Vontobel Holding Ltd. Grows Holdings in NetApp, Inc. (NASDAQ:NTAP)

Vontobel Holding Ltd. grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 145.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,765 shares of the data storage provider's stock after buying an additional 7,559 shares during the quarter. Vontobel Holding Ltd.'s holdings in NetApp were worth $1,121,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after acquiring an additional 215 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of NetApp by 929.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock valued at $32,000 after purchasing an additional 251 shares in the last quarter. Coppell Advisory Solutions LLC boosted its stake in shares of NetApp by 50.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after purchasing an additional 100 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of NetApp during the fourth quarter valued at approximately $36,000. Finally, OFI Invest Asset Management bought a new position in shares of NetApp during the fourth quarter valued at approximately $39,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Stock Performance

NTAP traded up $0.01 on Monday, reaching $107.27. The stock had a trading volume of 160,637 shares, compared to its average volume of 1,918,997. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.39. The business's 50-day moving average price is $100.28 and its two-hundred day moving average price is $103.54. The company has a market cap of $21.49 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 2.47 and a beta of 1.42.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings data 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. NetApp had a net margin of 18.05% and a return on equity of 126.96%. The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the company earned $1.80 earnings per share. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.94%. NetApp's dividend payout ratio (DPR) is 36.62%.

Insider Activity

In other NetApp news, CAO Lorenzo Daniel De sold 302 shares of NetApp stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total transaction of $29,828.54. Following the transaction, the chief accounting officer directly owned 455 shares of the company's stock, valued at $44,940.35. The trade was a 39.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $101.78, for a total transaction of $865,130.00. Following the transaction, the chief executive officer directly owned 296,805 shares in the company, valued at $30,208,812.90. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,302 shares of company stock worth $1,590,514. Company insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NTAP shares. UBS Group dropped their price objective on shares of NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Barclays increased their price objective on shares of NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. lowered their target price on shares of NetApp from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Morgan Stanley restated a "cautious" rating on shares of NetApp in a research note on Tuesday, May 20th. Finally, Wedbush restated a "neutral" rating and issued a $110.00 target price on shares of NetApp in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, NetApp presently has an average rating of "Hold" and a consensus target price of $117.79.

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.