Amundi Has $228.49 Million Stake in NetApp, Inc. (NASDAQ:NTAP)

Amundi boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 25.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,948,917 shares of the data storage provider’s stock after buying an additional 397,871 shares during the period. Amundi owned approximately 0.96% of NetApp worth $228,492,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NTAP. Farther Finance Advisors LLC raised its holdings in shares of NetApp by 25.9% during the third quarter. Farther Finance Advisors LLC now owns 796 shares of the data storage provider’s stock valued at $98,000 after purchasing an additional 164 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of NetApp by 111.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 12,673 shares of the data storage provider’s stock worth $1,565,000 after acquiring an additional 6,666 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of NetApp by 0.5% in the 3rd quarter. Principal Financial Group Inc. now owns 282,467 shares of the data storage provider’s stock worth $34,888,000 after acquiring an additional 1,271 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in NetApp in the 3rd quarter worth about $44,000. Finally, Verdence Capital Advisors LLC grew its position in NetApp by 7.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,010 shares of the data storage provider’s stock worth $372,000 after purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. TD Cowen reduced their target price on shares of NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Northland Securities increased their target price on shares of NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Wells Fargo & Company lowered their price objective on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Loop Capital cut their price target on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, NetApp presently has a consensus rating of “Hold” and an average target price of $129.07.

NetApp Stock Up 2.1 %

NTAP opened at $93.77 on Monday. The firm has a 50 day moving average price of $117.43 and a 200-day moving average price of $120.47. 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 $19.07 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a twelve month low of $91.16 and a twelve month high of $135.45.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Insider Transactions at NetApp

In related news, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the sale, the president now owns 27,099 shares of the company’s stock, valued at $3,116,114.01. This represents a 44.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the sale, the chief executive officer now directly owns 279,782 shares in the company, valued at approximately $34,774,104.78. The trade was a 2.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,903 shares of company stock valued at $7,260,341. 0.47% of the stock is currently owned by corporate 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.