Toronto Dominion Bank Buys 33,500 Shares of NetApp, Inc. (NASDAQ:NTAP)

Toronto Dominion Bank increased its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 36.3% in the 4th quarter, according to the company in its most recent filing 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 quarter. Toronto Dominion Bank owned approximately 0.06% of NetApp worth $14,594,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of NetApp by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock worth $3,069,617,000 after buying an additional 429,343 shares during the last quarter. Ameriprise Financial Inc. lifted its position in NetApp by 14.5% during the 4th quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider's stock worth $815,402,000 after acquiring an additional 888,671 shares during the last quarter. Invesco Ltd. lifted its position in NetApp by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider's stock worth $362,544,000 after acquiring an additional 529,471 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its holdings in NetApp by 0.4% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider's stock valued at $335,215,000 after acquiring an additional 12,919 shares during the period. Finally, Northern Trust Corp grew its position in shares of NetApp by 24.2% in the fourth quarter. Northern Trust Corp now owns 2,824,327 shares of the data storage provider's stock valued at $327,848,000 after purchasing an additional 550,607 shares during the last quarter. Institutional investors own 92.17% of the company's stock.

Wall Street Analyst Weigh In

NTAP has been the subject of several recent analyst reports. Wedbush restated a "neutral" rating and set a $110.00 target price (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Evercore ISI reduced their price objective on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a research report on Monday, April 28th. TD Cowen lowered their price objective on shares of NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Barclays upgraded shares of NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 target price for the company in a research note on Wednesday, April 30th. Finally, Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and increased their price target for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $124.07.

Insider Buying and Selling at NetApp

In related news, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $81.83, for a total transaction of $695,555.00. Following the completion of the sale, the chief executive officer now owns 249,765 shares in the company, valued at $20,438,269.95. This trade represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Elizabeth M. O'callahan sold 528 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the completion of the transaction, the executive vice president now owns 12,900 shares in the company, valued at approximately $1,194,282. This trade represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,724 shares of company stock valued at $2,520,032. 0.47% of the stock is currently owned by company insiders.

NetApp Trading Up 1.0%

Shares of NTAP opened at $101.53 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The stock has a market cap of $20.65 billion, a PE ratio of 18.66, 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 stock has a 50 day simple moving average of $89.01 and a 200-day simple moving average of $108.24.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.05%. NetApp's dividend payout ratio is currently 38.52%.

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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