LGT Fund Management Co Ltd. Buys Shares of 2,124 NetApp, Inc. (NASDAQ:NTAP)

LGT Fund Management Co Ltd. purchased a new stake in NetApp, Inc. (NASDAQ:NTAP) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,124 shares of the data storage provider’s stock, valued at approximately $247,000.

Other large investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of NetApp during the fourth quarter worth approximately $26,000. Golden State Wealth Management LLC bought a new stake in shares of NetApp during the fourth quarter worth $35,000. True Wealth Design LLC lifted its holdings in NetApp by 2,833.3% in the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock valued at $43,000 after buying an additional 340 shares during the period. Capital Performance Advisors LLP acquired a new position in NetApp in the third quarter valued at approximately $44,000. Finally, Ashton Thomas Securities LLC bought a new stake in NetApp in the third quarter valued at approximately $51,000. Institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

NTAP opened at $95.73 on Tuesday. The stock has a 50-day moving average price of $119.41 and a 200-day moving average price of $121.54. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The firm has a market cap of $19.46 billion, a PE ratio of 17.60, a P/E/G ratio of 2.45 and a beta of 1.23. NetApp, Inc. has a 1 year low of $95.18 and a 1 year high of $135.45.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be issued a $0.52 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.17%. NetApp’s payout ratio is 38.52%.

Insider Buying and Selling at NetApp

In other NetApp news, CFO Michael J. Berry sold 12,500 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the completion of the sale, the chief financial officer now directly owns 123,243 shares in the company, valued at $14,880,359.82. The trade was a 9.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $124.29, for a total value of $1,056,465.00. Following the transaction, the chief executive officer now directly owns 279,782 shares in the company, valued at approximately $34,774,104.78. The trade was a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,903 shares of company stock worth $7,260,341 in the last three months. 0.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NTAP shares. Oppenheimer started coverage on shares of NetApp in a research report on Wednesday, November 13th. They set a “market perform” rating for the company. TD Cowen dropped their price objective on shares of NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com lowered shares of NetApp from a “buy” rating to a “hold” rating in a report on Friday. Susquehanna lowered shares of NetApp from a “positive” rating to a “neutral” rating and decreased their price target for the company from $155.00 to $130.00 in a report on Monday, February 10th. Finally, Wedbush restated a “neutral” rating and issued a $110.00 price target (down previously from $120.00) on shares of NetApp in a research report on Friday. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $130.40.

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.