Harvest Fund Management Co. Ltd Has $2.06 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Harvest Fund Management Co. Ltd boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 25.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,927 shares of the data storage provider's stock after acquiring an additional 3,887 shares during the period. Harvest Fund Management Co. Ltd's holdings in NetApp were worth $2,059,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of NTAP. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of NetApp during the 4th quarter worth approximately $26,000. Assetmark Inc. lifted its position 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 acquiring an additional 215 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in shares of NetApp during the fourth quarter valued at $32,000. Golden State Wealth Management LLC purchased a new stake in NetApp during the 4th quarter worth about $35,000. Finally, OFI Invest Asset Management acquired a new position in NetApp in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

Analyst Upgrades and Downgrades

NTAP has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. cut their price target on NetApp from $160.00 to $153.00 and set an "overweight" rating for the company in a report on Friday, February 28th. TD Cowen lowered their price objective on NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Citigroup dropped their target price on NetApp from $135.00 to $110.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Finally, StockNews.com lowered NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $129.07.

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Insider Buying and Selling

In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the completion of the sale, the chief executive officer now owns 266,765 shares of the company's stock, valued at approximately $31,755,705.60. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth M. O'callahan sold 528 shares of NetApp stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $92.58, for a total transaction of $48,882.24. Following the transaction, the executive vice president now directly owns 12,900 shares in the company, valued at $1,194,282. The trade was a 3.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,931 shares of company stock valued at $6,252,759. 0.47% of the stock is owned by company insiders.

NetApp Stock Performance

NTAP stock traded up $2.87 during mid-day trading on Monday, reaching $95.12. 2,170,438 shares of the stock traded hands, compared to its average volume of 1,748,623. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The business has a 50-day moving average of $112.44 and a two-hundred day moving average of $118.06. The firm has a market capitalization of $19.35 billion, a PE ratio of 17.49, a P/E/G ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 52 week low of $89.88 and a 52 week high of $135.45.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.19%. NetApp's payout ratio is 38.52%.

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.