TD Private Client Wealth LLC Lowers Stock Holdings in NetApp, Inc. $NTAP

TD Private Client Wealth LLC decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 6.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,568 shares of the data storage provider’s stock after selling 184 shares during the quarter. TD Private Client Wealth LLC’s holdings in NetApp were worth $274,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NTAP. Manchester Capital Management LLC lifted its stake in shares of NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after buying an additional 225 shares in the last quarter. 1248 Management LLC purchased a new position in shares of NetApp during the 1st quarter valued at $25,000. Olde Wealth Management LLC purchased a new position in shares of NetApp during the 1st quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of NetApp by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after buying an additional 124 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in NetApp in the 1st quarter worth $36,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the topic of several research analyst reports. UBS Group boosted their price target on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Morgan Stanley set a $117.00 price target on shares of NetApp in a research note on Thursday, August 28th. Barclays boosted their price target on shares of NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Bank of America boosted their price target on shares of NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, August 25th. Finally, Citigroup boosted their price target on shares of NetApp from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $124.07.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the sale, the chief executive officer directly owned 274,938 shares in the company, valued at $33,792,629.58. The trade was a 3.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total transaction of $123,670.00. Following the completion of the sale, the executive vice president owned 23,628 shares in the company, valued at approximately $2,922,074.76. This trade represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,750 shares of company stock worth $3,255,778. Insiders own 0.28% of the company’s stock.

NetApp Stock Performance

NetApp stock opened at $119.88 on Monday. The company’s 50-day moving average price is $113.04 and its 200-day moving average price is $101.90. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. The company has a market cap of $23.93 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 2.60 and a beta of 1.46.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be issued a $0.52 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. NetApp’s payout ratio is 36.75%.

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.