UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Position in NetApp, Inc. (NASDAQ:NTAP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 8.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,986,330 shares of the data storage provider's stock after acquiring an additional 220,393 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.47% of NetApp worth $346,653,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NTAP. Resonant Capital Advisors LLC boosted its stake in NetApp by 1.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock worth $516,000 after buying an additional 80 shares during the period. Larson Financial Group LLC increased its holdings in NetApp by 2.5% in the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after purchasing an additional 92 shares during the last quarter. Geneos Wealth Management Inc. raised its position in NetApp by 22.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock valued at $64,000 after purchasing an additional 100 shares during the period. Moors & Cabot Inc. lifted its stake in NetApp by 3.6% during the fourth quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock worth $337,000 after purchasing an additional 100 shares in the last quarter. Finally, Coppell Advisory Solutions LLC boosted its position in shares of NetApp by 50.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock worth $35,000 after buying an additional 100 shares during the period. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NetApp news, Director Anders Gustafsson acquired 2,800 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were acquired at an average price of $91.00 per share, for a total transaction of $254,800.00. Following the acquisition, the director now owns 6,348 shares in the company, valued at $577,668. The trade was a 78.92% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $81.83, for a total value of $695,555.00. Following the sale, the chief executive officer now owns 249,765 shares of the company's stock, valued at approximately $20,438,269.95. The trade was a 3.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,724 shares of company stock valued at $2,520,032 in the last ninety days. Insiders own 0.47% of the company's stock.

NetApp Price Performance

NetApp stock opened at $99.57 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The company has a fifty day simple moving average of $89.38 and a 200-day simple moving average of $108.13. The stock has a market cap of $20.25 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Friday, April 4th. NetApp's dividend payout ratio is presently 38.52%.

Analyst Ratings Changes

Several research firms recently issued reports on NTAP. Evercore ISI cut their price objective on NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a report on Monday, April 28th. StockNews.com lowered shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Wells Fargo & Company lowered their price objective on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Citigroup lifted their price objective on shares of NetApp from $90.00 to $105.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Susquehanna lowered shares of NetApp from a "positive" rating to a "neutral" rating and reduced their target price for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $121.40.

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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