2,124 Shares in NetApp, Inc. $NTAP Acquired by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 2,124 shares of the data storage provider’s stock, valued at approximately $226,000.

Several other large investors have also recently added to or reduced their stakes in NTAP. Pacer Advisors Inc. increased its stake in NetApp by 4,687.6% during the 1st quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider’s stock worth $93,874,000 after buying an additional 1,046,372 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in NetApp by 1,230.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock worth $107,359,000 after buying an additional 931,850 shares during the period. Vanguard Group Inc. increased its stake in NetApp by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock worth $2,375,363,000 after buying an additional 597,956 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in NetApp by 18.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock worth $311,529,000 after buying an additional 560,218 shares during the period. Finally, Federated Hermes Inc. increased its stake in NetApp by 97.7% during the 1st quarter. Federated Hermes Inc. now owns 1,096,236 shares of the data storage provider’s stock worth $96,293,000 after buying an additional 541,837 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley set a $117.00 target price on shares of NetApp in a research note on Thursday, August 28th. Bank of America boosted their price target on shares of NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. Barclays boosted their price target on shares of NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Northland Securities boosted their price target on shares of NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Finally, Wedbush reiterated a “neutral” rating and set a $150.00 price target on shares of NetApp in a report on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, NetApp presently has an average rating of “Hold” and an average target price of $124.07.

NetApp Stock Down 1.1%

NTAP stock opened at $118.72 on Friday. The company has a fifty day moving average price of $114.37 and a 200 day moving average price of $102.74. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The company has a market cap of $23.70 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.58 and a beta of 1.45. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. NetApp’s dividend payout ratio is presently 36.75%.

Insiders Place Their Bets

In other NetApp news, CEO George Kurian sold 8,750 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were 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 in the company, valued at approximately $33,792,629.58. This represents a 3.08% 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, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $105.90, for a total transaction of $105,900.00. Following the transaction, the executive vice president owned 23,251 shares of the company’s stock, valued at approximately $2,462,280.90. The trade was a 4.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,529 shares of company stock worth $3,350,714. 0.28% of the stock is owned by insiders.

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.