NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 290,517 shares of the data storage provider’s stock after purchasing an additional 30,527 shares during the period. Pictet Asset Management Holding SA owned approximately 0.14% of NetApp worth $33,723,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC increased its stake in NetApp by 2.1% during the 3rd quarter. FMR LLC now owns 267,785 shares of the data storage provider’s stock valued at $33,074,000 after buying an additional 5,636 shares during the period. Townsquare Capital LLC increased its stake in shares of NetApp by 66.5% during the third quarter. Townsquare Capital LLC now owns 5,989 shares of the data storage provider’s stock valued at $740,000 after acquiring an additional 2,392 shares during the period. Freedom Investment Management Inc. bought a new stake in NetApp during the third quarter worth approximately $205,000. Public Sector Pension Investment Board lifted its position in NetApp by 12.7% in the third quarter. Public Sector Pension Investment Board now owns 8,897 shares of the data storage provider’s stock worth $1,099,000 after purchasing an additional 1,000 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in NetApp by 124.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 42,064 shares of the data storage provider’s stock valued at $5,194,000 after purchasing an additional 23,305 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NTAP shares. Wedbush restated a “neutral” rating and issued a $110.00 price objective (down previously from $120.00) on shares of NetApp in a report on Friday, February 28th. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $121.00 to $128.00 in a research report on Wednesday, February 19th. 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 note on Friday, February 28th. 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 report on Friday, February 28th. Finally, JPMorgan Chase & Co. decreased their price target on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $129.07.

NetApp Trading Down 3.0 %

NetApp stock opened at $88.40 on Monday. The business has a 50 day moving average price of $109.82 and a two-hundred day moving average price of $117.26. 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 12 month low of $87.70 and a 12 month high of $135.45. The stock has a market cap of $17.98 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

The firm also recently declared 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 of this dividend is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.35%. NetApp’s dividend payout ratio is currently 38.52%.

Insider Buying and Selling at NetApp

In other news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $123.03, for a total value of $1,045,755.00. Following the sale, the chief executive officer now owns 271,282 shares of the company’s stock, valued at approximately $33,375,824.46. This represents a 3.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 451 shares of NetApp stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction 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. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,931 shares of company stock valued at $3,722,979 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

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.