Edmond DE Rothschild Holding S.A. Increases Position in NetApp, Inc. (NASDAQ:NTAP)

Edmond DE Rothschild Holding S.A. increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 691,913 shares of the data storage provider's stock after buying an additional 8,604 shares during the quarter. NetApp accounts for 1.4% of Edmond DE Rothschild Holding S.A.'s investment portfolio, making the stock its 13th largest holding. Edmond DE Rothschild Holding S.A. owned 0.34% of NetApp worth $80,317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in shares of NetApp by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 17,461 shares of the data storage provider's stock valued at $2,027,000 after purchasing an additional 2,463 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in NetApp in the 4th quarter valued at about $2,502,000. Brandywine Global Investment Management LLC bought a new position in shares of NetApp during the 4th quarter worth approximately $5,151,000. Schroder Investment Management Group boosted its stake in shares of NetApp by 28.9% in the 4th quarter. Schroder Investment Management Group now owns 940,475 shares of the data storage provider's stock worth $109,556,000 after buying an additional 210,746 shares during the last quarter. Finally, Allianz SE bought a new position in shares of NetApp in the fourth quarter valued at approximately $1,877,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of recent analyst reports. Wedbush reiterated a "neutral" rating and set a $110.00 price target (down from $120.00) on shares of NetApp in a report on Friday, February 28th. Morgan Stanley boosted their price target on shares of NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 17th. TD Cowen decreased their price objective on shares of NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 28th. Susquehanna lowered shares of NetApp from a "positive" rating to a "neutral" rating and lowered their price objective for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. Finally, Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and increased their target price for the company from $121.00 to $128.00 in a research report on Wednesday, February 19th. 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, the company currently has a consensus rating of "Hold" and an average price target of $129.07.

NetApp Price Performance

NASDAQ NTAP traded down $8.85 during trading hours on Thursday, hitting $81.64. The company had a trading volume of 2,138,427 shares, compared to its average volume of 1,863,481. The firm has a 50 day simple moving average of $107.74 and a 200 day simple moving average of $116.68. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. NetApp, Inc. has a 52 week low of $81.65 and a 52 week high of $135.45. The firm has a market capitalization of $16.61 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 2.45 and a beta of 1.31.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.55%. NetApp's dividend payout ratio (DPR) is presently 38.52%.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $123.03, for a total transaction of $1,045,755.00. Following the transaction, the chief executive officer now directly owns 271,282 shares in the company, valued at approximately $33,375,824.46. This represents a 3.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O'callahan sold 451 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,627 shares of company stock valued at $5,498,573. 0.47% of the stock is owned by corporate insiders.

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.