TD Private Client Wealth LLC Acquires 235 Shares of NetApp, Inc. (NASDAQ:NTAP)

TD Private Client Wealth LLC grew its stake in NetApp, Inc. (NASDAQ:NTAP) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities and 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 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new stake in NetApp during the fourth quarter valued at about $26,000. Assetmark Inc. grew its position in shares of NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after buying an additional 215 shares during the last quarter. Synergy Investment Management LLC purchased a new position in shares of NetApp in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC bought a new position in shares of NetApp during the 4th quarter worth approximately $35,000. Finally, OFI Invest Asset Management purchased a new stake in NetApp during the fourth quarter valued at approximately $39,000. 92.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NTAP shares. Barclays reduced their price target on NetApp from $132.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. StockNews.com cut NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods raised shares of NetApp to an “outperform” rating in a research 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $129.07.

NetApp Trading Up 3.1 %

NetApp stock opened at $95.12 on Tuesday. The stock’s 50 day simple moving average is $112.05 and its two-hundred day simple moving average is $117.91. NetApp, Inc. has a 12 month low of $89.88 and a 12 month high of $135.45. The firm has a market cap of $19.35 billion, a PE 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.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s payout ratio is currently 38.52%.

Insider Activity 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 stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the sale, the president now directly owns 27,099 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 451 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the transaction, the executive vice president now owns 12,005 shares in the company, valued at $1,402,063.95. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,931 shares of company stock worth $6,252,759 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.

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.