Gallacher Capital Management LLC Purchases 1,006 Shares of NetApp, Inc. (NASDAQ:NTAP)

Gallacher Capital Management LLC boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 27.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,694 shares of the data storage provider’s stock after buying an additional 1,006 shares during the quarter. Gallacher Capital Management LLC’s holdings in NetApp were worth $545,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Corient Private Wealth LLC grew its position in shares of NetApp by 1.7% during the 4th quarter. Corient Private Wealth LLC now owns 64,226 shares of the data storage provider’s stock valued at $7,456,000 after acquiring an additional 1,066 shares during the period. Gitterman Wealth Management LLC grew its position in shares of NetApp by 6.4% during the 4th quarter. Gitterman Wealth Management LLC now owns 1,900 shares of the data storage provider’s stock valued at $221,000 after acquiring an additional 114 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in NetApp by 11.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 26,578 shares of the data storage provider’s stock valued at $3,085,000 after purchasing an additional 2,658 shares during the period. Natixis Advisors LLC grew its holdings in NetApp by 1.8% during the fourth quarter. Natixis Advisors LLC now owns 73,403 shares of the data storage provider’s stock valued at $8,521,000 after purchasing an additional 1,266 shares during the period. Finally, Ironwood Investment Counsel LLC grew its holdings in NetApp by 3.5% during the fourth quarter. Ironwood Investment Counsel LLC now owns 10,491 shares of the data storage provider’s stock valued at $1,218,000 after purchasing an additional 352 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of recent research reports. Bank of America upgraded NetApp from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Northland Securities upped their price target on shares of NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday, November 22nd. Susquehanna cut shares of NetApp from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $155.00 to $130.00 in a research note on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $129.07.

Insider Buying and Selling at NetApp

In related news, President Cesar Cernuda sold 22,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This trade represents a 44.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 528 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the completion of the transaction, the executive vice president now directly owns 12,900 shares of the company’s stock, valued at approximately $1,194,282. The trade was a 3.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,431 shares of company stock worth $7,309,224 over the last 90 days. 0.47% of the stock is owned by insiders.

NetApp Price Performance

Shares of NetApp stock opened at $91.98 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The firm has a market cap of $18.71 billion, a PE ratio of 16.91, a PEG ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 12 month low of $89.88 and a 12 month high of $135.45. The stock has a 50 day moving average of $114.93 and a 200 day moving average of $119.11.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.26%. NetApp’s dividend payout ratio (DPR) is currently 38.52%.

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.