Penserra Capital Management LLC Has $872,000 Position in NetApp, Inc. (NASDAQ:NTAP)

Penserra Capital Management LLC lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 72.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,948 shares of the data storage provider's stock after buying an additional 4,180 shares during the quarter. Penserra Capital Management LLC's holdings in NetApp were worth $872,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in NetApp by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock worth $3,069,617,000 after buying an additional 429,343 shares during the period. Ameriprise Financial Inc. lifted its position in shares of NetApp by 14.5% during the fourth quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider's stock worth $815,402,000 after purchasing an additional 888,671 shares in the last quarter. Invesco Ltd. lifted its position in shares of NetApp by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider's stock worth $362,544,000 after purchasing an additional 529,471 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in NetApp by 8.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,986,330 shares of the data storage provider's stock valued at $346,653,000 after acquiring an additional 220,393 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. raised its holdings in NetApp by 0.4% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider's stock valued at $335,215,000 after acquiring an additional 12,919 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $81.83, for a total transaction of $695,555.00. Following the completion of the transaction, the chief executive officer owned 249,765 shares in the company, valued at approximately $20,438,269.95. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 302 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was 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 owned 455 shares of the company's stock, 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. In the last 90 days, insiders have sold 17,302 shares of company stock valued at $1,590,514. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

NTAP has been the topic of several recent analyst reports. Wedbush reaffirmed a "neutral" rating and issued a $110.00 price target on shares of NetApp in a report on Friday, May 30th. Morgan Stanley reissued a "cautious" rating on shares of NetApp in a report on Tuesday, May 20th. UBS Group dropped their target price on shares of NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Evercore ISI dropped their target price on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a report on Monday, April 28th. Finally, Citigroup upped their price target on shares of NetApp from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $117.79.

NetApp Price Performance

NTAP traded down $1.15 on Friday, reaching $105.27. The company had a trading volume of 1,538,114 shares, compared to its average volume of 1,913,030. The company has a fifty day moving average of $101.93 and a 200-day moving average of $103.32. The company has a market capitalization of $21.09 billion, a P/E ratio of 18.53, a PEG ratio of 2.45 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.39. NetApp, Inc. has a one year low of $71.84 and a one year 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, beating 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 firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $1.80 EPS. NetApp's revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.98%. NetApp's dividend payout ratio (DPR) is 36.62%.

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.