NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 7.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 196,726 shares of the data storage provider’s stock after purchasing an additional 13,859 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NetApp were worth $22,836,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NTAP. State Street Corp grew its holdings in NetApp by 2.0% in the third quarter. State Street Corp now owns 10,261,170 shares of the data storage provider’s stock valued at $1,267,357,000 after purchasing an additional 199,384 shares during the period. Geode Capital Management LLC boosted its holdings in shares of NetApp by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock valued at $738,280,000 after purchasing an additional 453,324 shares during the last quarter. Amundi grew its stake in shares of NetApp by 25.7% during the 4th quarter. Amundi now owns 1,948,917 shares of the data storage provider’s stock valued at $228,492,000 after buying an additional 397,871 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of NetApp by 9.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock worth $156,268,000 after buying an additional 113,360 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of NetApp by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,287,432 shares of the data storage provider’s stock worth $149,445,000 after buying an additional 27,857 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NTAP. Loop Capital lowered their price target on NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. dropped their target price on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company cut their price target on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus increased their price objective on shares of NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $129.07.

NetApp Price Performance

Shares of NTAP opened at $90.92 on Wednesday. NetApp, Inc. has a 52 week low of $90.08 and a 52 week high of $135.45. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The firm has a market cap of $18.49 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.45 and a beta of 1.24. The stock has a 50 day moving average of $116.44 and a 200-day moving average of $119.89.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.29%. NetApp’s payout ratio is 38.52%.

Insiders Place Their Bets

In related news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 279,782 shares of the company’s stock, valued at $34,774,104.78. This represents a 2.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now directly owns 27,099 shares in the company, valued at $3,116,114.01. This represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,431 shares of company stock valued at $7,309,224. Company insiders own 0.47% of the company’s stock.

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.