Eventide Asset Management LLC Has $11.79 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Eventide Asset Management LLC decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 48.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 95,422 shares of the data storage provider’s stock after selling 88,834 shares during the quarter. Eventide Asset Management LLC’s holdings in NetApp were worth $11,786,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NTAP. Price T Rowe Associates Inc. MD grew its position in NetApp by 39.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 393,975 shares of the data storage provider’s stock valued at $41,357,000 after purchasing an additional 111,439 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in NetApp by 8.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,489 shares of the data storage provider’s stock valued at $366,000 after acquiring an additional 271 shares during the period. Virtu Financial LLC bought a new stake in NetApp in the 1st quarter valued at about $731,000. Swedbank AB bought a new stake in NetApp in the 1st quarter valued at about $7,141,000. Finally, PGGM Investments increased its position in shares of NetApp by 1.8% during the first quarter. PGGM Investments now owns 59,661 shares of the data storage provider’s stock valued at $6,263,000 after buying an additional 1,054 shares during the period. Institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NTAP shares. Loop Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Oppenheimer assumed coverage on NetApp in a report on Wednesday, November 13th. They set a “market perform” rating for the company. Stifel Nicolaus increased their price objective on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Citigroup raised their price target on NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Barclays increased their price objective on NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $134.00.

Insider Buying and Selling at NetApp

In other news, Director Thomas Michael Nevens sold 3,333 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $119.23, for a total transaction of $397,393.59. Following the completion of the transaction, the director now directly owns 9,277 shares of the company’s stock, valued at approximately $1,106,096.71. This represents a 26.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 705 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. This represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,049 shares of company stock worth $2,807,851 over the last quarter. 0.47% of the stock is currently owned by company insiders.

NetApp Trading Down 5.5 %

Shares of NASDAQ:NTAP opened at $122.43 on Friday. The stock has a market cap of $24.89 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 2.93 and a beta of 1.24. NetApp, Inc. has a 52-week low of $77.56 and a 52-week high of $135.45. The business has a 50-day moving average price of $122.36 and a 200-day moving average price of $122.95. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.78 by $0.09. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. NetApp’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.23 earnings per share. Equities analysts predict that NetApp, Inc. will post 5.83 EPS for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.70%. NetApp’s payout ratio is 38.24%.

NetApp Company 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.