Czech National Bank Has $5.30 Million Position in NetApp, Inc. $NTAP

Czech National Bank raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,721 shares of the data storage provider’s stock after buying an additional 3,025 shares during the quarter. Czech National Bank’s holdings in NetApp were worth $5,298,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Manchester Capital Management LLC grew its position in shares of NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after buying an additional 225 shares during the period. 1248 Management LLC bought a new position in shares of NetApp during the 1st quarter valued at about $25,000. Olde Wealth Management LLC bought a new position in shares of NetApp during the 1st quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of NetApp by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 124 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of NetApp during the 4th quarter valued at about $36,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Trading Up 2.0%

NTAP stock opened at $126.36 on Friday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. The company has a fifty day moving average price of $110.97 and a two-hundred day moving average price of $100.50. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The stock has a market cap of $25.22 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 2.69 and a beta of 1.46.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.08 annualized dividend and a yield of 1.6%. NetApp’s dividend payout ratio (DPR) is presently 36.75%.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total transaction of $123,670.00. Following the transaction, the executive vice president owned 23,628 shares in the company, valued at $2,922,074.76. This trade represents a 4.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $108.08, for a total value of $918,680.00. Following the transaction, the chief executive officer owned 288,305 shares in the company, valued at $31,160,004.40. The trade was a 2.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,000 shares of company stock worth $2,180,315 in the last quarter. Company insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

NTAP has been the topic of several recent analyst reports. Bank of America lifted their price objective on NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Wells Fargo & Company cut their price objective on NetApp from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, May 30th. Morgan Stanley set a $117.00 price objective on NetApp in a report on Thursday, August 28th. JPMorgan Chase & Co. lifted their price objective on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Finally, Barclays boosted their target price on NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and a consensus target price of $124.07.

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.