NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Boston Trust Walden Corp

Boston Trust Walden Corp increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 707.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 498,520 shares of the data storage provider's stock after buying an additional 436,805 shares during the quarter. Boston Trust Walden Corp owned about 0.25% of NetApp worth $43,790,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NTAP. Vanguard Group Inc. boosted its stake in shares of NetApp by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock worth $3,069,617,000 after acquiring an additional 429,343 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of NetApp by 14.5% during the 4th quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider's stock worth $815,402,000 after purchasing an additional 888,671 shares during the last quarter. Invesco Ltd. raised its position in shares of NetApp by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider's stock worth $362,544,000 after purchasing an additional 529,471 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of NetApp by 8.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,986,330 shares of the data storage provider's stock worth $346,653,000 after purchasing an additional 220,393 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. raised its position in shares of NetApp by 0.4% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider's stock worth $335,215,000 after purchasing an additional 12,919 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on NTAP shares. Loop Capital cut their price target on shares of NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Barclays lifted their price objective on shares of NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Wedbush reiterated a "neutral" rating and set a $110.00 price target on shares of NetApp in a research note on Friday, May 30th. UBS Group cut their price target on shares of NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Finally, Citigroup lifted their price target on shares of NetApp from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $117.79.

Insider Transactions at NetApp

In related news, Director Anders Gustafsson acquired 2,800 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was bought at an average cost of $91.00 per share, with a total value of $254,800.00. Following the acquisition, the director now directly owns 6,348 shares in the company, valued at approximately $577,668. The trade was a 78.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Cesar Cernuda sold 19,696 shares of the firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the transaction, the president now directly owns 11,928 shares of the company's stock, valued at approximately $1,075,309.20. This represents a 62.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,998 shares of company stock valued at $3,366,108 over the last 90 days. Corporate insiders own 0.47% of the company's stock.

NetApp Trading Up 1.5%

NetApp stock traded up $1.58 during trading on Monday, hitting $104.27. The company's stock had a trading volume of 2,344,615 shares, compared to its average volume of 1,929,404. The stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 2.35 and a beta of 1.42. The stock's fifty day moving average is $96.21 and its 200 day moving average is $104.54. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.22 and a current ratio of 1.25.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The data storage provider reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. NetApp had a net margin of 18.05% and a return on equity of 126.96%. NetApp's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.80 earnings per share. As a group, equities research analysts predict that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, July 3rd. NetApp's payout ratio is currently 36.62%.

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.