Mufg Securities Americas Inc. Takes $351,000 Position in NetApp, Inc. (NASDAQ:NTAP)

Mufg Securities Americas Inc. bought a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,023 shares of the data storage provider's stock, valued at approximately $351,000.

Several other large investors have also recently added to or reduced their stakes in the business. Barclays PLC increased its position in shares of NetApp by 31.4% during the 3rd quarter. Barclays PLC now owns 784,339 shares of the data storage provider's stock valued at $96,873,000 after purchasing an additional 187,638 shares during the period. Brookstone Capital Management bought a new position in shares of NetApp in the fourth quarter valued at $222,000. Oak Thistle LLC purchased a new stake in shares of NetApp during the fourth quarter valued at $416,000. Park Avenue Securities LLC lifted its holdings in shares of NetApp by 180.1% during the fourth quarter. Park Avenue Securities LLC now owns 13,168 shares of the data storage provider's stock valued at $1,529,000 after purchasing an additional 8,466 shares during the last quarter. Finally, Gateway Investment Advisers LLC purchased a new stake in shares of NetApp during the fourth quarter valued at $419,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Stock Down 0.5%

Shares of NASDAQ:NTAP traded down $0.47 on Tuesday, reaching $101.06. The company had a trading volume of 1,666,111 shares, compared to its average volume of 1,916,661. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. 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 stock has a market capitalization of $20.56 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.45 and a beta of 1.40. The stock has a 50-day moving average price of $89.01 and a 200 day moving average price of $108.24.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were given a dividend of $0.52 per share. The ex-dividend date was Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.06%. NetApp's dividend payout ratio is presently 38.52%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NTAP. Susquehanna downgraded NetApp from a "positive" rating to a "neutral" rating and reduced their target price for the company from $155.00 to $130.00 in a report on Monday, February 10th. StockNews.com cut NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Citigroup raised their target price on NetApp from $90.00 to $105.00 and gave the stock a "neutral" rating in a research report on Friday. Wedbush reaffirmed a "neutral" rating and issued a $110.00 target price (down previously from $120.00) on shares of NetApp in a research report on Friday, February 28th. Finally, Morgan Stanley raised their target price on NetApp from $84.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, NetApp presently has an average rating of "Hold" and an average target price of $121.40.

Insider Buying and Selling

In other news, EVP Elizabeth M. O'callahan sold 528 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $92.58, for a total value of $48,882.24. Following the sale, the executive vice president now directly owns 12,900 shares in the company, valued at approximately $1,194,282. This represents a 3.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Cesar Cernuda sold 19,696 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $90.15, for a total value of $1,775,594.40. Following the transaction, the president now owns 11,928 shares of the company's stock, valued at $1,075,309.20. This represents a 62.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,724 shares of company stock valued at $2,520,032. Insiders own 0.47% of the company's stock.

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.