TD Asset Management Inc. Has $205.49 Million Stake in NetApp, Inc. (NASDAQ:NTAP)

TD Asset Management Inc. reduced its position in NetApp, Inc. (NASDAQ:NTAP) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,770,226 shares of the data storage provider’s stock after selling 95,562 shares during the period. TD Asset Management Inc.’s holdings in NetApp were worth $205,488,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NTAP. M&T Bank Corp grew its holdings in shares of NetApp by 4.8% during the fourth quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock valued at $1,485,000 after buying an additional 581 shares during the last quarter. Versor Investments LP bought a new position in NetApp in the 4th quarter valued at about $395,000. AMJ Financial Wealth Management boosted its stake in NetApp by 120.7% during 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 last quarter. Daiwa Securities Group Inc. increased its holdings in NetApp by 20.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock worth $5,225,000 after purchasing an additional 7,318 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of NetApp by 9.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock worth $156,268,000 after purchasing an additional 113,360 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $121.00 to $128.00 in a research report on Wednesday, February 19th. TD Cowen reduced their target price on shares of NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Wedbush reissued a “neutral” rating and set a $110.00 price target (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their target price on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $129.07.

Insider Buying and Selling at NetApp

In other news, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction that occurred on 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 sale, the president now owns 27,099 shares of the company’s stock, valued at $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Elizabeth M. O’callahan sold 528 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 12,900 shares of the company’s stock, valued at approximately $1,194,282. This trade represents a 3.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,931 shares of company stock valued at $6,252,759 over the last three months. 0.47% of the stock is currently owned by insiders.

NetApp Stock Performance

Shares of NTAP opened at $94.39 on Wednesday. NetApp, Inc. has a 1 year low of $89.88 and a 1 year 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 stock’s fifty day moving average price is $111.60 and its two-hundred day moving average price is $117.77. The firm has a market cap of $19.20 billion, a PE ratio of 17.35, a PEG ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio is currently 38.52%.

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.