Sumitomo Mitsui DS Asset Management Company Ltd Purchases 3,250 Shares of NetApp, Inc. (NASDAQ:NTAP)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of NetApp, Inc. (NASDAQ:NTAPGet Rating) by 12.9% in the second quarter, Holdings Channel.com reports. The firm owned 28,513 shares of the data storage provider’s stock after acquiring an additional 3,250 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in NetApp were worth $1,860,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NTAP. Alberta Investment Management Corp bought a new position in NetApp during the 4th quarter worth about $285,000. American International Group Inc. increased its holdings in NetApp by 0.7% during the 4th quarter. American International Group Inc. now owns 107,627 shares of the data storage provider’s stock worth $9,901,000 after purchasing an additional 720 shares in the last quarter. Schroder Investment Management Group increased its holdings in NetApp by 21.2% during the 4th quarter. Schroder Investment Management Group now owns 133,457 shares of the data storage provider’s stock worth $12,276,000 after purchasing an additional 23,337 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in NetApp by 11.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 26,287 shares of the data storage provider’s stock worth $2,417,000 after purchasing an additional 2,716 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in shares of NetApp by 2.1% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 27,823 shares of the data storage provider’s stock worth $2,559,000 after buying an additional 583 shares during the last quarter. Institutional investors own 88.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NTAP shares. Evercore ISI increased their price objective on shares of NetApp to $78.00 in a research note on Tuesday, August 23rd. Susquehanna Bancshares downgraded shares of NetApp to a “neutral” rating and reduced their price objective for the stock from $100.00 to $75.00 in a research note on Monday. Northland Securities reduced their price objective on shares of NetApp from $124.00 to $101.00 in a research note on Thursday, June 2nd. OTR Global upgraded shares of NetApp to a “positive” rating in a research note on Tuesday, July 26th. Finally, Cowen reduced their price objective on shares of NetApp to $85.00 in a research note on Friday, May 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and a consensus price target of $89.22.

NetApp Stock Down 1.7 %

Shares of NTAP opened at $64.23 on Friday. NetApp, Inc. has a 12 month low of $61.26 and a 12 month high of $96.82. The firm’s 50 day moving average is $71.33 and its 200-day moving average is $72.90. The stock has a market capitalization of $13.96 billion, a PE ratio of 15.37, a P/E/G ratio of 1.70 and a beta of 1.19. The company has a current ratio of 1.38, a quick ratio of 1.31 and a debt-to-equity ratio of 3.63.

NetApp (NASDAQ:NTAPGet Rating) last announced its earnings results on Wednesday, August 24th. The data storage provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. NetApp had a net margin of 14.71% and a return on equity of 128.71%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the firm earned $0.99 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts forecast that NetApp, Inc. will post 4.45 EPS for the current year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $2.00 annualized dividend and a dividend yield of 3.11%. NetApp’s dividend payout ratio is presently 47.85%.

Insider Transactions at NetApp

In related news, CEO George Kurian sold 2,125 shares of NetApp stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $69.38, for a total value of $147,432.50. Following the transaction, the chief executive officer now directly owns 163,575 shares of the company’s stock, valued at $11,348,833.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO George Kurian sold 2,125 shares of NetApp stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $69.38, for a total value of $147,432.50. Following the transaction, the chief executive officer now directly owns 163,575 shares of the company’s stock, valued at $11,348,833.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 18,000 shares of NetApp stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $69.82, for a total transaction of $1,256,760.00. Following the completion of the transaction, the president now directly owns 78,463 shares in the company, valued at $5,478,286.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,250 shares of company stock valued at $1,552,943. 0.26% of the stock is currently owned by company insiders.

NetApp Company Profile

(Get Rating)

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, NetApp ElementOS software, and NetApp SANtricity software; and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, and NetApp SolidFire.

See Also

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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