Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in NetApp Inc. (NASDAQ:NTAP) by 5.2% during the 3rd quarter, Holdings Channel reports. The fund owned 190,374 shares of the data storage provider’s stock after selling 10,432 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NetApp were worth $16,351,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in NTAP. CENTRAL TRUST Co grew its position in NetApp by 589.7% in the 3rd quarter. CENTRAL TRUST Co now owns 1,276 shares of the data storage provider’s stock valued at $110,000 after acquiring an additional 1,091 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in NetApp by 16,433.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,488 shares of the data storage provider’s stock valued at $116,000 after acquiring an additional 1,479 shares during the last quarter. Cerebellum GP LLC bought a new position in NetApp in the 3rd quarter valued at $182,000. Checchi Capital Advisers LLC bought a new position in NetApp in the 3rd quarter valued at $201,000. Finally, Greenleaf Trust bought a new position in NetApp in the 2nd quarter valued at $206,000. 95.59% of the stock is currently owned by institutional investors.
Shares of NASDAQ NTAP opened at $65.66 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.65 and a quick ratio of 1.63. The firm has a market cap of $16.60 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.16 and a beta of 1.38. NetApp Inc. has a 1-year low of $52.00 and a 1-year high of $88.08.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Friday, January 4th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, January 3rd. NetApp’s dividend payout ratio (DPR) is currently 53.51%.
NTAP has been the topic of several research analyst reports. Bank of America upped their price objective on NetApp from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, August 13th. DA Davidson upped their target price on NetApp from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Lake Street Capital lowered their target price on NetApp from $88.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, August 16th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $92.00 target price on shares of NetApp in a report on Thursday, August 16th. Finally, Maxim Group upped their target price on NetApp from $81.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. NetApp has a consensus rating of “Buy” and a consensus target price of $81.78.
In related news, CEO George Kurian sold 46,638 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $84.76, for a total transaction of $3,953,036.88. Following the completion of the sale, the chief executive officer now directly owns 55,950 shares in the company, valued at approximately $4,742,322. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Henri P. Richard sold 2,525 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $84.12, for a total value of $212,403.00. Following the sale, the executive vice president now owns 68,390 shares of the company’s stock, valued at $5,752,966.80. The disclosure for this sale can be found here. Insiders have sold a total of 100,805 shares of company stock valued at $8,227,046 over the last 90 days. 0.19% of the stock is currently owned by company insiders.
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NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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