NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 27.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,240 shares of the data storage provider's stock after selling 34,490 shares during the period. Toronto Dominion Bank's holdings in NetApp were worth $11,393,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Hollencrest Capital Management purchased a new stake in NetApp during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of NetApp during the 3rd quarter worth about $27,000. Redwood Wealth Management Group LLC acquired a new position in shares of NetApp in the second quarter valued at approximately $32,000. Hershey Financial Advisers LLC acquired a new stake in NetApp during the second quarter worth approximately $45,000. Finally, True Wealth Design LLC raised its holdings in NetApp by 2,833.3% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider's stock valued at $43,000 after acquiring an additional 340 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Stock Down 1.3 %

NASDAQ:NTAP traded down $1.56 during mid-day trading on Friday, reaching $121.95. The stock had a trading volume of 885,919 shares, compared to its average volume of 1,851,572. The stock's 50 day simple moving average is $122.90 and its two-hundred day simple moving average is $123.99. NetApp, Inc. has a 1-year low of $83.62 and a 1-year high of $135.45. The company has a market capitalization of $24.79 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 2.94 and a beta of 1.23. 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 (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The firm's revenue was up 6.1% on a year-over-year basis. Equities analysts anticipate that NetApp, Inc. will post 5.83 EPS for the current year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.71%. NetApp's dividend payout ratio is currently 38.24%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NTAP shares. Northland Securities upped their price objective on shares of NetApp from $108.00 to $120.00 and gave the company a "market perform" rating in a research note on Friday, November 22nd. Wedbush reissued a "neutral" rating and set a $120.00 price target on shares of NetApp in a research report on Friday, November 22nd. Wells Fargo & Company increased their target price on shares of NetApp from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Friday, November 22nd. Morgan Stanley lifted their price target on shares of NetApp from $127.00 to $132.00 and gave the company an "equal weight" rating in a research report on Friday, November 22nd. Finally, Stifel Nicolaus lifted their target price on shares of NetApp from $140.00 to $145.00 and gave the company a "buy" rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $137.40.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O'callahan sold 705 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the sale, the executive vice president now owns 11,694 shares of the company's stock, valued at $1,475,782.80. This trade represents a 5.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 326 shares of NetApp stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $117.44, for a total transaction of $38,285.44. The disclosure for this sale can be found here. Insiders sold a total of 23,049 shares of company stock worth $2,807,851 over the last ninety days. 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.