Todd Asset Management LLC Has $23.48 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Todd Asset Management LLC lowered its stake in NetApp, Inc. (NASDAQ:NTAP) by 3.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 266,292 shares of the data storage provider’s stock after selling 9,125 shares during the period. Todd Asset Management LLC owned approximately 0.13% of NetApp worth $23,476,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NTAP. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of NetApp by 65.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,615 shares of the data storage provider’s stock valued at $7,812,000 after acquiring an additional 35,172 shares during the period. Nordea Investment Management AB grew its position in shares of NetApp by 26.1% during the 4th quarter. Nordea Investment Management AB now owns 317,073 shares of the data storage provider’s stock worth $27,855,000 after purchasing an additional 65,644 shares in the last quarter. Vest Financial LLC grew its position in shares of NetApp by 24.1% during the 4th quarter. Vest Financial LLC now owns 147,518 shares of the data storage provider’s stock worth $13,005,000 after purchasing an additional 28,609 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of NetApp by 2.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 86,556 shares of the data storage provider’s stock worth $6,568,000 after purchasing an additional 1,875 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of NetApp in the third quarter valued at approximately $817,000. 92.17% of the stock is owned by institutional investors.

Insider Transactions at NetApp

In related news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $101.44, for a total value of $862,240.00. Following the sale, the chief executive officer now directly owns 261,202 shares in the company, valued at $26,496,330.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Michael J. Berry sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $102.67, for a total value of $1,540,050.00. Following the transaction, the chief financial officer now directly owns 144,909 shares of the company’s stock, valued at approximately $14,877,807.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $101.44, for a total value of $862,240.00. Following the sale, the chief executive officer now owns 261,202 shares in the company, valued at approximately $26,496,330.88. The disclosure for this sale can be found here. Insiders sold 40,371 shares of company stock worth $4,139,505 over the last ninety days. 0.37% of the stock is owned by insiders.

NetApp Trading Up 2.5 %

Shares of NetApp stock traded up $2.52 on Friday, hitting $104.64. The stock had a trading volume of 2,463,599 shares, compared to its average volume of 1,409,802. The stock has a 50 day moving average of $101.88 and a 200 day moving average of $90.19. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15. NetApp, Inc. has a twelve month low of $61.54 and a twelve month high of $112.48. The firm has a market capitalization of $21.60 billion, a P/E ratio of 23.78, a PEG ratio of 2.18 and a beta of 1.27.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.25. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the prior year, the company posted $1.02 EPS. The company’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts expect that NetApp, Inc. will post 5.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.00 annualized dividend and a dividend yield of 1.91%. NetApp’s payout ratio is 45.45%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NTAP shares. JPMorgan Chase & Co. raised their price objective on NetApp from $87.00 to $95.00 and gave the stock an “underweight” rating in a research note on Friday, March 1st. Stifel Nicolaus reissued a “buy” rating and issued a $120.00 target price (up from $105.00) on shares of NetApp in a report on Friday, March 1st. StockNews.com downgraded shares of NetApp from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Wedbush lifted their price objective on shares of NetApp from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Finally, Barclays upped their target price on NetApp from $80.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $100.60.

About NetApp

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.