Harvest Fund Management Co. Ltd Acquires 3,887 Shares of NetApp, Inc. (NASDAQ:NTAP)

Harvest Fund Management Co. Ltd raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 25.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,927 shares of the data storage provider’s stock after acquiring an additional 3,887 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in NetApp were worth $2,059,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of NetApp during the 4th quarter worth approximately $26,000. Assetmark Inc. grew its stake in shares of NetApp by 826.9% in the fourth 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 position in shares of NetApp in the fourth quarter valued at $32,000. Golden State Wealth Management LLC bought a new position in shares of NetApp in the fourth quarter valued at $35,000. Finally, OFI Invest Asset Management bought a new position in shares of NetApp in the fourth quarter valued at $39,000. 92.17% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the president now owns 27,099 shares of the company’s stock, valued at $3,116,114.01. This represents a 44.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $123.03, for a total transaction of $1,045,755.00. Following the sale, the chief executive officer now directly owns 271,282 shares of the company’s stock, valued at $33,375,824.46. This represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,931 shares of company stock valued at $6,252,759 over the last quarter. 0.47% of the stock is owned by company insiders.

NetApp Stock Up 1.4 %

NTAP opened at $93.53 on Thursday. NetApp, Inc. has a fifty-two week low of $89.88 and a fifty-two week high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The company has a market capitalization of $19.03 billion, a P/E ratio of 17.19, a P/E/G ratio of 2.45 and a beta of 1.24. The stock has a fifty day moving average of $113.44 and a 200-day moving average of $118.46.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.22%. NetApp’s dividend payout ratio is 38.52%.

Analyst Ratings Changes

NTAP has been the subject of several analyst reports. Susquehanna cut shares of 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 note on Monday, February 10th. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and raised their target price for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Citigroup decreased their target price 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. JPMorgan Chase & Co. decreased their target price on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, Northland Securities raised their price target on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.