NetApp, Inc. (NASDAQ:NTAP – Get Free Report) Director Thomas Michael Nevens sold 7,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $75.80, for a total transaction of $530,600.00. Following the completion of the transaction, the director now owns 14,789 shares in the company, valued at $1,121,006.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
NetApp Trading Down 0.1 %
Shares of NASDAQ:NTAP opened at $75.47 on Friday. NetApp, Inc. has a 52 week low of $58.08 and a 52 week high of $80.53. The company’s 50 day moving average is $76.82 and its two-hundred day moving average is $71.90. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 2.74. The company has a market cap of $15.76 billion, a PE ratio of 13.65, a P/E/G ratio of 2.11 and a beta of 1.20.
NetApp (NASDAQ:NTAP – Get Free Report) last announced its quarterly earnings data on Wednesday, August 23rd. The data storage provider reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.08. NetApp had a net margin of 19.49% and a return on equity of 85.69%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the firm posted $0.97 EPS. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. Equities analysts predict that NetApp, Inc. will post 4.48 earnings per share for the current fiscal year.
NetApp Announces Dividend
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $75.00 target price on shares of NetApp in a report on Thursday, August 24th. StockNews.com began coverage on shares of NetApp in a report on Thursday. They issued a “hold” rating on the stock. Citigroup upped their price objective on shares of NetApp from $80.00 to $83.00 and gave the stock a “neutral” rating in a report on Thursday, August 24th. Evercore ISI upped their price objective on shares of NetApp from $72.00 to $80.00 in a report on Wednesday, July 5th. Finally, Morgan Stanley upgraded shares of NetApp from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $60.00 to $74.00 in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, NetApp currently has an average rating of “Hold” and a consensus target price of $78.35.
View Our Latest Analysis on NTAP
Institutional Investors Weigh In On NetApp
A number of large investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its position in shares of NetApp by 52.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 443 shares of the data storage provider’s stock valued at $28,000 after buying an additional 152 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in shares of NetApp in the 1st quarter valued at $28,000. Global Retirement Partners LLC grew its position in shares of NetApp by 51.6% in the 1st quarter. Global Retirement Partners LLC now owns 464 shares of the data storage provider’s stock valued at $29,000 after buying an additional 158 shares during the last quarter. Caldwell Sutter Capital Inc. purchased a new position in shares of NetApp in the 1st quarter valued at $34,000. Finally, HHM Wealth Advisors LLC grew its position in shares of NetApp by 157.4% in the 1st quarter. HHM Wealth Advisors LLC now owns 785 shares of the data storage provider’s stock valued at $50,000 after buying an additional 480 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.
About NetApp
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.
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