Osmosis Investment Management UK Ltd bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,689 shares of the data storage provider’s stock, valued at approximately $726,000.
Several other large investors have also recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in NetApp in the second quarter valued at $1,457,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of NetApp during the 2nd quarter worth about $7,672,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of NetApp during the 2nd quarter worth about $847,000. Globeflex Capital L P purchased a new position in shares of NetApp in the 2nd quarter valued at about $1,556,000. Finally, Bank of Nova Scotia acquired a new stake in shares of NetApp during the 2nd quarter worth about $725,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.
NetApp Stock Up 0.3%
NTAP opened at $187.43 on Wednesday. The business has a 50 day moving average price of $173.96 and a two-hundred day moving average price of $136.41. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. The company has a market cap of $36.78 billion, a PE ratio of 29.47, a P/E/G ratio of 3.34 and a beta of 1.45. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $209.06.
NetApp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, July 10th. NetApp’s dividend payout ratio (DPR) is 32.70%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on NTAP shares. Wall Street Zen cut NetApp from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group restated a “buy” rating and set a $200.00 price objective on shares of NetApp in a research report on Tuesday, June 2nd. Barclays increased their target price on shares of NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Bank of America boosted their price target on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, Wedbush raised their price objective on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, NetApp has an average rating of “Hold” and a consensus target price of $179.77.
Read Our Latest Report on NetApp
Insider Buying and Selling at NetApp
In other news, CAO Lorenzo Daniel De sold 225 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the transaction, the chief accounting officer directly owned 1,090 shares in the company, valued at $186,488.10. The trade was a 17.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the completion of the sale, the executive vice president owned 30,297 shares of the company’s stock, valued at approximately $5,872,164.54. The trade was a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 55,297 shares of company stock valued at $8,758,016. 0.36% of the stock is owned by company insiders.
About NetApp
NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.
The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.
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