Deutsche Bank AG Increases Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Deutsche Bank AG grew its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,169,538 shares of the data storage provider's stock after purchasing an additional 56,705 shares during the period. Deutsche Bank AG owned approximately 0.57% of NetApp worth $102,732,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of NetApp by 39.6% in the first quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider's stock valued at $3,250,000 after acquiring an additional 10,494 shares in the last quarter. Achmea Investment Management B.V. raised its stake in shares of NetApp by 55.8% in the first quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider's stock valued at $19,492,000 after acquiring an additional 79,457 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new stake in shares of NetApp in the first quarter valued at $321,000. UNICOM Systems Inc. acquired a new stake in shares of NetApp in the first quarter valued at $13,483,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of NetApp in the first quarter valued at $2,050,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $105.90, for a total value of $105,900.00. Following the sale, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $101.78, for a total value of $865,130.00. Following the completion of the sale, the chief executive officer directly owned 296,805 shares in the company, valued at $30,208,812.90. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,302 shares of company stock valued at $2,026,379 over the last quarter. 0.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group reduced their price objective on NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Evercore ISI cut their price target on NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a research note on Monday, April 28th. Morgan Stanley restated a "cautious" rating on shares of NetApp in a research note on Tuesday, May 20th. Barclays raised their price target on NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Finally, Wedbush restated a "neutral" rating and issued a $110.00 price target on shares of NetApp in a research note on Friday, May 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $119.21.

NetApp Stock Performance

Shares of NASDAQ NTAP traded down $0.64 during midday trading on Friday, reaching $108.92. 357,839 shares of the company were exchanged, compared to its average volume of 2,022,024. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.39. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The stock has a fifty day simple moving average of $105.12 and a 200 day simple moving average of $101.04. The stock has a market cap of $21.82 billion, a P/E ratio of 19.18, a PEG ratio of 2.52 and a beta of 1.44.

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

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were issued 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 1.9%. NetApp's dividend payout ratio (DPR) is currently 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.