TD Private Client Wealth LLC Boosts Position in NetApp, Inc. (NASDAQ:NTAP)

TD Private Client Wealth LLC increased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,013 shares of the data storage provider’s stock after acquiring an additional 235 shares during the quarter. TD Private Client Wealth LLC’s holdings in NetApp were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in NTAP. M&T Bank Corp raised its position 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 worth $1,485,000 after acquiring an additional 581 shares in the last quarter. Versor Investments LP purchased a new position in NetApp during the fourth quarter valued at $395,000. AMJ Financial Wealth Management lifted its position in NetApp by 120.7% during the fourth quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider’s stock valued at $7,998,000 after buying an additional 37,684 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of NetApp by 20.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock valued at $5,225,000 after buying an additional 7,318 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of NetApp by 9.2% in the 4th 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 buying an additional 113,360 shares during the period. Institutional investors own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Morgan Stanley raised their price objective on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Barclays dropped their target price on NetApp from $132.00 to $115.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. reduced 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. Finally, StockNews.com cut shares of 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, the stock presently has an average rating of “Hold” and a consensus price target of $129.07.

Insider Buying and Selling at NetApp

In other news, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $123.03, for a total value of $1,045,755.00. Following the transaction, the chief executive officer now owns 271,282 shares in the company, valued at $33,375,824.46. This represents a 3.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now directly owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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 Trading Up 3.1 %

Shares of NTAP stock opened at $95.12 on Tuesday. The stock has a market capitalization of $19.35 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The firm’s 50 day moving average is $112.05 and its 200 day moving average is $117.91. NetApp, Inc. has a 12-month low of $89.88 and a 12-month high of $135.45.

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 given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio (DPR) is presently 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.