Harbor Capital Advisors Inc. Acquires 1,959 Shares of NetApp, Inc. (NASDAQ:NTAP)

Harbor Capital Advisors Inc. lifted its holdings in NetApp, Inc. (NASDAQ:NTAPFree Report) by 78.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 4,444 shares of the data storage provider’s stock after buying an additional 1,959 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in NetApp were worth $390,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. M&T Bank Corp increased its position in shares of NetApp by 4.8% during the fourth quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock worth $1,485,000 after acquiring an additional 581 shares in the last quarter. Versor Investments LP acquired a new position in NetApp in the 4th quarter worth $395,000. AMJ Financial Wealth Management increased its holdings in NetApp by 120.7% during the 4th quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider’s stock worth $7,998,000 after purchasing an additional 37,684 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in shares of NetApp in the 4th quarter valued at about $5,151,000. Finally, Vanguard Group Inc. lifted its holdings in shares of NetApp by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider’s stock valued at $3,069,617,000 after purchasing an additional 429,343 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays increased their price objective on NetApp from $115.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. TD Cowen lowered their price objective on shares of NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Wedbush reissued a “neutral” rating and issued a $110.00 price objective on shares of NetApp in a research report on Friday, May 30th. Citigroup raised their target price on shares of NetApp from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, June 2nd. Finally, Wall Street Zen cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, NetApp currently has an average rating of “Hold” and an average target price of $117.79.

Read Our Latest Analysis on NetApp

NetApp Stock Performance

Shares of NTAP stock opened at $100.49 on Friday. The stock has a market cap of $20.13 billion, a P/E ratio of 18.47, a P/E/G ratio of 2.45 and a beta of 1.42. The company has a fifty day moving average price of $93.75 and a two-hundred day moving average price of $105.63. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp (NASDAQ:NTAPGet Free Report) last posted its quarterly earnings results on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.72 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. NetApp’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $1.80 earnings per share. As a group, equities analysts predict that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, July 3rd. NetApp’s dividend payout ratio is 36.62%.

Insiders Place Their Bets

In other NetApp news, CAO Lorenzo Daniel De sold 302 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total value of $29,828.54. Following the transaction, the chief accounting officer now directly owns 455 shares of the company’s stock, valued at $44,940.35. This represents a 39.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Cesar Cernuda sold 19,696 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the sale, the president now owns 11,928 shares of the company’s stock, valued at $1,075,309.20. This trade represents a 62.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,498 shares of company stock valued at $2,500,978 over the last ninety days. 0.47% of the stock is currently owned by company insiders.

NetApp Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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