Czech National Bank Purchases 2,526 Shares of NetApp, Inc. (NASDAQ:NTAP)

Czech National Bank boosted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,401 shares of the data storage provider’s stock after buying an additional 2,526 shares during the quarter. Czech National Bank’s holdings in NetApp were worth $5,154,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in shares of NetApp by 7.4% during the second quarter. Parallel Advisors LLC now owns 2,917 shares of the data storage provider’s stock valued at $376,000 after acquiring an additional 202 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in NetApp by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,737,578 shares of the data storage provider’s stock valued at $223,806,000 after purchasing an additional 196,952 shares during the period. Edgestream Partners L.P. raised its position in NetApp by 184.9% during the 2nd quarter. Edgestream Partners L.P. now owns 23,617 shares of the data storage provider’s stock worth $3,042,000 after purchasing an additional 15,326 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in NetApp by 28.8% during the 2nd quarter. Mutual of America Capital Management LLC now owns 44,418 shares of the data storage provider’s stock worth $5,721,000 after buying an additional 9,919 shares during the period. Finally, Wealth Alliance bought a new stake in shares of NetApp in the 2nd quarter valued at about $344,000. Institutional investors own 92.17% of the company’s stock.

Insider Transactions at NetApp

In related news, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the sale, the president now owns 27,099 shares in the company, valued at approximately $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 accessible through this link. Also, EVP Elizabeth M. O’callahan sold 451 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the completion of the transaction, the executive vice president now owns 12,005 shares in the company, valued at approximately $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. Insiders sold a total of 51,610 shares of company stock worth $6,149,531 in the last quarter. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NTAP has been the topic of a number of recent analyst reports. TD Cowen lifted their price objective on NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Barclays boosted their price target on shares of NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Bank of America increased their price objective on shares of NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upgraded shares of NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 target price on the stock in a report on Monday, December 16th. Finally, Morgan Stanley increased their price target on NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and a consensus price target of $139.20.

NetApp Price Performance

Shares of NTAP opened at $119.36 on Thursday. The business’s fifty day moving average is $121.02 and its 200 day moving average is $122.97. NetApp, Inc. has a 12-month low of $83.80 and a 12-month 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 $24.27 billion, a P/E ratio of 21.94, a P/E/G ratio of 2.92 and a beta of 1.23.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the company earned $1.23 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that NetApp, Inc. will post 5.83 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Friday, January 3rd. NetApp’s payout ratio is currently 38.24%.

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.