Shares of NetApp Inc. (NASDAQ:NTAP) have received a consensus rating of “Buy” from the thirty-three analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $57.05.
Several brokerages recently weighed in on NTAP. Barclays reiterated an “overweight” rating and issued a $56.00 price target (up previously from $52.00) on shares of NetApp in a report on Thursday, November 16th. Zacks Investment Research upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, February 13th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $60.00 price target on shares of NetApp in a report on Thursday, November 16th. Morgan Stanley upgraded shares of NetApp from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $41.00 to $64.00 in a report on Tuesday, January 23rd. Finally, DA Davidson raised shares of NetApp from a “neutral” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Thursday, February 15th.
Shares of NetApp (NASDAQ NTAP) traded up $1.03 during trading hours on Friday, reaching $59.62. 3,203,184 shares of the company traded hands, compared to its average volume of 3,610,000. NetApp has a one year low of $37.43 and a one year high of $64.06. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.71. The firm has a market cap of $16,190.00, a P/E ratio of -745.25, a PEG ratio of 1.86 and a beta of 1.33.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.08. NetApp had a negative net margin of 0.09% and a positive return on equity of 29.38%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned $0.82 EPS. research analysts anticipate that NetApp will post 2.91 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Friday, April 6th will be paid a $0.20 dividend. The ex-dividend date is Thursday, April 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. NetApp’s dividend payout ratio is currently -1,000.00%.
In related news, Director Thomas Michael Nevens sold 20,000 shares of NetApp stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $55.67, for a total value of $1,113,400.00. Following the sale, the director now owns 17,000 shares of the company’s stock, valued at approximately $946,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Kurian sold 7,020 shares of NetApp stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.48, for a total transaction of $417,549.60. The disclosure for this sale can be found here. Insiders sold a total of 61,342 shares of company stock worth $3,491,981 in the last three months. 0.47% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. First Personal Financial Services lifted its holdings in NetApp by 27,540.0% in the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock valued at $121,000 after purchasing an additional 2,754 shares in the last quarter. Quantbot Technologies LP purchased a new position in NetApp in the 3rd quarter valued at $131,000. IFP Advisors Inc lifted its holdings in NetApp by 45.3% in the 4th quarter. IFP Advisors Inc now owns 2,571 shares of the data storage provider’s stock valued at $142,000 after purchasing an additional 801 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in NetApp by 227.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,286 shares of the data storage provider’s stock valued at $182,000 after purchasing an additional 2,282 shares in the last quarter. Finally, FTB Advisors Inc. lifted its holdings in NetApp by 50.2% in the 3rd quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock valued at $199,000 after purchasing an additional 1,519 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.
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NetApp Company Profile
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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