NetApp, Inc. (NASDAQ:NTAP) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 13.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,112,833 shares of the data storage provider's stock after buying an additional 134,367 shares during the quarter. Deutsche Bank AG owned approximately 0.55% of NetApp worth $129,178,000 as of its most recent SEC filing.

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

Insider Activity

In other NetApp news, Director Anders Gustafsson bought 2,800 shares of the company's stock in a transaction on Thursday, March 27th. The stock was purchased at an average cost of $91.00 per share, for a total transaction of $254,800.00. Following the acquisition, the director now owns 6,348 shares of the company's stock, valued at $577,668. The trade was a 78.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $81.83, for a total transaction of $695,555.00. Following the transaction, the chief executive officer now owns 249,765 shares of the company's stock, valued at $20,438,269.95. This trade represents a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,224 shares of company stock worth $3,531,872. Corporate insiders own 0.47% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on NTAP shares. Wedbush reaffirmed a "neutral" rating and issued a $110.00 price target (down previously from $120.00) on shares of NetApp in a report on Friday, February 28th. Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and increased their target price for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Barclays raised NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 target price on the stock in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a research note on Wednesday, February 19th. Finally, Loop Capital reduced their target price on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $123.07.

NetApp Trading Up 0.1%

Shares of NetApp stock traded up $0.12 on Wednesday, reaching $99.65. The company had a trading volume of 1,839,794 shares, compared to its average volume of 1,922,571. The firm's 50 day moving average price is $88.34 and its two-hundred day moving average price is $108.81. The firm has a market cap of $20.27 billion, a PE ratio of 18.32, a PEG ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Friday, April 4th. NetApp's dividend payout ratio (DPR) is presently 38.52%.

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.