MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $6.16 Million Position in NetApp, Inc. (NASDAQ:NTAP)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 37.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,158 shares of the data storage provider's stock after acquiring an additional 18,997 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in NetApp were worth $6,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Assetmark Inc. increased its position in NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after buying an additional 215 shares during the last quarter. Synergy Investment Management LLC acquired a new position in NetApp during the fourth quarter worth $32,000. Itau Unibanco Holding S.A. increased its position in 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 buying an additional 251 shares during the last quarter. Coppell Advisory Solutions LLC increased its position in NetApp by 50.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock worth $35,000 after buying an additional 100 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new position in NetApp during the fourth quarter worth $36,000. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Price Performance

NTAP traded down $2.45 during midday trading on Friday, reaching $100.49. 3,515,887 shares of the company's stock were exchanged, compared to its average volume of 1,937,269. The firm has a market capitalization of $20.13 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 2.45 and a beta of 1.42. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The business has a 50-day simple moving average of $93.75 and a two-hundred day simple moving average of $105.63.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.80 earnings per share. As a group, research analysts predict that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, July 3rd. NetApp's dividend payout ratio is 36.62%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NTAP. Wall Street Zen downgraded NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. TD Cowen lowered their price target on NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Wedbush reaffirmed a "neutral" rating and issued a $110.00 price target on shares of NetApp in a research report on Friday, May 30th. Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company lowered their price target on NetApp from $115.00 to $100.00 and set an "equal weight" 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 given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, NetApp presently has a consensus rating of "Hold" and an average target price of $117.79.

Insiders Place Their Bets

In other news, Director Anders Gustafsson bought 2,800 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was bought at an average price of $91.00 per share, for a total transaction of $254,800.00. Following the completion of the purchase, the director now owns 6,348 shares of the company's stock, valued at approximately $577,668. The trade was a 78.92% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $29,828.54. Following the completion of the transaction, the chief accounting officer now owns 455 shares of the company's stock, valued at $44,940.35. This trade represents a 39.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,498 shares of company stock worth $2,500,978 over the last quarter. Company insiders own 0.47% of the company's stock.

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.