Edmond DE Rothschild Holding S.A. Buys 8,604 Shares of NetApp, Inc. (NASDAQ:NTAP)

Edmond DE Rothschild Holding S.A. boosted its stake in NetApp, Inc. (NASDAQ:NTAP) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 691,913 shares of the data storage provider’s stock after purchasing an additional 8,604 shares during the quarter. NetApp makes up 1.4% of Edmond DE Rothschild Holding S.A.’s investment portfolio, making the stock its 13th largest position. Edmond DE Rothschild Holding S.A.’s holdings in NetApp were worth $80,317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP lifted 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 worth $2,027,000 after buying an additional 2,463 shares in the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in NetApp during the 4th quarter worth approximately $2,502,000. Brandywine Global Investment Management LLC purchased a new stake in NetApp in the 4th quarter worth approximately $5,151,000. Schroder Investment Management Group lifted its stake in 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 purchasing an additional 210,746 shares in the last quarter. Finally, Allianz SE bought a new position in NetApp in the 4th quarter valued at $1,877,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

NTAP opened at $88.40 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $109.82 and its 200 day simple moving average is $117.26. 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 1 year low of $86.95 and a 1 year high of $135.45.

NetApp Dividend Announcement

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

Analysts Set New Price Targets

NTAP has been the topic of several research analyst reports. Susquehanna cut shares of NetApp from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Citigroup decreased their target price on NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. TD Cowen dropped their price target on NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Morgan Stanley upped their price objective on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating for the company 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $129.07.

Insider Activity at NetApp

In other news, CFO Michael J. Berry sold 12,500 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the completion of the transaction, the chief financial officer now directly owns 123,243 shares of the company’s stock, valued at approximately $14,880,359.82. This represents a 9.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the chief executive officer now owns 271,282 shares of the company’s stock, valued at approximately $33,375,824.46. This represents a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,931 shares of company stock worth $3,722,979 in the last three months. 0.47% of the stock is owned by 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.