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

TD Asset Management Inc. cut its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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.

Several other hedge funds have also modified their holdings of NTAP. Vanguard Group Inc. increased its stake in NetApp by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock worth $3,069,617,000 after purchasing an additional 429,343 shares in the last quarter. State Street Corp increased its position in shares of NetApp by 2.0% in the third quarter. State Street Corp now owns 10,261,170 shares of the data storage provider's stock worth $1,267,357,000 after acquiring an additional 199,384 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of NetApp by 8.2% during the third quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider's stock valued at $738,280,000 after acquiring an additional 453,324 shares during the period. Boston Partners lifted its position in shares of NetApp by 53.9% in the 4th quarter. Boston Partners now owns 2,083,189 shares of the data storage provider's stock valued at $241,867,000 after acquiring an additional 729,394 shares in the last quarter. Finally, Amundi grew its position in NetApp by 25.7% during the 4th quarter. Amundi now owns 1,948,917 shares of the data storage provider's stock worth $228,492,000 after purchasing an additional 397,871 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at NetApp

In other NetApp news, 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 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. This trade represents a 44.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O'callahan sold 451 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was 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 of the company's stock, valued at approximately $1,402,063.95. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,931 shares of company stock worth $6,252,759. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays decreased their target price on NetApp from $132.00 to $115.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Wedbush restated a "neutral" rating and set a $110.00 price objective (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Susquehanna downgraded NetApp from a "positive" rating to a "neutral" rating and dropped their target price for the company from $155.00 to $130.00 in a report on Monday, February 10th. TD Cowen decreased 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. Finally, StockNews.com lowered 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 issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $129.07.

NetApp Stock Down 3.0 %

Shares of NASDAQ NTAP traded down $2.69 during mid-day trading on Friday, reaching $88.40. 2,662,211 shares of the company traded hands, compared to its average volume of 1,848,948. The company's fifty day moving average is $109.82 and its two-hundred day moving average is $117.25. NetApp, Inc. has a fifty-two week low of $88.14 and a fifty-two week high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The stock has a market cap of $17.98 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, April 4th. NetApp's dividend payout ratio is 38.52%.

About NetApp

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.