NetApp, Inc. (NASDAQ:NTAP) Stock Holdings Trimmed by Gallacher Capital Management LLC

Gallacher Capital Management LLC decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 45.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,902 shares of the data storage provider’s stock after selling 3,196 shares during the quarter. Gallacher Capital Management LLC’s holdings in NetApp were worth $344,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. ORG Partners LLC grew its position in NetApp by 14,650.0% in the 4th quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock valued at $26,000 after buying an additional 293 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of NetApp in the 3rd quarter worth approximately $27,000. First Horizon Advisors Inc. boosted its holdings in shares of NetApp by 58.7% in the fourth quarter. First Horizon Advisors Inc. now owns 311 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 115 shares in the last quarter. UMB Bank n.a. increased its stake in shares of NetApp by 82.9% during the fourth quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 150 shares during the period. Finally, Planned Solutions Inc. bought a new stake in NetApp during the fourth quarter worth approximately $34,000. Institutional investors own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wedbush lifted their price target on NetApp from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Stifel Nicolaus reissued a “buy” rating and issued a $120.00 price target (up from $105.00) on shares of NetApp in a report on Friday, March 1st. Citigroup raised their price objective on shares of NetApp from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. UBS Group boosted their target price on shares of NetApp from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of NetApp from $87.00 to $95.00 and gave the stock an “underweight” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and a consensus target price of $100.60.

NetApp Stock Up 3.2 %

Shares of NASDAQ:NTAP traded up $3.31 during trading on Monday, reaching $107.95. 2,445,111 shares of the company traded hands, compared to its average volume of 1,840,230. The firm has a fifty day simple moving average of $101.88 and a 200 day simple moving average of $90.39. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. NetApp, Inc. has a 1-year low of $62.29 and a 1-year high of $112.48. The firm has a market cap of $22.28 billion, a P/E ratio of 23.78, a price-to-earnings-growth ratio of 2.18 and a beta of 1.27.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.25. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.59 billion. NetApp had a return on equity of 109.49% and a net margin of 15.21%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 EPS. Analysts anticipate that NetApp, Inc. will post 5.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Friday, April 5th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, April 4th. NetApp’s dividend payout ratio is presently 45.45%.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $103.16, for a total transaction of $876,860.00. Following the completion of the sale, the chief executive officer now owns 252,702 shares of the company’s stock, valued at $26,068,738.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $103.16, for a total value of $876,860.00. Following the sale, the chief executive officer now directly owns 252,702 shares of the company’s stock, valued at $26,068,738.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael J. Berry sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $102.67, for a total transaction of $1,540,050.00. Following the completion of the sale, the chief financial officer now owns 144,909 shares in the company, valued at approximately $14,877,807.03. The disclosure for this sale can be found here. Insiders have sold a total of 40,371 shares of company stock worth $4,139,505 over the last three months. Corporate insiders own 0.37% of the company’s stock.

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.