TD Asset Management Inc Has $159.23 Million Holdings in NetApp, Inc. $NTAP

TD Asset Management Inc lessened its position in NetApp, Inc. (NASDAQ:NTAP) by 6.8% in the fourth quarter, HoldingsChannel reports. The fund owned 1,486,887 shares of the data storage provider’s stock after selling 107,773 shares during the quarter. TD Asset Management Inc’s holdings in NetApp were worth $159,231,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Caliber Wealth Management LLC KS grew 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 during the period. Park Square Financial Group LLC grew its stake in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 103 shares during the period. Transcend Capital Advisors LLC grew its stake in NetApp by 5.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock valued at $209,000 after acquiring an additional 107 shares during the period. Fifth Third Bancorp grew its stake in NetApp by 0.9% in the fourth quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock valued at $1,345,000 after acquiring an additional 108 shares during the period. Finally, US Bancorp DE grew its stake in NetApp by 0.7% in the third quarter. US Bancorp DE now owns 15,398 shares of the data storage provider’s stock valued at $1,824,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp’s updated fiscal 2027 guidance points to improved margins and higher earnings potential, which investors are viewing as the main driver behind the stock’s recent strength.
• Positive Sentiment: The company announced new collaborations with Cisco to expand secure, simplified AI solutions and strengthen cyber resilience, which could help NetApp benefit from enterprise AI spending. NetApp and Cisco Accelerate and Secure AI Innovation
• Positive Sentiment: NetApp has also been drawing analyst and investor attention after its earnings call, with questions centered on the company’s AI opportunity, margins, and growth outlook. The 5 Most Interesting Analyst Questions From NetApp’s Q1 Earnings Call

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NTAP shares. UBS Group reaffirmed a “neutral” rating and set a $160.00 target price on shares of NetApp in a research report on Friday, May 29th. Susquehanna lifted their target price on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Citigroup lifted their target price on NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $200.00 target price on shares of NetApp in a research report on Tuesday. Finally, Morgan Stanley lifted their target price on NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a research report on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $169.33.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction of $117,730.00. Following the sale, the executive vice president directly owned 18,382 shares in the company, valued at approximately $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 225 shares of NetApp stock in a transaction on Monday, June 1st. The stock was sold at an average price of $171.09, for a total value of $38,495.25. Following the sale, the chief accounting officer owned 1,090 shares in the company, valued at $186,488.10. This trade represents a 17.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,500 shares of company stock worth $386,145 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.

NetApp Stock Down 1.2%

Shares of NASDAQ:NTAP opened at $178.87 on Friday. The stock has a market cap of $35.30 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 3.32 and a beta of 1.45. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $192.83. The business’s 50 day moving average is $118.57 and its 200 day moving average is $109.85.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. On average, sell-side analysts forecast that NetApp, Inc. will post 7.14 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, July 10th. NetApp’s dividend payout ratio (DPR) is 32.70%.

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.