NetApp, Inc. (NASDAQ:NTAP) has been assigned an average recommendation of “Hold” from the thirty-five ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, nineteen have issued a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $49.54.
Several research firms have issued reports on NTAP. Robert W. Baird reaffirmed a “hold” rating on shares of NetApp in a report on Thursday. BidaskClub downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. DA Davidson increased their price objective on shares of NetApp from $53.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, November 14th. Barclays PLC reaffirmed an “overweight” rating and set a $56.00 price objective (up from $52.00) on shares of NetApp in a report on Thursday. Finally, ValuEngine raised shares of NetApp from a “hold” rating to a “buy” rating in a report on Thursday.
In other NetApp news, SVP Matthew K. Fawcett sold 29,845 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $46.60, for a total transaction of $1,390,777.00. Following the completion of the transaction, the senior vice president now owns 31,962 shares in the company, valued at approximately $1,489,429.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO George Kurian sold 4,570 shares of the business’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 owns 23,028 shares of the company’s stock, valued at approximately $874,603.44. The disclosure for this sale can be found here. Insiders have sold a total of 74,343 shares of company stock valued at $3,302,273 in the last quarter. 0.47% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of NTAP. Exane Derivatives grew its holdings in NetApp by 59,850.0% during the 3rd 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 in the last quarter. First Personal Financial Services grew its holdings in NetApp by 27,540.0% during the 3rd 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 in the last quarter. Krilogy Financial LLC acquired a new position in NetApp during the 2nd quarter worth approximately $122,000. Quantbot Technologies LP acquired a new position in NetApp during the 3rd quarter worth approximately $131,000. Finally, FTB Advisors Inc. grew its holdings in NetApp by 50.2% during the 3rd quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock worth $199,000 after acquiring an additional 1,519 shares in the last quarter. Institutional investors own 97.27% of the company’s stock.
NetApp (NASDAQ:NTAP) traded down $0.16 during mid-day trading on Thursday, reaching $52.95. 5,664,483 shares of the company traded hands, compared to its average volume of 3,093,845. The firm has a market capitalization of $14,283.67, a price-to-earnings ratio of 19.91, a PEG ratio of 1.85 and a beta of 1.16. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55. NetApp has a 52 week low of $34.72 and a 52 week high of $54.72.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.12. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. research analysts predict that NetApp will post 2.53 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.51%. The ex-dividend date is Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is presently 34.33%.
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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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