Deutsche Bank AG Invests $195.20 Million in NetApp, Inc. $NTAP

Key Points

• Deutsche Bank acquired 1.26 million NetApp shares worth approximately $195.2 million during the second quarter, giving it a 0.64% stake. Institutional investors collectively own 92.17% of NetApp.
• NetApp shares opened at $204.71, near their 52-week high of $209.06. Analysts have a consensus “Hold” rating and an average price target of $177.25.
• NetApp’s latest quarterly revenue rose 12.5% year over year to $1.95 billion, exceeding estimates, although adjusted EPS of $2.03 fell short of expectations. Insiders have sold 52,689 shares worth $8.2 million over the past 90 days.

Deutsche Bank AG acquired a new stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,261,326 shares of the data storage provider's stock, valued at approximately $195,203,000. Deutsche Bank AG owned about 0.64% of NetApp as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. West Financial Advisors LLC bought a new stake in NetApp during the second quarter worth approximately $37,000. Park Square Financial Group LLC raised its position in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after purchasing an additional 103 shares during the period. Gen Wealth Partners Inc bought a new position in shares of NetApp in the fourth quarter valued at approximately $30,000. DV Equities LLC acquired a new stake in shares of NetApp in the fourth quarter worth $30,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of NetApp during the 3rd quarter worth $35,000. 92.17% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $193.82, for a total transaction of $193,820.00. Following the sale, the executive vice president directly owned 30,297 shares of the company's stock, valued at $5,872,164.54. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 225 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the transaction, the chief accounting officer owned 1,090 shares in the company, valued at $186,488.10. This represents a 17.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 52,689 shares of company stock valued at $8,224,732. Insiders own 0.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Susquehanna raised their target price on shares of NetApp from $110.00 to $185.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. The Goldman Sachs Group reissued a "buy" rating and set a $200.00 target price on shares of NetApp in a research report on Tuesday, June 2nd. Barclays upped their price target on shares of NetApp from $120.00 to $199.00 and gave the company an "overweight" rating in a report on Friday, May 29th. Northland Securities lifted their price objective on NetApp from $137.00 to $171.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. Finally, Wall Street Zen lowered NetApp from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $177.25.

NetApp Trading Up 0.2%

Shares of NetApp stock opened at $204.71 on Wednesday. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $209.06. The company's fifty day simple moving average is $171.00 and its 200-day simple moving average is $133.13. The company has a market cap of $40.17 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 3.72 and a beta of 1.45. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP - Get Free Report) last released its earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the company earned $1.93 earnings per share. NetApp's revenue for the quarter was up 12.5% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. As a group, sell-side analysts expect that NetApp, Inc. will post 7.3 EPS for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, July 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. NetApp's payout ratio is presently 32.70%.

NetApp Company Profile

NetApp, Inc NASDAQ: NTAP is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp's offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company's product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.

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