Deutsche Bank AG Grows Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Deutsche Bank AG raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 13.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,112,833 shares of the data storage provider’s stock after acquiring an additional 134,367 shares during the period. Deutsche Bank AG owned approximately 0.55% of NetApp worth $129,178,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in NetApp by 31.4% in the third quarter. Barclays PLC now owns 784,339 shares of the data storage provider’s stock valued at $96,873,000 after purchasing an additional 187,638 shares during the period. Principal Financial Group Inc. grew its holdings in NetApp by 0.5% during the third quarter. Principal Financial Group Inc. now owns 282,467 shares of the data storage provider’s stock worth $34,888,000 after acquiring an additional 1,271 shares during the period. Czech National Bank raised its position in NetApp by 6.0% in the fourth quarter. Czech National Bank now owns 44,401 shares of the data storage provider’s stock worth $5,154,000 after acquiring an additional 2,526 shares in the last quarter. Brookstone Capital Management acquired a new stake in NetApp in the fourth quarter valued at $222,000. Finally, Cooper Financial Group purchased a new stake in shares of NetApp during the 4th quarter worth $207,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on NTAP shares. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Loop Capital decreased their price target on NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Evercore ISI decreased their target price on NetApp from $120.00 to $100.00 and set an “in-line” rating on the stock in a research report on Monday, April 28th. Finally, Wedbush restated a “neutral” rating and issued a $110.00 price target (down previously from $120.00) on shares of NetApp in a research report on Friday, February 28th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $123.07.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 452 shares of the 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 transaction, the executive vice president now directly owns 11,553 shares of the company’s stock, valued at approximately $1,395,024.75. This trade represents a 3.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total value of $1,011,840.00. Following the completion of the transaction, the chief executive officer now owns 266,765 shares in the company, 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. Insiders have sold a total of 37,676 shares of company stock worth $3,586,451 in the last three months. Company insiders own 0.47% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $93.44 on Friday. The company has a market cap of $19.01 billion, a P/E ratio of 17.18, a P/E/G ratio of 2.45 and a beta of 1.40. The business has a fifty day simple moving average of $88.11 and a 200-day simple moving average of $109.09. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, April 4th. NetApp’s dividend payout ratio is currently 38.52%.

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.