NetApp, Inc. (NASDAQ:NTAP) Shares Purchased by Amalgamated Bank

Amalgamated Bank boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,825 shares of the data storage provider’s stock after buying an additional 4,386 shares during the period. Amalgamated Bank’s holdings in NetApp were worth $5,803,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mission Wealth Management LP increased its holdings in shares of NetApp by 3.3% in the fourth quarter. Mission Wealth Management LP now owns 3,639 shares of the data storage provider’s stock valued at $321,000 after purchasing an additional 115 shares during the period. First Horizon Advisors Inc. raised its position in NetApp by 58.7% during the 4th quarter. First Horizon Advisors Inc. now owns 311 shares of the data storage provider’s stock worth $27,000 after buying an additional 115 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of NetApp by 10.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,336 shares of the data storage provider’s stock worth $118,000 after acquiring an additional 123 shares during the period. Hennessy Advisors Inc. boosted its holdings in shares of NetApp by 0.3% in the fourth quarter. Hennessy Advisors Inc. now owns 41,209 shares of the data storage provider’s stock valued at $3,633,000 after acquiring an additional 134 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of NetApp by 40.4% during the third quarter. Huntington National Bank now owns 490 shares of the data storage provider’s stock worth $37,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NTAP. TD Cowen raised their price objective on shares of NetApp from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Evercore ISI increased their price objective on NetApp from $95.00 to $105.00 and gave the stock an “in-line” rating in a research report on Friday, March 1st. Raymond James restated a “market perform” rating on shares of NetApp in a research report on Tuesday, January 16th. Citigroup increased their price target on shares of NetApp from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. Finally, UBS Group boosted their price objective on shares of NetApp from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and an average target price of $100.60.

NetApp Stock Performance

Shares of NTAP opened at $107.95 on Tuesday. NetApp, Inc. has a 1 year low of $62.29 and a 1 year high of $112.48. The company’s 50 day simple moving average is $102.29 and its 200 day simple moving average is $90.62. The company has a market capitalization of $22.28 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 2.18 and a beta of 1.27. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.25. The company had revenue of $1.61 billion for 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 business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.02 EPS. On average, sell-side analysts predict that NetApp, Inc. will post 5.16 EPS for the current year.

NetApp Announces Dividend

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

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $103.16, for a total transaction of $876,860.00. Following the transaction, the chief executive officer now owns 252,702 shares of the company’s stock, valued at $26,068,738.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NetApp news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were 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 directly owns 252,702 shares in the company, valued at $26,068,738.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total transaction of $89,730.42. Following the transaction, the executive vice president now owns 9,601 shares in the company, valued at approximately $989,095.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,371 shares of company stock worth $4,139,505. 0.37% of the stock is owned by company insiders.

About NetApp

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.