Gallacher Capital Management LLC Has $816,000 Stake in NetApp, Inc. (NASDAQ:NTAP)

Gallacher Capital Management LLC grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 97.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,285 shares of the data storage provider's stock after purchasing an additional 4,591 shares during the period. Gallacher Capital Management LLC's holdings in NetApp were worth $816,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in NTAP. Itau Unibanco Holding S.A. boosted its stake in shares of NetApp by 929.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after acquiring an additional 251 shares in the last quarter. Coppell Advisory Solutions LLC boosted its position in shares of NetApp by 50.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after purchasing an additional 100 shares during the period. Park Square Financial Group LLC acquired a new position in shares of NetApp in the 4th quarter valued at $36,000. Olde Wealth Management LLC acquired a new position in shares of NetApp in the 1st quarter valued at $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of NetApp by 54.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider's stock worth $31,000 after buying an additional 124 shares during the period. Institutional investors own 92.17% of the company's stock.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $108.08, for a total value of $918,680.00. Following the completion of the sale, the chief executive officer owned 288,305 shares of the company's stock, valued at $31,160,004.40. The trade was a 2.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $106.84, for a total value of $106,840.00. Following the completion of the sale, the executive vice president directly owned 24,251 shares of the company's stock, valued at $2,590,976.84. This represents a 3.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,302 shares of company stock valued at $1,920,479. Insiders own 0.47% of the company's stock.

NetApp Stock Down 0.6%

NTAP traded down $0.61 during trading on Thursday, reaching $105.27. 400,027 shares of the stock traded hands, compared to its average volume of 2,098,047. The stock has a market cap of $21.09 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 2.42 and a beta of 1.42. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.25 and a quick ratio of 1.22. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The stock's 50-day simple moving average is $103.58 and its two-hundred day simple moving average is $102.70.

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

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Thursday, July 3rd. NetApp's payout ratio is presently 36.62%.

Analysts Set New Price Targets

Several research analysts have commented on NTAP shares. Wells Fargo & Company decreased their target price on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Evercore ISI decreased their price objective on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a research note on Monday, April 28th. Barclays raised their price objective on shares of NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Morgan Stanley reaffirmed a "cautious" rating on shares of NetApp in a research report on Tuesday, May 20th. Finally, Citigroup raised their target price on NetApp from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $118.86.

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.