Itau Unibanco Holding S.A. Acquires 251 Shares of NetApp, Inc. (NASDAQ:NTAP)

Itau Unibanco Holding S.A. grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 929.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 278 shares of the data storage provider’s stock after acquiring an additional 251 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in NetApp were worth $32,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in NetApp by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider’s stock worth $3,069,617,000 after purchasing an additional 429,343 shares in the last quarter. Invesco Ltd. increased its position in shares of NetApp by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider’s stock worth $362,544,000 after acquiring an additional 529,471 shares in the last quarter. Beutel Goodman & Co Ltd. increased its position in shares of NetApp by 0.4% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider’s stock worth $335,215,000 after acquiring an additional 12,919 shares in the last quarter. Northern Trust Corp raised its holdings in shares of NetApp by 24.2% during the fourth quarter. Northern Trust Corp now owns 2,824,327 shares of the data storage provider’s stock worth $327,848,000 after acquiring an additional 550,607 shares during the period. Finally, Norges Bank bought a new stake in NetApp in the 4th quarter valued at $306,440,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NTAP. Citigroup dropped their price target on NetApp from $110.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their target price on NetApp from $153.00 to $113.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Susquehanna downgraded shares of NetApp from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $155.00 to $130.00 in a report on Monday, February 10th. Finally, StockNews.com lowered shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $123.07.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 452 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $120.75, for a total value of $54,579.00. Following the completion of the sale, the executive vice president now owns 11,553 shares of the company’s stock, valued at $1,395,024.75. The trade was a 3.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael J. Berry sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the transaction, the chief financial officer now directly owns 123,243 shares in the company, valued at $14,880,359.82. This represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,176 shares of company stock valued at $5,095,701. Company insiders own 0.47% of the company’s stock.

NetApp Stock Up 2.9 %

NTAP opened at $92.33 on Friday. The stock’s fifty day simple moving average is $89.43 and its 200 day simple moving average is $110.25. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The stock has a market cap of $18.78 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Friday, April 4th. NetApp’s dividend payout ratio is presently 38.52%.

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.