Vontobel Holding Ltd. Has $604,000 Stake in NetApp, Inc. (NASDAQ:NTAP)

Vontobel Holding Ltd. lessened its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,206 shares of the data storage provider’s stock after selling 522 shares during the quarter. Vontobel Holding Ltd.’s holdings in NetApp were worth $604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its position in NetApp by 2.0% during the third quarter. State Street Corp now owns 10,261,170 shares of the data storage provider’s stock valued at $1,267,357,000 after acquiring an additional 199,384 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of NetApp by 8.2% in the third quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock worth $738,280,000 after acquiring an additional 453,324 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of NetApp by 9.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock worth $156,268,000 after acquiring an additional 113,360 shares during the last quarter. KBC Group NV grew its stake in shares of NetApp by 276.9% in the fourth quarter. KBC Group NV now owns 891,033 shares of the data storage provider’s stock worth $103,431,000 after acquiring an additional 654,626 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of NetApp by 31.4% in the third quarter. Barclays PLC now owns 784,339 shares of the data storage provider’s stock worth $96,873,000 after acquiring an additional 187,638 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Insider Activity at NetApp

In related news, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction dated 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. The trade was a 44.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael J. Berry sold 12,500 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total value of $1,509,250.00. Following the transaction, the chief financial officer now owns 123,243 shares of the company’s stock, valued at approximately $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 three months, insiders have sold 52,403 shares of company stock worth $6,248,501. 0.47% of the stock is owned by company insiders.

NetApp Stock Up 3.3 %

Shares of NASDAQ:NTAP opened at $124.53 on Thursday. The stock has a market cap of $25.32 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 2.83 and a beta of 1.23. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 12-month low of $83.80 and a 12-month high of $135.45. The business’s 50 day moving average is $120.01 and its 200 day moving average is $121.82.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. NetApp’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $1.23 earnings per share. On average, sell-side analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Northland Securities raised their price objective on shares of NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Susquehanna downgraded 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 research note on Monday, February 10th. Citigroup lifted their price target on shares of NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $121.00 to $128.00 in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of NetApp from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $138.00.

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.