DekaBank Deutsche Girozentrale Sells 3,484 Shares of NetApp, Inc. (NASDAQ:NTAP)

DekaBank Deutsche Girozentrale decreased its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 353,867 shares of the data storage provider's stock after selling 3,484 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.17% of NetApp worth $30,589,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Assetmark Inc. boosted its stake in NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after buying an additional 215 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in shares of NetApp during the first quarter valued at $29,000. Itau Unibanco Holding S.A. lifted 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 valued at $32,000 after purchasing an additional 251 shares during the last quarter. Coppell Advisory Solutions LLC lifted its holdings in shares of NetApp by 50.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after purchasing an additional 100 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in NetApp in the 4th quarter worth about $36,000. Institutional investors own 92.17% of the company's stock.

Insider Activity at NetApp

In related news, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $101.78, for a total transaction of $865,130.00. Following the completion of the sale, the chief executive officer owned 296,805 shares of the company's stock, valued at $30,208,812.90. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 302 shares of NetApp stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total value of $29,828.54. Following the transaction, the chief accounting officer directly owned 455 shares in the company, valued at approximately $44,940.35. The trade was a 39.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,302 shares of company stock valued at $1,590,514 in the last ninety days. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NTAP has been the subject of several research analyst reports. Wedbush reissued a "neutral" rating and issued a $110.00 price objective on shares of NetApp in a research note on Friday, May 30th. JPMorgan Chase & Co. reduced their price objective on NetApp from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Wells Fargo & Company reduced their price objective on NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. Evercore ISI dropped 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, UBS Group dropped their target price on NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, NetApp currently has a consensus rating of "Hold" and a consensus price target of $117.79.

NetApp Price Performance

Shares of NTAP stock traded down $1.15 on Friday, hitting $105.27. 1,538,114 shares of the company's stock were exchanged, compared to its average volume of 1,914,460. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.25 and a quick ratio of 1.22. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The stock has a market cap of $21.09 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.43 and a beta of 1.42. The company has a 50 day moving average of $101.93 and a 200 day moving average of $103.11.

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

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is 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 36.62%.

NetApp 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.