Robeco Institutional Asset Management B.V. Has $44.03 Million Stake in NetApp, Inc. (NASDAQ:NTAP)

Robeco Institutional Asset Management B.V. cut its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 62.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 501,278 shares of the data storage provider's stock after selling 844,934 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.25% of NetApp worth $44,032,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NTAP. M&T Bank Corp lifted its holdings in NetApp by 4.8% in the fourth quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider's stock valued at $1,485,000 after buying an additional 581 shares during the period. Versor Investments LP bought a new stake in NetApp in the 4th quarter valued at about $395,000. AMJ Financial Wealth Management grew its stake in NetApp by 120.7% in the 4th quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider's stock valued at $7,998,000 after buying an additional 37,684 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in NetApp by 39.6% during the 1st 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. Finally, Brandywine Global Investment Management LLC bought a new position in shares of NetApp in the fourth quarter valued at approximately $5,151,000. 92.17% of the stock is owned by institutional investors.

NetApp Stock Performance

Shares of NTAP stock opened at $104.75 on Friday. The company has a market capitalization of $20.99 billion, a P/E ratio of 18.44, a PEG ratio of 2.42 and a beta of 1.42. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a 50 day moving average price of $97.61 and a two-hundred day moving average price of $104.40.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, beating 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 net margin of 18.05% and a return on equity of 126.96%. The firm's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 EPS. Analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, July 3rd. NetApp's payout ratio is 36.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NTAP shares. Wall Street Zen lowered NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Barclays upped their price objective on shares of NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Wells Fargo & Company lowered their target price on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Morgan Stanley reissued a "cautious" rating on shares of NetApp in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of NetApp from $120.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $117.79.

Insider Transactions at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $101.78, for a total transaction of $865,130.00. Following the sale, the chief executive officer now directly owns 296,805 shares in the company, valued at approximately $30,208,812.90. This trade represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lorenzo Daniel De sold 302 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total value of $29,828.54. Following the transaction, the chief accounting officer now directly owns 455 shares in the company, valued at $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 ninety days, insiders sold 17,302 shares of company stock valued at $1,590,514. Company insiders own 0.47% of the company's stock.

NetApp Company 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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