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

Deutsche Bank AG grew its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 13.7% during the fourth quarter, HoldingsChannel reports. The firm owned 1,112,833 shares of the data storage provider’s stock after buying an additional 134,367 shares during the period. Deutsche Bank AG’s holdings in NetApp were worth $129,178,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in NetApp in the 4th quarter worth approximately $26,000. Assetmark Inc. lifted its position in shares of NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 215 shares in the last quarter. Synergy Investment Management LLC purchased a new position in shares of NetApp in the fourth quarter valued at $32,000. Itau Unibanco Holding S.A. increased its stake in NetApp by 929.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider’s stock worth $32,000 after buying an additional 251 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in NetApp in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $93.44 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The firm has a market capitalization of $19.01 billion, a PE ratio of 17.18, a P/E/G ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The business’s fifty day moving average price is $88.11 and its two-hundred day moving average price is $109.09.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.23%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of analyst reports. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and increased their price target for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research note on Wednesday, February 19th. TD Cowen dropped their price target on shares of NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Loop Capital cut their target price on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Susquehanna downgraded NetApp from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $155.00 to $130.00 in a research note on Monday, February 10th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, NetApp currently has an average rating of “Hold” and a consensus price target of $123.07.

Insider Activity at NetApp

In related news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 266,765 shares of the company’s stock, valued at $31,755,705.60. This represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 452 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $120.75, for a total transaction of $54,579.00. Following the transaction, the executive vice president now directly owns 11,553 shares in the company, valued at approximately $1,395,024.75. The trade was a 3.77 % 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 ninety days. 0.47% of the stock is owned by insiders.

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.