Raiffeisen Bank International AG Has $7.71 Million Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Key Points

• Raiffeisen Bank International AG increased its stake in NetApp, Inc. by 22.4%, now owning 87,203 shares valued at approximately $7.71 million.
• In the most recent earnings report, NetApp reported an EPS of $1.93, surpassing analyst expectations, and achieved a 3.8% year-over-year revenue increase.
• NetApp announced a quarterly dividend of $0.52, equating to an annualized yield of 2.1%, with a payout ratio of 36.62%.

Raiffeisen Bank International AG raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 22.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,203 shares of the data storage provider's stock after purchasing an additional 15,973 shares during the period. Raiffeisen Bank International AG's holdings in NetApp were worth $7,709,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTAP. Itau Unibanco Holding S.A. increased its holdings in shares of NetApp by 929.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after acquiring an additional 251 shares during the period. Manchester Capital Management LLC increased its stake in NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock valued at $25,000 after buying an additional 225 shares during the period. Coppell Advisory Solutions LLC increased its stake in NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after buying an additional 100 shares during the period. Park Square Financial Group LLC acquired a new position in NetApp during the 4th quarter valued at about $36,000. Finally, Olde Wealth Management LLC acquired a new position in NetApp during the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 92.17% of the company's stock.

Insider Activity

In other news, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $108.08, for a total value of $918,680.00. Following the completion of the sale, the chief executive officer owned 288,305 shares of the company's stock, valued at approximately $31,160,004.40. This represents a 2.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $106.84, for a total value of $106,840.00. Following the transaction, the executive vice president owned 24,251 shares of the company's stock, valued at $2,590,976.84. This represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,302 shares of company stock valued at $1,920,479. 0.28% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley restated a "cautious" rating on shares of NetApp in a research report on Tuesday, May 20th. Evercore ISI decreased their target price on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a report on Monday, April 28th. Wells Fargo & Company decreased their target price on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. JPMorgan Chase & Co. raised their target price on shares of NetApp from $115.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, Citigroup raised their price target on shares of NetApp from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $118.86.

NetApp Trading Up 1.3%

Shares of NASDAQ:NTAP traded up $1.32 during mid-day trading on Wednesday, reaching $103.33. The stock had a trading volume of 1,630,367 shares, compared to its average volume of 1,471,609. The firm has a market cap of $20.70 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 2.35 and a beta of 1.44. The firm has a 50 day simple moving average of $104.36 and a two-hundred day simple moving average of $101.73. 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 twelve month low of $71.84 and a twelve month high of $135.45.

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

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, July 3rd. NetApp's dividend payout ratio is presently 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.