Nisa Investment Advisors LLC lessened its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 48.1% in the 1st quarter, Holdings Channel reports. The fund owned 57,932 shares of the data storage provider’s stock after selling 53,604 shares during the quarter. Nisa Investment Advisors LLC’s holdings in NetApp were worth $4,210,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. grew its stake in shares of NetApp by 31.6% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,331,443 shares of the data storage provider’s stock valued at $220,710,000 after buying an additional 800,706 shares during the period. Norges Bank purchased a new stake in shares of NetApp in the 4th quarter valued at approximately $159,114,000. Principal Financial Group Inc. grew its stake in shares of NetApp by 515.6% in the 4th quarter. Principal Financial Group Inc. now owns 2,286,760 shares of the data storage provider’s stock valued at $151,475,000 after buying an additional 1,915,276 shares during the period. Ninety One UK Ltd purchased a new stake in shares of NetApp in the 4th quarter valued at approximately $135,665,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of NetApp by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,552,601 shares of the data storage provider’s stock valued at $102,845,000 after buying an additional 28,695 shares during the period. 90.95% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:NTAP opened at $74.31 on Tuesday. NetApp, Inc. has a 52 week low of $39.81 and a 52 week high of $78.77. The company’s 50 day moving average is $73.78 and its two-hundred day moving average is $63.56. The company has a current ratio of 1.65, a quick ratio of 1.61 and a debt-to-equity ratio of 7.11. The company has a market cap of $16.54 billion, a PE ratio of 24.36, a P/E/G ratio of 1.78 and a beta of 1.35.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, February 24th. The data storage provider reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. NetApp had a net margin of 12.44% and a return on equity of 263.77%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm posted $1.16 EPS. As a group, equities research analysts expect that NetApp, Inc. will post 3.08 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 28th. Investors of record on Friday, April 9th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, April 8th. NetApp’s dividend payout ratio (DPR) is 54.39%.

Several analysts have recently weighed in on the stock. Morgan Stanley increased their price target on shares of NetApp from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, April 14th. JPMorgan Chase & Co. upped their price objective on shares of NetApp from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Wednesday, February 24th. Daiwa Capital Markets upgraded shares of NetApp from a “neutral” rating to an “outperform” rating and set a $70.00 price objective on the stock in a report on Friday, February 26th. Loop Capital upped their price objective on shares of NetApp from $70.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, February 25th. Finally, Cowen upped their price objective on shares of NetApp from $60.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, February 25th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $64.60.

NetApp Company Profile

NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Sync, NetApp Cloud Tiering, NetApp Global File Cache, NetApp SaaS Backup, NetApp Cloud Manager, NetApp Fabric Orchestrator, and NetApp Cloud Insights.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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