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

TD Asset Management Inc. decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,770,226 shares of the data storage provider’s stock after selling 95,562 shares during the period. TD Asset Management Inc. owned approximately 0.87% of NetApp worth $205,488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. EntryPoint Capital LLC bought a new stake in shares of NetApp in the fourth quarter valued at approximately $287,000. Corebridge Financial Inc. increased its stake in NetApp by 7.9% during the 4th quarter. Corebridge Financial Inc. now owns 114,715 shares of the data storage provider’s stock worth $13,316,000 after acquiring an additional 8,442 shares during the period. FCA Corp TX raised its holdings in NetApp by 14.3% in the 4th quarter. FCA Corp TX now owns 8,000 shares of the data storage provider’s stock valued at $1,030,000 after acquiring an additional 1,000 shares in the last quarter. Vanguard Group Inc. lifted its position 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 valued at $3,069,617,000 after acquiring an additional 429,343 shares during the period. Finally, Stevens Capital Management LP grew its holdings in shares of NetApp by 277.0% during the 4th quarter. Stevens Capital Management LP now owns 8,860 shares of the data storage provider’s stock worth $1,028,000 after purchasing an additional 6,510 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com downgraded NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. TD Cowen cut their price target on shares of NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, February 28th. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. Barclays lowered their price objective on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, Citigroup reduced their target price on NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $129.07.

NetApp Stock Down 0.8 %

Shares of NASDAQ NTAP opened at $94.39 on Wednesday. The company has a 50 day simple moving average of $111.60 and a 200 day simple moving average of $117.77. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp, Inc. has a 1 year low of $89.88 and a 1 year high of $135.45. The firm has a market cap of $19.20 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio (DPR) is currently 38.52%.

Insider Transactions at NetApp

In other news, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated 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 $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 528 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $92.58, for a total value of $48,882.24. Following the completion of the sale, the executive vice president now owns 12,900 shares in the company, valued at $1,194,282. The trade was a 3.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,931 shares of company stock worth $6,252,759. Company 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.