Bank of New York Mellon Corp Has $187.61 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Bank of New York Mellon Corp lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,616,221 shares of the data storage provider’s stock after acquiring an additional 1,511 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.79% of NetApp worth $187,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rothschild Investment LLC increased its holdings in NetApp by 213.4% in the fourth quarter. Rothschild Investment LLC now owns 3,848 shares of the data storage provider’s stock worth $447,000 after purchasing an additional 2,620 shares in the last quarter. IFP Advisors Inc grew its position in shares of NetApp by 7.8% during the 4th quarter. IFP Advisors Inc now owns 3,256 shares of the data storage provider’s stock worth $378,000 after buying an additional 235 shares during the period. J. W. Coons Advisors LLC increased its stake in shares of NetApp by 11.0% in the 4th quarter. J. W. Coons Advisors LLC now owns 2,936 shares of the data storage provider’s stock valued at $341,000 after acquiring an additional 290 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of NetApp during the 4th quarter valued at $386,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in NetApp by 15.5% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 62,496 shares of the data storage provider’s stock worth $7,255,000 after acquiring an additional 8,400 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Price Performance

NetApp stock opened at $118.22 on Friday. NetApp, Inc. has a 52 week low of $86.43 and a 52 week high of $135.45. The company’s 50 day moving average price is $120.22 and its two-hundred day moving average price is $122.02. The stock has a market cap of $24.03 billion, a P/E ratio of 21.73, a P/E/G ratio of 2.45 and a beta of 1.23. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.76%. NetApp’s dividend payout ratio is currently 38.24%.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 452 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $120.75, for a total transaction of $54,579.00. Following the completion of the sale, the executive vice president now owns 11,553 shares in the company, valued at $1,395,024.75. This trade represents a 3.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Monday, December 16th. The stock was 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 directly owns 279,782 shares in the company, valued at $34,774,104.78. This trade represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,903 shares of company stock worth $7,260,341 in the last quarter. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NTAP has been the subject of several research analyst reports. Stifel Nicolaus lifted their price target on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Oppenheimer started coverage on NetApp in a research report on Wednesday, November 13th. They issued a “market perform” rating for the company. Susquehanna lowered NetApp from a “positive” rating to a “neutral” rating and cut their price target for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Wedbush restated a “neutral” rating and set a $120.00 price objective on shares of NetApp in a report on Friday, November 22nd. Finally, Northland Securities increased their target price on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $137.33.

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.