Raiffeisen Bank International AG Makes New $8.30 Million Investment in NetApp, Inc. (NASDAQ:NTAP)

Raiffeisen Bank International AG bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 71,230 shares of the data storage provider’s stock, valued at approximately $8,298,000.

Other large investors also recently bought and sold shares of the company. M&T Bank Corp grew its position in NetApp by 4.8% during the 4th quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock worth $1,485,000 after purchasing an additional 581 shares during the last quarter. Versor Investments LP purchased a new stake in NetApp during the 4th quarter worth approximately $395,000. AMJ Financial Wealth Management grew its position in NetApp by 120.7% during the 4th quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider’s stock worth $7,998,000 after purchasing an additional 37,684 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of NetApp by 9.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock valued at $156,268,000 after acquiring an additional 113,360 shares during the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new stake in shares of NetApp in the 4th quarter valued at $5,151,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $99.82 on Friday. The company’s fifty day moving average price is $88.61 and its 200 day moving average price is $108.60. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The company has a market capitalization of $20.30 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Friday, April 4th. NetApp’s payout ratio is 38.52%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. TD Cowen dropped their price objective on shares of NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Susquehanna downgraded shares of NetApp from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $155.00 to $130.00 in a report on Monday, February 10th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $110.00 price objective (down from $120.00) on shares of NetApp in a report on Friday, February 28th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, NetApp presently has an average rating of “Hold” and a consensus target price of $123.07.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the transaction, the chief executive officer now directly owns 266,765 shares of the company’s stock, valued at $31,755,705.60. This trade represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 19,696 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the transaction, the president now directly owns 11,928 shares in the company, valued at approximately $1,075,309.20. The trade was a 62.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,224 shares of company stock valued at $3,531,872 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.

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.