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

denkapparat Operations GmbH bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the fourth quarter, HoldingsChannel.com reports. The fund bought 2,026 shares of the data storage provider’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in NetApp by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider’s stock worth $3,069,617,000 after acquiring an additional 429,343 shares in the last quarter. State Street Corp grew its stake in NetApp by 2.0% in the third quarter. State Street Corp now owns 10,261,170 shares of the data storage provider’s stock worth $1,267,357,000 after purchasing an additional 199,384 shares in the last quarter. Geode Capital Management LLC increased its holdings in NetApp by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock worth $738,280,000 after purchasing an additional 453,324 shares during the period. Norges Bank bought a new stake in NetApp during the 4th quarter valued at $306,440,000. Finally, Boston Partners lifted its holdings in shares of NetApp by 53.9% in the 4th quarter. Boston Partners now owns 2,083,189 shares of the data storage provider’s stock worth $241,867,000 after buying an additional 729,394 shares during the period. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Stock Down 3.0 %

Shares of NASDAQ:NTAP opened at $88.40 on Friday. The business has a fifty day moving average of $109.82 and a two-hundred day moving average of $117.23. NetApp, Inc. has a 52-week low of $88.14 and a 52-week high of $135.45. 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 stock has a market cap of $17.98 billion, a P/E ratio of 16.25, a PEG ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

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

Insider Buying and Selling

In other news, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now directly owns 27,099 shares in the company, valued at $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael J. Berry sold 12,500 shares of NetApp stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total value of $1,509,250.00. Following the completion of the sale, the chief financial officer now directly owns 123,243 shares of the company’s stock, valued at $14,880,359.82. The trade was a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,931 shares of company stock valued at $6,252,759. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NTAP. Loop Capital dropped their target price on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Keefe, Bruyette & Woods raised shares of NetApp to an “outperform” rating in a report on Wednesday, February 19th. Citigroup lowered their target price on NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Bank of America upgraded NetApp from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Finally, StockNews.com lowered NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.