Baader Bank Aktiengesellschaft Grows Stock Position in NetApp, Inc. $NTAP

Baader Bank Aktiengesellschaft raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 36.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,294 shares of the data storage provider’s stock after acquiring an additional 1,424 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in NetApp were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. 1248 Management LLC purchased a new position in shares of NetApp during the 1st quarter worth approximately $25,000. Manchester Capital Management LLC grew its holdings 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 last quarter. Park Square Financial Group LLC acquired a new stake in NetApp during the 4th quarter valued at $36,000. Olde Wealth Management LLC purchased a new position in NetApp during the first quarter worth $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of NetApp by 54.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 124 shares during the last quarter. 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 firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $108.85, for a total value of $925,225.00. Following the transaction, the chief executive officer directly owned 283,688 shares in the company, valued at $30,879,438.80. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total value of $123,670.00. Following the completion of the transaction, the executive vice president directly owned 23,628 shares in the company, valued at $2,922,074.76. This represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock valued at $2,180,315 over the last 90 days. 0.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NTAP shares. JPMorgan Chase & Co. increased their price objective on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Argus reiterated a “buy” rating and set a $130.00 price target on shares of NetApp in a report on Friday, August 29th. Morgan Stanley set a $117.00 price objective on shares of NetApp in a research note on Thursday, August 28th. Northland Securities raised their target price on shares of NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Finally, UBS Group boosted their price target on NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, NetApp currently has a consensus rating of “Hold” and a consensus price target of $124.07.

NetApp Stock Performance

NASDAQ:NTAP opened at $126.36 on Friday. The company has a market cap of $25.22 billion, a P/E ratio of 22.33, a P/E/G ratio of 2.69 and a beta of 1.46. The firm’s 50 day moving average is $110.97 and its two-hundred day moving average is $100.50. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, October 3rd. 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.