Voya Investment Management LLC Has $18.70 Million Stock Holdings in NetApp, Inc. $NTAP

Key Points

• Voya Investment Management LLC increased its stake in NetApp, Inc. by 2.2%, acquiring an additional 4,669 shares, bringing its total holdings to 212,846 shares worth approximately $18.7 million.
• A significant majority of NetApp's stock, around 92.17%, is owned by institutional investors and hedge funds.
• NetApp has announced a quarterly dividend of $0.52, with a corresponding annualized yield of 1.7%, set to be paid on October 22nd.

Voya Investment Management LLC increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,846 shares of the data storage provider's stock after buying an additional 4,669 shares during the quarter. Voya Investment Management LLC owned 0.11% of NetApp worth $18,696,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NTAP. Manchester Capital Management LLC grew its holdings in shares of NetApp by 375.0% during the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock valued at $25,000 after buying an additional 225 shares in the last quarter. 1248 Management LLC purchased a new position in shares of NetApp during the first quarter valued at $25,000. Olde Wealth Management LLC purchased a new position in shares of NetApp during the first quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of NetApp by 54.9% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider's stock valued at $31,000 after buying an additional 124 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of NetApp during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

Insider Activity

In related news, CEO George Kurian sold 8,750 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the transaction, the chief executive officer owned 274,938 shares of the company's stock, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total value of $123,670.00. Following the transaction, the executive vice president directly owned 23,628 shares of the company's stock, valued at $2,922,074.76. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,750 shares of company stock valued at $3,255,778 in the last three months. 0.28% of the stock is owned by insiders.

NetApp Stock Down 0.9%

Shares of NASDAQ:NTAP traded down $1.20 on Friday, reaching $125.16. The company had a trading volume of 7,250,396 shares, compared to its average volume of 2,221,680. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The stock has a 50-day moving average price of $111.36 and a 200 day moving average price of $100.72. The stock has a market capitalization of $24.98 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.75 and a beta of 1.46. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp's payout ratio is currently 36.75%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NTAP. Northland Securities lifted their price objective on NetApp from $119.00 to $120.00 and gave the company a "market perform" rating in a research report on Thursday, August 28th. UBS Group lifted their price objective on NetApp from $108.00 to $114.00 and gave the company a "neutral" rating in a research report on Thursday, August 28th. Barclays lifted their price objective on NetApp from $117.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Wedbush reissued a "neutral" rating and set a $150.00 price objective on shares of NetApp in a research report on Thursday, August 28th. Finally, Wells Fargo & Company reduced their price objective on NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, NetApp currently has a consensus rating of "Hold" and a consensus price target of $124.07.

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.