Assenagon Asset Management S.A. Purchases 1,002 Shares of NetApp, Inc. $NTAP

Assenagon Asset Management S.A. lifted its position in NetApp, Inc. (NASDAQ:NTAP) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,000 shares of the data storage provider’s stock after buying an additional 1,002 shares during the period. Assenagon Asset Management S.A.’s holdings in NetApp were worth $4,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Horizon Investments LLC raised its position in shares of NetApp by 3.8% during the first quarter. Horizon Investments LLC now owns 2,919 shares of the data storage provider’s stock worth $255,000 after purchasing an additional 107 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in NetApp by 11.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,083 shares of the data storage provider’s stock worth $115,000 after buying an additional 107 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in NetApp by 54.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after buying an additional 124 shares in the last quarter. Hohimer Wealth Management LLC lifted its stake in NetApp by 0.4% in the first quarter. Hohimer Wealth Management LLC now owns 29,694 shares of the data storage provider’s stock valued at $2,608,000 after buying an additional 131 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of NetApp by 0.5% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 26,827 shares of the data storage provider’s stock valued at $2,356,000 after buying an additional 137 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total value of $123,670.00. Following the completion of the sale, the executive vice president directly owned 23,628 shares in the company, valued at approximately $2,922,074.76. This trade represents a 4.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $33,792,629.58. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,750 shares of company stock worth $3,255,778. 0.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wells Fargo & Company cut their price objective on shares of NetApp from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Friday, May 30th. Morgan Stanley set a $117.00 price target on NetApp in a report on Thursday, August 28th. Barclays upped their price objective on NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Bank of America lifted their target price on NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday, August 25th. Finally, Northland Securities upped their price target on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, NetApp presently has an average rating of “Hold” and an average price target of $124.07.

NetApp Trading Down 0.2%

NASDAQ NTAP opened at $123.25 on Thursday. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. The stock has a 50 day moving average of $112.54 and a 200-day moving average of $101.35. The company has a market cap of $24.60 billion, a PE ratio of 21.78, a PEG ratio of 2.68 and a beta of 1.46.

NetApp Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, October 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. NetApp’s payout ratio is currently 36.75%.

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.