denkapparat Operations GmbH Buys Shares of 2,026 NetApp, Inc. (NASDAQ:NTAP)

denkapparat Operations GmbH acquired a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,026 shares of the data storage provider’s stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTAP. M&T Bank Corp boosted its position in NetApp by 4.8% in the fourth quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock worth $1,485,000 after purchasing an additional 581 shares during the last quarter. Versor Investments LP bought a new position in shares of NetApp in the 4th quarter worth approximately $395,000. AMJ Financial Wealth Management boosted its holdings in shares of NetApp by 120.7% in the fourth quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider’s stock worth $7,998,000 after buying an additional 37,684 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in NetApp by 9.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock valued at $156,268,000 after buying an additional 113,360 shares during the period. Finally, Orion Portfolio Solutions LLC increased its holdings in NetApp by 232.2% during the third quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider’s stock valued at $831,000 after buying an additional 4,705 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Trading Down 3.0 %

Shares of NetApp stock opened at $88.40 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The firm has a market cap of $17.98 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a twelve month low of $88.14 and a twelve month high of $135.45. The business has a 50-day moving average price of $109.82 and a 200-day moving average price of $117.23.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Friday, April 4th. NetApp’s payout ratio is 38.52%.

Insider Transactions at NetApp

In other news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 451 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the sale, the executive vice president now owns 12,005 shares in the company, valued at $1,402,063.95. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,931 shares of company stock valued at $6,252,759 in the last ninety days. Corporate insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NTAP shares. Susquehanna downgraded shares of NetApp from a “positive” rating to a “neutral” rating and cut their price objective for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Barclays decreased their price objective on NetApp from $132.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Finally, Wedbush restated a “neutral” rating and set a $110.00 target price (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $129.07.

About NetApp

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.