Mirae Asset Global Investments Co. Ltd. Has $4.29 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,354 shares of the data storage provider’s stock after selling 626 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NetApp were worth $4,286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NTAP. Lake Street Advisors Group LLC grew its position in shares of NetApp by 14.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,992 shares of the data storage provider’s stock valued at $246,000 after buying an additional 249 shares during the last quarter. Ballentine Partners LLC boosted its holdings in NetApp by 4.5% in the third quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider’s stock valued at $340,000 after acquiring an additional 118 shares during the last quarter. Assenagon Asset Management S.A. increased its position in NetApp by 1.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 27,091 shares of the data storage provider’s stock valued at $3,346,000 after purchasing an additional 474 shares during the period. Axecap Investments LLC bought a new position in NetApp during the 3rd quarter worth approximately $1,049,000. Finally, Greenleaf Trust lifted its position in shares of NetApp by 7.2% in the 3rd quarter. Greenleaf Trust now owns 5,928 shares of the data storage provider’s stock worth $732,000 after purchasing an additional 396 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $121.24 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. The stock has a market cap of $24.83 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 4.48 and a beta of 1.23. The stock’s fifty day simple moving average is $122.72 and its two-hundred day simple moving average is $120.43. NetApp, Inc. has a 1-year low of $70.82 and a 1-year high of $135.01.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the firm earned $0.84 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. As a group, analysts forecast that NetApp, Inc. will post 5.71 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Friday, October 4th. NetApp’s dividend payout ratio is presently 40.63%.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 705 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the transaction, the executive vice president now owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $126.11, for a total transaction of $1,071,935.00. Following the completion of the sale, the chief executive officer now owns 292,778 shares in the company, valued at $36,922,233.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction of $88,971.00. Following the completion of the sale, the executive vice president now directly owns 11,694 shares in the company, valued at $1,475,782.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,890 shares of company stock valued at $1,369,172. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NTAP. Loop Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Citigroup increased their price target on NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Wedbush reissued a “neutral” rating and issued a $120.00 price objective on shares of NetApp in a research note on Monday, August 26th. Evercore ISI raised their target price on NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a research note on Monday, August 12th. Finally, Susquehanna reissued a “positive” rating and issued a $155.00 price target on shares of NetApp in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $129.06.

NetApp Company 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.