Todd Asset Management LLC Decreases Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Todd Asset Management LLC lessened its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 266,292 shares of the data storage provider's stock after selling 9,125 shares during the quarter. Todd Asset Management LLC owned about 0.13% of NetApp worth $23,476,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. LSV Asset Management grew its position in NetApp by 1.6% in the fourth quarter. LSV Asset Management now owns 627,383 shares of the data storage provider's stock worth $55,310,000 after acquiring an additional 9,912 shares during the period. Merit Financial Group LLC grew its position in NetApp by 19.9% in the fourth quarter. Merit Financial Group LLC now owns 8,479 shares of the data storage provider's stock worth $748,000 after acquiring an additional 1,405 shares during the period. Amalgamated Bank grew its position in NetApp by 7.1% in the fourth quarter. Amalgamated Bank now owns 65,825 shares of the data storage provider's stock worth $5,803,000 after acquiring an additional 4,386 shares during the period. Summit Global Investments purchased a new position in NetApp in the fourth quarter worth approximately $412,000. Finally, Los Angeles Capital Management LLC grew its position in NetApp by 1,075.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 649,570 shares of the data storage provider's stock worth $57,266,000 after acquiring an additional 594,323 shares during the period. Institutional investors and hedge funds own 92.17% of the company's stock.

NetApp Stock Performance

Shares of NTAP traded up $2.52 during midday trading on Friday, reaching $104.64. 2,463,599 shares of the stock were exchanged, compared to its average volume of 1,409,802. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 1.11. NetApp, Inc. has a twelve month low of $61.54 and a twelve month high of $112.48. The business's 50-day moving average price is $101.88 and its 200 day moving average price is $90.39. The company has a market capitalization of $21.60 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 2.18 and a beta of 1.27.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.69 by $0.25. NetApp had a return on equity of 109.49% and a net margin of 15.21%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the company earned $1.02 EPS. The company's quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that NetApp, Inc. will post 5.16 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Friday, April 5th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 1.91%. NetApp's dividend payout ratio (DPR) is 45.45%.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O'callahan sold 871 shares of the company's stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total value of $89,730.42. Following the completion of the sale, the executive vice president now owns 9,601 shares in the company, valued at approximately $989,095.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Michael J. Berry sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $102.75, for a total transaction of $770,625.00. Following the transaction, the chief financial officer now directly owns 152,409 shares in the company, valued at $15,660,024.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O'callahan sold 871 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total transaction of $89,730.42. Following the completion of the transaction, the executive vice president now owns 9,601 shares in the company, valued at $989,095.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,371 shares of company stock worth $4,139,505. 0.37% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Raymond James reiterated a "market perform" rating on shares of NetApp in a research report on Tuesday, January 16th. UBS Group raised their price target on NetApp from $93.00 to $96.00 and gave the stock a "neutral" rating in a research report on Friday, March 1st. Argus upgraded NetApp from a "hold" rating to a "buy" rating and set a $130.00 price target for the company in a research report on Monday, March 4th. TD Cowen raised their price target on NetApp from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, March 1st. Finally, Wedbush raised their price target on NetApp from $85.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $100.60.

NetApp 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.