NetApp, Inc. (NASDAQ:NTAP) Shares Purchased by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG grew its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,335 shares of the data storage provider's stock after purchasing an additional 6,135 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in NetApp were worth $3,173,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NTAP. M&T Bank Corp lifted its holdings in shares of NetApp by 4.8% in the 4th quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider's stock valued at $1,485,000 after acquiring an additional 581 shares during the last quarter. Versor Investments LP bought a new stake in shares of NetApp in the 4th quarter valued at approximately $395,000. AMJ Financial Wealth Management boosted its holdings in shares of NetApp by 120.7% in the 4th quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider's stock worth $7,998,000 after purchasing an additional 37,684 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of NetApp by 9.2% during the 4th 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 purchasing an additional 113,360 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in NetApp by 232.2% during the 3rd 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 period. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NTAP. StockNews.com cut shares of NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Loop Capital reduced their price objective on shares of NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Barclays dropped their target price on NetApp from $132.00 to $115.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Susquehanna downgraded NetApp from a "positive" rating to a "neutral" rating and reduced their price target for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Finally, TD Cowen dropped their price objective on NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $129.07.

Insiders Place Their Bets

In other news, President Cesar Cernuda sold 19,696 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the sale, the president now owns 11,928 shares in the company, valued at approximately $1,075,309.20. This represents a 62.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $123.03, for a total value of $1,045,755.00. Following the transaction, the chief executive officer now owns 271,282 shares in the company, valued at approximately $33,375,824.46. This trade represents a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,627 shares of company stock worth $5,498,573. 0.47% of the stock is owned by corporate insiders.

NetApp Stock Down 6.8 %

NASDAQ NTAP traded down $5.51 during midday trading on Friday, hitting $76.10. 3,381,917 shares of the company traded hands, compared to its average volume of 1,873,957. NetApp, Inc. has a 52 week low of $74.83 and a 52 week high of $135.45. The company's 50-day simple moving average is $105.85 and its 200-day simple moving average is $116.12. The company has a market cap of $15.48 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.73%. NetApp's dividend payout ratio (DPR) is presently 38.52%.

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.