Bank of New Hampshire Buys 266 Shares of NetApp, Inc. (NASDAQ:NTAP)

Bank of New Hampshire grew its stake in NetApp, Inc. (NASDAQ:NTAP) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,000 shares of the data storage provider’s stock after purchasing an additional 266 shares during the period. Bank of New Hampshire’s holdings in NetApp were worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. M&T Bank Corp grew its stake in shares of NetApp by 4.8% in the 4th quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock valued at $1,485,000 after purchasing an additional 581 shares during the period. Versor Investments LP bought a new stake in shares of NetApp in the 4th quarter valued at approximately $395,000. AMJ Financial Wealth Management grew its stake in shares of NetApp by 120.7% in the 4th quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider’s stock valued at $7,998,000 after purchasing an additional 37,684 shares during the period. Brandywine Global Investment Management LLC bought a new stake in shares of NetApp in the 4th quarter valued at approximately $5,151,000. Finally, Vanguard Group Inc. grew its stake in shares of NetApp by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider’s stock valued at $3,069,617,000 after purchasing an additional 429,343 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NTAP. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Barclays boosted their target price on NetApp from $115.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. UBS Group reduced their target price on NetApp from $115.00 to $108.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a report on Wednesday, February 19th. Finally, Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $117.79.

Insiders Place Their Bets

In other NetApp news, President Cesar Cernuda sold 19,696 shares of the company’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the sale, the president now owns 11,928 shares in the company, valued at approximately $1,075,309.20. The trade was a 62.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 528 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the sale, the executive vice president now owns 12,900 shares of the company’s stock, valued at $1,194,282. The trade was a 3.93% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,026 shares of company stock valued at $2,549,860. 0.47% of the stock is currently owned by corporate insiders.

NetApp Stock Up 1.6%

NASDAQ:NTAP opened at $106.25 on Friday. The stock’s fifty day moving average price is $91.54 and its two-hundred day moving average price is $106.44. NetApp, Inc. has a 52-week low of $71.84 and a 52-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 cap of $21.61 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 2.45 and a beta of 1.42.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the business earned $1.80 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, July 3rd. NetApp’s dividend payout ratio is 36.62%.

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.