NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Bank of New Hampshire

Bank of New Hampshire lifted its stake in NetApp, Inc. (NASDAQ:NTAP) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,734 shares of the data storage provider’s stock after purchasing an additional 312 shares during the quarter. Bank of New Hampshire’s holdings in NetApp were worth $1,710,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Hollencrest Capital Management acquired a new position in NetApp during the second quarter worth $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of NetApp in the 3rd quarter valued at $27,000. Redwood Wealth Management Group LLC acquired a new position in NetApp during the 2nd quarter worth about $32,000. True Wealth Design LLC boosted its holdings in NetApp by 2,833.3% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock valued at $43,000 after acquiring an additional 340 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in NetApp in the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Up 0.8 %

Shares of NetApp stock traded up $0.93 during trading hours on Tuesday, hitting $118.93. The company had a trading volume of 94,127 shares, compared to its average volume of 950,714. The company’s 50-day moving average is $121.06 and its two-hundred day moving average is $123.44. NetApp, Inc. has a twelve month low of $83.62 and a twelve month 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. The company has a market cap of $24.18 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 2.92 and a beta of 1.23.

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

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, January 3rd. NetApp’s dividend payout ratio is currently 38.24%.

Insider Activity

In other 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 value of $2,529,780.00. Following the completion of the sale, the president now directly owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This represents a 44.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lorenzo Daniel De sold 326 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $117.44, for a total value of $38,285.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,864 shares of company stock valued at $6,185,830. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NTAP shares. Morgan Stanley increased their price target on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Northland Securities increased their target price on shares of NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. TD Cowen boosted their price target on shares of NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Barclays increased their price objective on NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Finally, Citigroup boosted their target price on NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $139.20.

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.