NetApp, Inc. $NTAP Shares Sold by TD Asset Management Inc

TD Asset Management Inc decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 12.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,594,660 shares of the data storage provider’s stock after selling 224,639 shares during the quarter. TD Asset Management Inc’s holdings in NetApp were worth $188,903,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in NTAP. Abich Financial Wealth Management LLC purchased a new position in shares of NetApp in the 3rd quarter valued at about $27,000. Rossby Financial LCC grew its position in NetApp by 105.5% during the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after buying an additional 115 shares during the period. SouthState Corp grew its position in NetApp by 434.5% during the second quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock worth $31,000 after buying an additional 239 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in NetApp in the second quarter valued at about $34,000. Finally, NewSquare Capital LLC lifted its position in shares of NetApp by 951.4% during the 2nd quarter. NewSquare Capital LLC now owns 368 shares of the data storage provider’s stock valued at $39,000 after acquiring an additional 333 shares during the period. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Stock Up 2.0%

Shares of NASDAQ:NTAP opened at $101.88 on Thursday. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. The firm has a market cap of $20.18 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 3.46 and a beta of 1.38. The stock’s 50-day moving average price is $103.62 and its two-hundred day moving average price is $111.40. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $127.78.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.17. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the firm posted $1.87 EPS. The company’s revenue was up 2.8% on a year-over-year basis. On average, research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NTAP shares. Citigroup lowered their price target on NetApp from $125.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th. Northland Securities set a $137.00 target price on NetApp and gave the company an “outperform” rating in a report on Wednesday, November 26th. Bank of America lifted their price target on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Wells Fargo & Company boosted their price objective on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research report on Wednesday, November 26th. Finally, UBS Group raised their target price on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.21.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total transaction of $103,450.00. Following the transaction, the executive vice president owned 20,075 shares of the company’s stock, valued at $2,076,758.75. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.28% of the company’s stock.

NetApp Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.