Edmond DE Rothschild Holding S.A. Purchases 122,784 Shares of NetApp, Inc. $NTAP

Edmond DE Rothschild Holding S.A. increased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 17.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 814,697 shares of the data storage provider’s stock after purchasing an additional 122,784 shares during the period. NetApp accounts for 1.3% of Edmond DE Rothschild Holding S.A.’s portfolio, making the stock its 14th largest holding. Edmond DE Rothschild Holding S.A. owned 0.40% of NetApp worth $71,563,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in NetApp by 4,687.6% during the first quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider’s stock valued at $93,874,000 after acquiring an additional 1,046,372 shares in the last quarter. Clark Capital Management Group Inc. grew its stake in NetApp by 5,858.0% during the fourth quarter. Clark Capital Management Group Inc. now owns 895,435 shares of the data storage provider’s stock valued at $103,942,000 after acquiring an additional 880,406 shares in the last quarter. Vanguard Group Inc. grew its stake in NetApp by 2.3% during the first quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock valued at $2,375,363,000 after acquiring an additional 597,956 shares in the last quarter. Federated Hermes Inc. grew its stake in NetApp by 97.7% during the first quarter. Federated Hermes Inc. now owns 1,096,236 shares of the data storage provider’s stock valued at $96,293,000 after acquiring an additional 541,837 shares in the last quarter. Finally, Nuveen LLC purchased a new position in NetApp during the first quarter valued at $46,096,000. 92.17% of the stock is currently owned by institutional investors.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $105.90, for a total transaction of $105,900.00. Following the completion of the transaction, the executive vice president directly owned 23,251 shares of the company’s stock, valued at approximately $2,462,280.90. The trade was a 4.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $101.78, for a total transaction of $865,130.00. Following the sale, the chief executive officer owned 296,805 shares of the company’s stock, valued at $30,208,812.90. The trade was a 2.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,500 shares of company stock valued at $2,921,775. 0.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on NTAP. Morgan Stanley set a $117.00 target price on shares of NetApp in a research note on Thursday, August 28th. Bank of America lifted their price objective on shares of NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, August 25th. Barclays lifted their price objective on shares of NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. UBS Group lifted their price objective on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Finally, Argus reissued a “buy” rating and issued a $130.00 price objective on shares of NetApp in a research note on Friday, August 29th. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $124.07.

NetApp Price Performance

NTAP stock opened at $116.47 on Thursday. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 2.55. The company has a 50-day moving average price of $107.35 and a 200 day moving average price of $100.13. The stock has a market cap of $23.25 billion, a PE ratio of 20.58, a P/E/G ratio of 2.48 and a beta of 1.46.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. NetApp’s payout ratio is currently 36.75%.

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.