Schroder Investment Management Group Has $109.56 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Schroder Investment Management Group raised its holdings in NetApp, Inc. (NASDAQ:NTAP) by 28.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 940,475 shares of the data storage provider’s stock after purchasing an additional 210,746 shares during the period. Schroder Investment Management Group owned approximately 0.46% of NetApp worth $109,556,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NTAP. Norges Bank bought a new stake in shares of NetApp in the fourth quarter valued at approximately $306,440,000. Boston Partners grew its holdings in shares of NetApp by 53.9% during the 4th quarter. Boston Partners now owns 2,083,189 shares of the data storage provider’s stock worth $241,867,000 after purchasing an additional 729,394 shares in the last quarter. KBC Group NV grew its holdings in shares of NetApp by 276.9% during the 4th quarter. KBC Group NV now owns 891,033 shares of the data storage provider’s stock worth $103,431,000 after purchasing an additional 654,626 shares in the last quarter. Raymond James Financial Inc. acquired a new position in NetApp in the fourth quarter valued at about $64,683,000. Finally, Geode Capital Management LLC lifted its position in NetApp by 8.2% during the third quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock worth $738,280,000 after purchasing an additional 453,324 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on NTAP. TD Cowen decreased their target price on shares of NetApp from $160.00 to $130.00 and set a “buy” 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 report on Wednesday, February 19th. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and raised their target price for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Susquehanna cut NetApp from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Finally, Loop Capital reduced their price objective on NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $129.07.

Insider Buying and Selling

In other news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total value of $1,011,840.00. Following the transaction, the chief executive officer now directly owns 266,765 shares of the company’s stock, valued at $31,755,705.60. The trade was a 3.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 451 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $116.79, for a total value of $52,672.29. Following the sale, the executive vice president now directly owns 12,005 shares of the company’s stock, valued at $1,402,063.95. This represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,931 shares of company stock valued at $3,722,979 over the last ninety days. 0.47% of the stock is owned by company insiders.

NetApp Stock Performance

NASDAQ NTAP opened at $88.40 on Monday. The company has a market capitalization of $17.98 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.45 and a beta of 1.24. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a twelve month low of $86.95 and a twelve month high of $135.45. The stock has a fifty day simple moving average of $109.82 and a 200 day simple moving average of $117.26.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date 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 38.52%.

NetApp 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.