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

TD Asset Management Inc reduced its stake in NetApp, Inc. (NASDAQ:NTAP) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,594,660 shares of the data storage provider’s stock after selling 224,639 shares during the period. TD Asset Management Inc owned 0.80% of NetApp worth $188,903,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NTAP. Ascent Group LLC grew its position in shares of NetApp by 1.5% in the 3rd quarter. Ascent Group LLC now owns 6,084 shares of the data storage provider’s stock valued at $721,000 after buying an additional 90 shares during the last quarter. Caliber Wealth Management LLC KS boosted its stake in NetApp by 5.0% in the third quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider’s stock valued at $249,000 after acquiring an additional 100 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of NetApp by 19.2% during the second quarter. Parkside Financial Bank & Trust now owns 647 shares of the data storage provider’s stock worth $69,000 after purchasing an additional 104 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in shares of NetApp by 2.0% during the third quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider’s stock worth $655,000 after purchasing an additional 106 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of NetApp by 2.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,531 shares of the data storage provider’s stock valued at $537,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. The Goldman Sachs Group started coverage on NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 price target on the stock. Bank of America raised their target price on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a research report on Wednesday, November 26th. Wells Fargo & Company increased their price target on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research note on Wednesday, November 26th. Finally, Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of NetApp in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.21.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total transaction of $103,450.00. Following the completion of the transaction, the executive vice president directly owned 20,075 shares of the company’s stock, valued at $2,076,758.75. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.28% of the stock is currently owned by company insiders.

NetApp Stock Performance

NASDAQ:NTAP opened at $101.88 on Thursday. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30. The firm has a market cap of $20.18 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 3.46 and a beta of 1.38. The firm’s fifty day moving average price is $103.62 and its 200 day moving average price is $111.40. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $127.78.

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

About NetApp

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.