Deutsche Bank AG Makes New Investment in NetApp, Inc. $NTAP

Deutsche Bank AG purchased a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,261,326 shares of the data storage provider’s stock, valued at approximately $195,203,000.

A number of other hedge funds also recently made changes to their positions in NTAP. Perigon Wealth Management LLC acquired a new stake in shares of NetApp during the 2nd quarter valued at about $1,027,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in NetApp in the second quarter worth about $78,317,000. Plato Investment Management Ltd acquired a new position in NetApp in the second quarter worth about $1,571,000. Bell Investment Advisors Inc bought a new position in NetApp during the second quarter worth about $55,000. Finally, Simplicity Wealth LLC bought a new position in NetApp during the second quarter worth about $202,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

NTAP has been the topic of several analyst reports. Argus upped their price objective on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Wells Fargo & Company raised their target price on NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Wedbush boosted their price target on NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. The Goldman Sachs Group reiterated a “buy” rating and issued a $200.00 price target on shares of NetApp in a research report on Tuesday, June 2nd. Finally, Wall Street Zen lowered NetApp from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 29th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $177.25.

NetApp Price Performance

NASDAQ:NTAP opened at $204.71 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. The firm has a market cap of $40.17 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 3.72 and a beta of 1.45. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $209.06. The company’s 50-day moving average price is $171.00 and its two-hundred day moving average price is $133.13.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.24). The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. On average, equities analysts anticipate that NetApp, Inc. will post 7.3 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were given a dividend of $0.52 per share. The ex-dividend date was Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. NetApp’s dividend payout ratio is 32.70%.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $193.82, for a total transaction of $193,820.00. Following the completion of the sale, the executive vice president directly owned 30,297 shares of the company’s stock, valued at $5,872,164.54. This trade represents a 3.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 225 shares of NetApp stock in a transaction on Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $186,488.10. The trade was a 17.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 52,689 shares of company stock worth $8,224,732 in the last three months. Insiders own 0.36% of the company’s stock.

NetApp Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.