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,302 shares of company stock worth $1,590,514 over the last 90 days. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

NTAP has been the subject of several analyst reports. Evercore ISI lowered their price objective on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company dropped their price objective on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. UBS Group cut their price objective on shares of NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Citigroup raised their target price on shares of NetApp from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of NetApp from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, NetApp currently has a consensus rating of "Hold" and a consensus price target of $117.79.

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.