Allianz Asset Management GmbH Buys 210,207 Shares of NetApp, Inc. (NASDAQ:NTAP)

Allianz Asset Management GmbH grew its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 11.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,014,237 shares of the data storage provider's stock after acquiring an additional 210,207 shares during the quarter. Allianz Asset Management GmbH owned 0.99% of NetApp worth $176,931,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. increased its holdings in shares of NetApp by 929.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after purchasing an additional 251 shares during the period. Coppell Advisory Solutions LLC lifted its position in shares of NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after acquiring an additional 100 shares during the period. Park Square Financial Group LLC bought a new position in shares of NetApp in the fourth quarter worth $36,000. Olde Wealth Management LLC bought a new position in shares of NetApp in the first quarter worth $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in NetApp by 54.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider's stock valued at $31,000 after purchasing an additional 124 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Lorenzo Daniel De sold 302 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $98.77, for a total transaction of $29,828.54. Following the transaction, the chief accounting officer directly owned 455 shares of the company's stock, valued at $44,940.35. This represents a 39.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $106.84, for a total value of $106,840.00. Following the completion of the transaction, the executive vice president owned 24,251 shares in the company, valued at approximately $2,590,976.84. This represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,302 shares of company stock worth $1,920,479 in the last three months. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NTAP shares. Wells Fargo & Company decreased their target price on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Wedbush restated a "neutral" rating and set a $110.00 price objective on shares of NetApp in a research report on Friday, May 30th. Citigroup raised their target price on NetApp from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Monday, June 2nd. UBS Group lowered their price target on NetApp from $115.00 to $108.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $118.86.

NetApp Trading Down 0.6%

NetApp stock traded down $0.61 during trading hours on Thursday, reaching $105.27. 400,027 shares of the company's stock were exchanged, compared to its average volume of 2,098,047. The firm's 50 day simple moving average is $103.58 and its 200 day simple moving average is $102.70. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The firm has a market capitalization of $21.09 billion, a PE ratio of 18.53, a PEG ratio of 2.42 and a beta of 1.42. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 2.39.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. NetApp had a net margin of 18.05% and a return on equity of 126.96%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the firm posted $1.80 EPS. The company's quarterly revenue was up 3.8% on a year-over-year basis. Research analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.98%. NetApp's dividend payout ratio (DPR) is presently 36.62%.

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.