NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Korea Investment CORP

Korea Investment CORP grew its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 40.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 156,306 shares of the data storage provider’s stock after acquiring an additional 45,076 shares during the period. Korea Investment CORP owned about 0.08% of NetApp worth $18,144,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in NetApp during the fourth quarter worth $26,000. Assetmark Inc. raised its stake in shares of NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after buying an additional 215 shares during the last quarter. Synergy Investment Management LLC acquired a new position in shares of NetApp during the 4th quarter worth $32,000. Golden State Wealth Management LLC acquired a new stake in NetApp in the 4th quarter valued at about $35,000. Finally, OFI Invest Asset Management purchased a new position in NetApp during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Trading Down 3.0 %

Shares of NTAP stock opened at $88.40 on Friday. NetApp, Inc. has a 1-year low of $88.14 and a 1-year high of $135.45. The firm’s 50-day simple moving average is $109.82 and its 200-day simple moving average is $117.25. The firm has a market cap of $17.98 billion, a P/E ratio of 16.25, a PEG ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.35%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Analyst Ratings Changes

Several analysts have issued reports on NTAP shares. Citigroup reduced their price target on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. TD Cowen reduced their target price on NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley increased their price objective on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $129.07.

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 451 shares of NetApp stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $116.79, for a total value of $52,672.29. Following the transaction, the executive vice president now directly owns 12,005 shares of the company’s stock, valued at $1,402,063.95. The trade was a 3.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Cesar Cernuda sold 22,000 shares of the stock in a transaction that occurred on 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 sale, the president now directly owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This trade represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,931 shares of company stock valued at $6,252,759 in the last ninety days. Company insiders own 0.47% of the company’s stock.

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.