TD Waterhouse Canada Inc. Increases Stock Position in NetApp, Inc. (NASDAQ:NTAP)

TD Waterhouse Canada Inc. lifted its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 21.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,119 shares of the data storage provider's stock after buying an additional 3,587 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in NetApp were worth $2,334,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of NetApp during the fourth quarter valued at approximately $26,000. Assetmark Inc. grew its stake 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 stake in shares of NetApp in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC bought a new position in NetApp during the 4th quarter valued at approximately $35,000. Finally, OFI Invest Asset Management purchased a new position in shares of NetApp in the 4th quarter worth about $39,000. 92.17% of the stock is currently owned by institutional investors.

Insider Transactions at NetApp

In other news, CFO Michael J. Berry sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the sale, the chief financial officer now directly owns 123,243 shares of the company's stock, valued at $14,880,359.82. This represents a 9.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth M. O'callahan sold 452 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $120.75, for a total transaction of $54,579.00. Following the completion of the transaction, the executive vice president now directly owns 11,553 shares of the company's stock, valued at approximately $1,395,024.75. This trade represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,176 shares of company stock valued at $5,095,701. 0.47% of the stock is currently owned by corporate insiders.

NetApp Stock Performance

NASDAQ:NTAP opened at $84.86 on Thursday. The stock has a 50-day moving average price of $94.13 and a 200 day moving average price of $112.03. 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, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The stock has a market capitalization of $17.26 billion, a P/E ratio of 15.60, a P/E/G ratio of 2.45 and a beta of 1.31.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, April 4th. NetApp's payout ratio is currently 38.52%.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of recent analyst reports. TD Cowen decreased their price objective 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. Keefe, Bruyette & Woods upgraded NetApp to an "outperform" rating in a report on Wednesday, February 19th. Wedbush reiterated a "neutral" rating and set a $110.00 target price (down from $120.00) on shares of NetApp in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Barclays reduced their price objective 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. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, NetApp presently has a consensus rating of "Hold" and an average price target of $125.07.

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.

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