Amundi Pioneer Asset Management Inc. acquired a new stake in NetApp Inc. (NASDAQ:NTAP) in the fourth quarter, Holdings Channel reports. The firm acquired 311,490 shares of the data storage provider’s stock, valued at approximately $17,233,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. IFP Advisors Inc lifted its stake in NetApp by 45.3% in the fourth quarter. IFP Advisors Inc now owns 2,571 shares of the data storage provider’s stock valued at $142,000 after buying an additional 801 shares during the last quarter. Quantitative Systematic Strategies LLC lifted its stake in NetApp by 11.5% in the fourth quarter. Quantitative Systematic Strategies LLC now owns 9,358 shares of the data storage provider’s stock valued at $518,000 after buying an additional 962 shares during the last quarter. SG Americas Securities LLC lifted its stake in NetApp by 0.4% in the fourth quarter. SG Americas Securities LLC now owns 264,699 shares of the data storage provider’s stock valued at $14,643,000 after buying an additional 981 shares during the last quarter. DnB Asset Management AS lifted its stake in NetApp by 3.3% in the fourth quarter. DnB Asset Management AS now owns 31,397 shares of the data storage provider’s stock valued at $1,737,000 after buying an additional 1,000 shares during the last quarter. Finally, Afam Capital Inc. lifted its stake in NetApp by 6.3% in the fourth quarter. Afam Capital Inc. now owns 20,216 shares of the data storage provider’s stock valued at $1,118,000 after buying an additional 1,207 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

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NetApp Inc. (NASDAQ NTAP) opened at $64.55 on Thursday. The stock has a market capitalization of $17,220.00, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 2.05 and a beta of 1.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.91 and a quick ratio of 1.88. NetApp Inc. has a 52-week low of $37.43 and a 52-week high of $65.58.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.08. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.49 billion. NetApp had a positive return on equity of 29.38% and a negative net margin of 0.09%. During the same quarter in the prior year, the business posted $0.82 earnings per share. equities analysts expect that NetApp Inc. will post 2.91 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, April 5th. NetApp’s payout ratio is 25.72%.

A number of equities research analysts have weighed in on the company. Pivotal Research set a $62.00 price objective on NetApp and gave the company a “hold” rating in a research note on Wednesday, February 28th. Zacks Investment Research cut NetApp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. TheStreet cut NetApp from a “b” rating to a “c+” rating in a research note on Wednesday, February 14th. Wells Fargo & Co boosted their price objective on NetApp from $54.00 to $62.00 and gave the company a “market perform” rating in a research note on Thursday, February 15th. Finally, BMO Capital Markets boosted their price objective on NetApp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $56.23.

In other NetApp news, Director Thomas Michael Nevens sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $55.67, for a total value of $1,113,400.00. Following the sale, the director now owns 17,000 shares of the company’s stock, valued at $946,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joel D. Reich sold 6,500 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $55.80, for a total value of $362,700.00. Following the completion of the sale, the vice president now directly owns 3,950 shares in the company, valued at approximately $220,410. The disclosure for this sale can be found here. Insiders sold 63,027 shares of company stock valued at $3,653,425 in the last quarter. 0.47% of the stock is currently owned by company insiders.

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About NetApp

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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