Robeco Institutional Asset Management B.V. Lowers Stock Position in NetApp, Inc. $NTAP

Robeco Institutional Asset Management B.V. cut its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 30.6% during the second quarter, HoldingsChannel.com reports. The fund owned 347,903 shares of the data storage provider’s stock after selling 153,375 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in NetApp were worth $37,069,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in shares of NetApp by 39.6% during the first quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider’s stock worth $3,250,000 after purchasing an additional 10,494 shares during the period. Achmea Investment Management B.V. lifted its holdings in shares of NetApp by 55.8% during the first quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider’s stock worth $19,492,000 after purchasing an additional 79,457 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in shares of NetApp during the first quarter worth $321,000. UNICOM Systems Inc. acquired a new stake in shares of NetApp during the first quarter worth $13,483,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of NetApp during the first quarter worth $2,050,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on NTAP. Argus reaffirmed a “buy” rating and set a $130.00 price target on shares of NetApp in a report on Friday, August 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a report on Saturday, September 27th. Citigroup raised their target price on NetApp from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Monday, August 11th. JPMorgan Chase & Co. raised their target price on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Finally, Morgan Stanley set a $117.00 target price on NetApp in a report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $124.07.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on Monday, August 11th. The stock was sold at an average price of $105.90, for a total transaction of $105,900.00. Following the completion of the transaction, the executive vice president owned 23,251 shares of the company’s stock, valued at $2,462,280.90. The trade was a 4.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total value of $1,075,462.50. Following the transaction, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at $33,792,629.58. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,529 shares of company stock valued at $3,350,714 in the last 90 days. 0.28% of the stock is currently owned by insiders.

NetApp Trading Down 1.1%

NASDAQ:NTAP opened at $118.72 on Friday. The company has a market capitalization of $23.70 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.61 and a beta of 1.45. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The stock has a fifty day simple moving average of $114.37 and a 200-day simple moving average of $102.68.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp’s payout ratio is 36.75%.

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.