ProShare Advisors LLC Grows Stake in NetApp, Inc. (NASDAQ:NTAP)

ProShare Advisors LLC raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,208 shares of the data storage provider's stock after purchasing an additional 3,938 shares during the period. ProShare Advisors LLC's holdings in NetApp were worth $4,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted 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. boosted its stake in shares of NetApp by 14.5% during the 4th 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 during the period. Invesco Ltd. boosted its stake in shares of NetApp by 20.4% during the 4th 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 during the period. Beutel Goodman & Co Ltd. grew its holdings in NetApp by 0.4% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider's stock valued at $335,215,000 after purchasing an additional 12,919 shares during the last quarter. Finally, Northern Trust Corp raised its position in NetApp by 24.2% in the 4th quarter. Northern Trust Corp now owns 2,824,327 shares of the data storage provider's stock worth $327,848,000 after purchasing an additional 550,607 shares during the period. Institutional investors own 92.17% of the company's stock.

NetApp Stock Up 1.0%

NetApp stock opened at $101.53 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The firm has a market cap of $20.65 billion, a P/E ratio of 18.66, a P/E/G ratio of 2.45 and a beta of 1.40. The business has a fifty day moving average of $89.01 and a two-hundred day moving average of $108.24. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Friday, April 4th. NetApp's dividend payout ratio (DPR) is currently 38.52%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Susquehanna lowered NetApp from a "positive" rating to a "neutral" rating and dropped their target price for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Evercore ISI dropped their price objective on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a report on Monday, April 28th. TD Cowen reduced their target price on NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Wedbush reiterated a "neutral" rating and set a $110.00 target price (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Finally, Wells Fargo & Company cut their price target on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $124.07.

Insider Activity at NetApp

In related news, President Cesar Cernuda sold 19,696 shares of NetApp stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $90.15, for a total value of $1,775,594.40. Following the completion of the sale, the president now directly owns 11,928 shares in the company, valued at $1,075,309.20. This trade represents a 62.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth M. O'callahan sold 528 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the sale, the executive vice president now directly owns 12,900 shares in the company, valued at $1,194,282. This trade represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,724 shares of company stock valued at $2,520,032 over the last quarter. 0.47% of the stock is owned by corporate insiders.

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.

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