MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Raises Stock Position in NetApp, Inc. (NASDAQ:NTAP)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 39.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,161 shares of the data storage provider’s stock after purchasing an additional 14,417 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in NetApp were worth $5,960,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Profund Advisors LLC grew its stake in shares of NetApp by 6.8% in the second quarter. Profund Advisors LLC now owns 4,247 shares of the data storage provider’s stock worth $547,000 after acquiring an additional 271 shares in the last quarter. ProShare Advisors LLC grew its stake in NetApp by 6.5% during the 2nd quarter. ProShare Advisors LLC now owns 38,431 shares of the data storage provider’s stock worth $4,950,000 after purchasing an additional 2,349 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in NetApp by 112.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,347 shares of the data storage provider’s stock worth $171,000 after purchasing an additional 713 shares during the period. Public Sector Pension Investment Board raised its position in NetApp by 57.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,897 shares of the data storage provider’s stock valued at $1,017,000 after purchasing an additional 2,879 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of NetApp by 18.4% in the 2nd quarter. Bank of Montreal Can now owns 344,820 shares of the data storage provider’s stock valued at $44,309,000 after buying an additional 53,647 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In other news, Director Thomas Michael Nevens sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $119.23, for a total value of $397,393.59. Following the completion of the sale, the director now directly owns 9,277 shares of the company’s stock, valued at $1,106,096.71. This trade represents a 26.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 326 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $117.44, for a total value of $38,285.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,610 shares of company stock valued at $6,123,351. 0.47% of the stock is owned by company insiders.

NetApp Trading Up 0.2 %

NASDAQ NTAP opened at $126.30 on Friday. NetApp, Inc. has a one year low of $83.80 and a one year high of $135.45. The firm has a market cap of $25.68 billion, a PE ratio of 23.22, a P/E/G ratio of 2.99 and a beta of 1.23. The firm’s fifty day moving average is $121.07 and its two-hundred day moving average is $122.69. 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 (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given a $0.52 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.65%. NetApp’s dividend payout ratio (DPR) is 38.24%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Oppenheimer began coverage on shares of NetApp in a research note on Wednesday, November 13th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. upgraded shares of NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 target price for the company in a research note on Monday, December 16th. Stifel Nicolaus raised their price target on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Bank of America lifted their price target on NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company boosted their target price on NetApp from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $139.20.

NetApp 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.