153,500 Shares in NetApp, Inc. (NASDAQ:NTAP) Purchased by UNICOM Systems Inc.

UNICOM Systems Inc. acquired a new stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 153,500 shares of the data storage provider's stock, valued at approximately $13,483,000. NetApp accounts for about 2.7% of UNICOM Systems Inc.'s investment portfolio, making the stock its 10th largest holding. UNICOM Systems Inc. owned about 0.08% of NetApp at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its stake in shares of NetApp by 826.9% in the 4th 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 period. Olde Wealth Management LLC bought a new position in NetApp in the first quarter worth approximately $29,000. Itau Unibanco Holding S.A. raised its position in NetApp by 929.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after acquiring an additional 251 shares during the period. Coppell Advisory Solutions LLC boosted its stake 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 worth $35,000 after acquiring an additional 100 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new stake in shares of NetApp during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Price Performance

Shares of NTAP stock traded down $0.60 during trading hours on Monday, hitting $104.67. The stock had a trading volume of 1,275,028 shares, compared to its average volume of 2,126,963. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a market capitalization of $20.97 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 2.43 and a beta of 1.42. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The stock's 50-day moving average price is $101.93 and its two-hundred day moving average price is $103.11.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The data storage provider reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. NetApp had a return on equity of 126.96% and a net margin of 18.05%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.80 EPS. Equities analysts forecast that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.08 annualized dividend and a yield of 1.99%. NetApp's dividend payout ratio (DPR) is currently 36.62%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NTAP shares. Wedbush reiterated a "neutral" rating and set a $110.00 target price on shares of NetApp in a research report on Friday, May 30th. Wells Fargo & Company lowered their price objective on NetApp from $115.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Morgan Stanley reiterated a "cautious" rating on shares of NetApp in a research note on Tuesday, May 20th. Barclays raised their target price on shares of NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. reduced their price objective 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 analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $117.79.

Insiders Place Their Bets

In other news, CEO George Kurian sold 8,500 shares of the company'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 sale, the chief executive officer directly owned 249,765 shares in the company, valued at approximately $20,438,269.95. This represents a 3.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 302 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 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. Insiders sold a total of 17,302 shares of company stock valued at $1,590,514 over the last three months. Corporate insiders own 0.47% of the company's stock.

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.