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

Gallacher Capital Management LLC boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 27.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,694 shares of the data storage provider’s stock after purchasing an additional 1,006 shares during the period. Gallacher Capital Management LLC’s holdings in NetApp were worth $545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of NetApp during the fourth quarter worth $26,000. Assetmark Inc. lifted its holdings in NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after buying an additional 215 shares in the last quarter. Synergy Investment Management LLC bought a new stake in NetApp during the 4th quarter valued at about $32,000. Golden State Wealth Management LLC bought a new stake in NetApp during the 4th quarter valued at about $35,000. Finally, OFI Invest Asset Management bought a new stake in shares of NetApp during the fourth quarter valued at approximately $39,000. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Up 2.1 %

NetApp stock opened at $91.98 on Friday. NetApp, Inc. has a 1-year low of $89.88 and a 1-year high of $135.45. The business has a fifty day moving average price of $114.93 and a 200-day moving average price of $119.11. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The stock has a market capitalization of $18.71 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.45 and a beta of 1.24.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.26%. The ex-dividend date is Friday, April 4th. NetApp’s dividend payout ratio is presently 38.52%.

Insider Transactions at NetApp

In other NetApp news, CFO Michael J. Berry sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the transaction, the chief financial officer now owns 123,243 shares in the company, valued at approximately $14,880,359.82. This represents a 9.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,431 shares of company stock worth $7,309,224. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on NTAP shares. Citigroup decreased their price target on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Susquehanna lowered NetApp from a “positive” rating to a “neutral” rating and decreased their target price for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Barclays decreased their price objective on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. decreased their price objective on NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods raised shares of NetApp to an “outperform” rating in a research report on Wednesday, February 19th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, NetApp presently has a consensus rating of “Hold” and a consensus price target of $129.07.

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.