Arizona State Retirement System Acquires 494 Shares of NetApp, Inc. (NASDAQ:NTAP)

Arizona State Retirement System grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 0.8% in the fourth quarter, Holdings Channel reports. The firm owned 59,456 shares of the data storage provider’s stock after buying an additional 494 shares during the quarter. Arizona State Retirement System’s holdings in NetApp were worth $6,902,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Resonant Capital Advisors LLC grew its holdings in shares of NetApp by 1.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock worth $516,000 after acquiring an additional 80 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of NetApp by 22.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock worth $64,000 after acquiring an additional 100 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of NetApp by 2.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider’s stock worth $534,000 after acquiring an additional 111 shares during the period. Wealthspire Advisors LLC grew its holdings in shares of NetApp by 4.1% in the fourth quarter. Wealthspire Advisors LLC now owns 3,132 shares of the data storage provider’s stock worth $364,000 after acquiring an additional 123 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of NetApp by 2.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,448 shares of the data storage provider’s stock worth $796,000 after acquiring an additional 128 shares during the period. Institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NetApp stock opened at $93.77 on Friday. The stock’s 50-day simple moving average is $117.43 and its 200-day simple moving average is $120.63. NetApp, Inc. has a 52 week low of $91.16 and a 52 week high of $135.45. The company has a market capitalization of $19.07 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.45 and a beta of 1.24. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.22%. NetApp’s payout ratio is 38.52%.

Wall Street Analyst Weigh In

Several analysts recently commented on NTAP shares. Susquehanna lowered NetApp from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $155.00 to $130.00 in a report on Monday, February 10th. TD Cowen cut their price objective on NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, February 28th. Morgan Stanley lifted their price objective on NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research report on Wednesday, February 19th. Finally, Oppenheimer started coverage on NetApp in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $129.07.

Insider Activity

In related news, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the sale, the president now directly owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $124.29, for a total value of $1,056,465.00. Following the completion of the sale, the chief executive officer now owns 279,782 shares in the company, valued at $34,774,104.78. This represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,903 shares of company stock worth $7,260,341 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.

About NetApp

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.