NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lowered its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 16.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,040 shares of the data storage provider’s stock after selling 2,933 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in NetApp were worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. raised its holdings in NetApp by 11.8% in the second quarter. UMB Bank n.a. now owns 784 shares of the data storage provider’s stock valued at $101,000 after acquiring an additional 83 shares in the last quarter. Aviso Wealth Management increased its position in shares of NetApp by 1.4% in the 2nd quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock valued at $792,000 after purchasing an additional 83 shares during the last quarter. Waldron Private Wealth LLC raised its holdings in shares of NetApp by 4.3% in the 2nd quarter. Waldron Private Wealth LLC now owns 2,255 shares of the data storage provider’s stock valued at $290,000 after purchasing an additional 92 shares in the last quarter. Quarry LP lifted its position in shares of NetApp by 11.7% during the 2nd quarter. Quarry LP now owns 876 shares of the data storage provider’s stock worth $113,000 after purchasing an additional 92 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co grew its stake in shares of NetApp by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider’s stock worth $2,437,000 after purchasing an additional 95 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of recent analyst reports. Evercore ISI increased their price objective on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a report on Monday, August 12th. Bank of America raised their price objective on shares of NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a report on Friday. Barclays upped their target price on shares of NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday. 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. Finally, UBS Group upped their price objective on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $134.00.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $126.18 on Tuesday. NetApp, Inc. has a one year low of $77.56 and a one year high of $135.45. The stock has a market cap of $25.84 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 3.15 and a beta of 1.24. The business’s fifty day moving average price is $122.04 and its two-hundred day moving average price is $122.81. 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 (NASDAQ:NTAP) last posted its quarterly earnings data 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 firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. On average, analysts forecast that NetApp, Inc. will post 5.71 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.52 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.08 annualized dividend and a yield of 1.65%. NetApp’s payout ratio is currently 38.24%.

Insider Buying and Selling

In related news, CAO Lorenzo Daniel De sold 1,685 shares of NetApp stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total value of $208,266.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the transaction, the executive vice president now directly owns 11,694 shares in the company, valued at $1,475,782.80. This represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,049 shares of company stock worth $2,807,851. 0.47% of the stock is owned by company insiders.

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.