Tealwood Asset Management Inc. Has $2.64 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Tealwood Asset Management Inc. grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 22,723 shares of the data storage provider’s stock after acquiring an additional 243 shares during the period. NetApp comprises 1.1% of Tealwood Asset Management Inc.’s holdings, making the stock its 25th largest holding. Tealwood Asset Management Inc.’s holdings in NetApp were worth $2,638,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. AQR Capital Management LLC raised its position in NetApp by 59.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock worth $211,637,000 after purchasing an additional 613,583 shares during the last quarter. Geode Capital Management LLC raised its position in shares of NetApp by 8.2% during the third quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock worth $738,280,000 after acquiring an additional 453,324 shares during the last quarter. APG Asset Management US Inc. bought a new position in shares of NetApp during the second quarter worth about $48,074,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of NetApp by 38.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,232,852 shares of the data storage provider’s stock worth $152,270,000 after acquiring an additional 342,415 shares during the period. Finally, Unigestion Holding SA boosted its holdings in NetApp by 926.1% in the third quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider’s stock valued at $35,022,000 after acquiring an additional 256,028 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Lorenzo Daniel De sold 326 shares of NetApp stock in a transaction on Monday, November 18th. The stock was sold at an average price of $117.44, for a total transaction of $38,285.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,159 shares of company stock valued at $6,096,859. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NTAP. Oppenheimer started coverage on shares of NetApp in a research report on Wednesday, November 13th. They issued a “market perform” rating on the stock. TD Cowen boosted their target price on shares of NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Stifel Nicolaus increased their price target on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Wedbush reissued a “neutral” rating and issued a $120.00 price objective on shares of NetApp in a research note on Friday, November 22nd. Finally, Northland Securities raised their target price on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $139.20.

NetApp Stock Performance

Shares of NTAP opened at $114.92 on Tuesday. The firm has a market capitalization of $23.36 billion, a P/E ratio of 21.13, a P/E/G ratio of 2.92 and a beta of 1.23. NetApp, Inc. has a 52 week low of $83.80 and a 52 week high of $135.45. The stock has a 50 day moving average price of $121.01 and a two-hundred day moving average price of $123.05. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.09. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. NetApp’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.23 earnings per share. Equities analysts forecast that NetApp, Inc. will post 5.83 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, January 3rd. NetApp’s dividend payout ratio (DPR) is presently 38.24%.

NetApp Company 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.