Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Stake in NetApp, Inc. (NASDAQ:NTAP)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 15.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 62,496 shares of the data storage provider’s stock after buying an additional 8,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in NetApp were worth $7,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NTAP. Intech Investment Management LLC lifted its stake in shares of NetApp by 8.9% in the 3rd quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock valued at $37,301,000 after purchasing an additional 24,651 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of NetApp by 20.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock valued at $5,225,000 after purchasing an additional 7,318 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of NetApp by 9.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock valued at $156,268,000 after purchasing an additional 113,360 shares during the period. Hilton Capital Management LLC purchased a new position in shares of NetApp in the 3rd quarter valued at approximately $4,059,000. Finally, Orion Portfolio Solutions LLC lifted its stake in shares of NetApp by 232.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider’s stock valued at $831,000 after purchasing an additional 4,705 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Down 0.8 %

NetApp stock opened at $123.50 on Tuesday. The firm has a market cap of $25.11 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 2.45 and a beta of 1.23. The stock has a fifty day simple moving average of $120.06 and a two-hundred day simple moving average of $122.03. NetApp, Inc. has a 12 month low of $86.43 and a 12 month high of $135.45. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O’callahan sold 452 shares of NetApp stock in a transaction on Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the completion of the sale, the executive vice president now owns 11,553 shares of the company’s stock, valued at $1,395,024.75. The trade was a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total value of $1,011,840.00. Following the completion of the sale, the chief executive officer now directly owns 266,765 shares of the company’s stock, valued at $31,755,705.60. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,903 shares of company stock valued at $7,260,341. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NTAP. Wells Fargo & Company lowered their target price on NetApp from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday, February 20th. Northland Securities raised their target price on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. Citigroup raised their price objective on NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Wedbush reaffirmed a “neutral” rating and set a $120.00 price objective on shares of NetApp in a research report on Friday, November 22nd. Finally, TD Cowen raised their price objective on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $137.33.

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.