NetApp, Inc. $NTAP Shares Purchased by Edmond DE Rothschild Holding S.A.

Key Points

• Edmond DE Rothschild Holding S.A. increased its stake in NetApp, Inc. by 17.7%, purchasing an additional 122,784 shares and now owns 814,697 shares, valued at approximately $71.56 million.
• Several institutional investors, including Pacer Advisors Inc. and Clark Capital Management Group Inc., have significantly increased their holdings in NetApp, showcasing heightened institutional interest in the company.
• NetApp has recently declared a quarterly dividend of $0.52 per share, with a dividend yield of 1.8%, indicating a stable return for investors.

Edmond DE Rothschild Holding S.A. boosted its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 17.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 814,697 shares of the data storage provider's stock after buying an additional 122,784 shares during the quarter. NetApp makes up approximately 1.3% of Edmond DE Rothschild Holding S.A.'s portfolio, making the stock its 14th largest holding. Edmond DE Rothschild Holding S.A. owned approximately 0.40% of NetApp worth $71,563,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Horizon Investments LLC boosted its stake in NetApp by 3.8% in the first quarter. Horizon Investments LLC now owns 2,919 shares of the data storage provider's stock valued at $255,000 after acquiring an additional 107 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted 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 acquiring an additional 124 shares in the last quarter. Hohimer Wealth Management LLC boosted its stake in NetApp by 0.4% in the first quarter. Hohimer Wealth Management LLC now owns 29,694 shares of the data storage provider's stock valued at $2,608,000 after acquiring an additional 131 shares in the last quarter. Brooklyn Investment Group boosted its stake in NetApp by 25.6% in the first quarter. Brooklyn Investment Group now owns 902 shares of the data storage provider's stock valued at $79,000 after acquiring an additional 184 shares in the last quarter. Finally, Empirical Finance LLC boosted its stake in NetApp by 3.1% in the first quarter. Empirical Finance LLC now owns 7,507 shares of the data storage provider's stock valued at $659,000 after acquiring an additional 223 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NetApp

In other news, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $108.85, for a total transaction of $925,225.00. Following the completion of the transaction, the chief executive officer directly owned 283,688 shares of the company's stock, valued at $30,879,438.80. This trade represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 23,251 shares in the company, valued at approximately $2,462,280.90. This represents a 4.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,500 shares of company stock worth $2,921,775 in the last three months. Corporate insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Morgan Stanley set a $117.00 price target on NetApp in a research report on Thursday, August 28th. Citigroup boosted their price target on NetApp from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. UBS Group boosted their price target on NetApp from $108.00 to $114.00 and gave the company a "neutral" rating in a research report on Thursday, August 28th. Finally, Barclays boosted their price target on NetApp from $117.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $124.07.

NetApp Stock Performance

NASDAQ NTAP traded up $2.42 during trading hours on Monday, hitting $121.17. 3,018,213 shares of the stock were exchanged, compared to its average volume of 2,062,379. The company has a market cap of $24.19 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 2.58 and a beta of 1.46. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The stock has a 50-day moving average of $107.89 and a 200 day moving average of $99.77. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. NetApp's payout ratio is 36.75%.

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.