Toronto Dominion Bank Boosts Stake in NetApp, Inc. (NASDAQ:NTAP)

Toronto Dominion Bank lifted its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 36.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 125,740 shares of the data storage provider's stock after purchasing an additional 33,500 shares during the period. Toronto Dominion Bank owned about 0.06% of NetApp worth $14,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in NetApp in the fourth quarter valued at $26,000. Assetmark Inc. boosted its holdings in shares of NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after buying an additional 215 shares in the last quarter. Synergy Investment Management LLC bought a new stake in shares of NetApp during the 4th quarter valued at $32,000. Itau Unibanco Holding S.A. boosted its holdings in shares of NetApp by 929.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock valued at $32,000 after buying an additional 251 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of NetApp during the 4th quarter valued at $35,000. Institutional investors own 92.17% of the company's stock.

Analysts Set New Price Targets

NTAP has been the subject of several recent analyst reports. Citigroup lifted their price target on NetApp from $90.00 to $105.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Keefe, Bruyette & Woods upgraded NetApp to an "outperform" rating in a research note on Wednesday, February 19th. Loop Capital cut their price target on NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Susquehanna downgraded NetApp from a "positive" rating to a "neutral" rating and cut their price target for the company from $155.00 to $130.00 in a research note on Monday, February 10th. Finally, Evercore ISI cut their price objective on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $118.93.

NetApp Stock Down 0.5%

Shares of NTAP stock traded down $0.53 during trading hours on Friday, reaching $98.68. 7,013,958 shares of the company's stock were exchanged, compared to its average volume of 1,943,942. The stock's fifty day moving average price is $90.11 and its two-hundred day moving average price is $107.25. The stock has a market cap of $20.07 billion, a PE ratio of 18.14, a PEG ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. 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 (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.80 EPS. Research analysts predict that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, July 3rd. NetApp's payout ratio is 38.52%.

Insider Buying and Selling

In other news, Director Anders Gustafsson bought 2,800 shares of the stock in a transaction on Thursday, March 27th. The shares were bought at an average price of $91.00 per share, with a total value of $254,800.00. Following the completion of the acquisition, the director now owns 6,348 shares of the company's stock, valued at approximately $577,668. This trade represents a 78.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 directly owns 12,900 shares in the company, valued at approximately $1,194,282. The trade was a 3.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,724 shares of company stock valued at $2,520,032. 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.