NetApp, Inc. (NASDAQ:NTAP) has been assigned an average rating of “Hold” from the thirty-five analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $49.54.
Several equities research analysts have recently commented on the company. Argus upped their price objective on NetApp from $46.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. ValuEngine upgraded NetApp from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. BMO Capital Markets reiterated a “hold” rating and issued a $43.00 price target on shares of NetApp in a research note on Wednesday, November 15th. UBS AG reiterated a “buy” rating and issued a $52.00 price target (up previously from $45.00) on shares of NetApp in a research note on Thursday, November 16th. Finally, Robert W. Baird reiterated a “hold” rating on shares of NetApp in a research note on Thursday, November 16th.
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In other news, Director George T. Shaheen sold 36,916 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $53.10, for a total transaction of $1,960,239.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 4,570 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $37.98, for a total transaction of $173,568.60. Following the transaction, the chief executive officer now directly owns 23,028 shares in the company, valued at $874,603.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,630 shares of company stock worth $9,379,249. Corporate insiders own 0.47% of the company’s stock.
Large investors have recently modified their holdings of the company. Exane Derivatives increased its position in shares of NetApp by 59,850.0% during the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after acquiring an additional 2,394 shares during the period. First Personal Financial Services increased its position in shares of NetApp by 27,540.0% during the third quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock worth $121,000 after acquiring an additional 2,754 shares during the period. Krilogy Financial LLC purchased a new position in shares of NetApp during the second quarter worth approximately $122,000. Quantbot Technologies LP purchased a new position in shares of NetApp during the third quarter worth approximately $131,000. Finally, FTB Advisors Inc. increased its holdings in NetApp by 50.2% during the third quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock valued at $199,000 after buying an additional 1,519 shares during the period. 97.27% of the stock is currently owned by institutional investors and hedge funds.
NetApp (NASDAQ:NTAP) traded up $0.35 during trading hours on Thursday, hitting $55.08. The stock had a trading volume of 3,462,210 shares, compared to its average volume of 2,989,953. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64. The stock has a market cap of $14,860.00, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16. NetApp has a 52-week low of $34.72 and a 52-week high of $55.50.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. NetApp’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. research analysts anticipate that NetApp will post 2.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is presently 34.33%.
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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