NetApp, Inc. (NASDAQ:NTAP – Get Free Report) EVP Elizabeth M. O’callahan sold 871 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $76.20, for a total transaction of $66,370.20. Following the sale, the executive vice president now directly owns 11,899 shares of the company’s stock, valued at approximately $906,703.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
NetApp Stock Down 1.3 %
NetApp stock opened at $74.96 on Friday. The stock has a market cap of $15.65 billion, a P/E ratio of 13.56, a P/E/G ratio of 2.12 and a beta of 1.20. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 2.74. NetApp, Inc. has a twelve month low of $58.08 and a twelve month high of $80.53. The company’s 50-day moving average price is $76.57 and its two-hundred day moving average price is $72.47.
NetApp (NASDAQ:NTAP – Get Free Report) last announced its earnings results on Wednesday, August 23rd. The data storage provider reported $1.15 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.41 billion. During the same period last year, the firm earned $0.97 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, analysts expect that NetApp, Inc. will post 4.48 EPS for the current year.
NetApp Announces Dividend
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in NTAP. Private Advisor Group LLC increased its stake in NetApp by 66.3% in the first quarter. Private Advisor Group LLC now owns 7,740 shares of the data storage provider’s stock valued at $643,000 after acquiring an additional 3,086 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in NetApp by 6.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,741 shares of the data storage provider’s stock valued at $2,469,000 after acquiring an additional 1,672 shares during the last quarter. Sei Investments Co. increased its stake in NetApp by 0.8% in the first quarter. Sei Investments Co. now owns 139,507 shares of the data storage provider’s stock valued at $11,563,000 after acquiring an additional 1,086 shares during the last quarter. Aviva PLC increased its stake in NetApp by 41.0% in the first quarter. Aviva PLC now owns 98,770 shares of the data storage provider’s stock valued at $8,198,000 after acquiring an additional 28,705 shares during the last quarter. Finally, Prudential PLC bought a new position in NetApp in the first quarter valued at approximately $465,000. 90.25% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
NTAP has been the subject of a number of research analyst reports. Morgan Stanley raised shares of NetApp from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $60.00 to $74.00 in a research note on Wednesday, July 26th. Wedbush reaffirmed a “neutral” rating and issued a $75.00 target price on shares of NetApp in a research note on Thursday, August 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of NetApp from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, August 21st. UBS Group upped their target price on shares of NetApp from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, August 24th. Finally, Northland Securities reduced their target price on shares of NetApp from $89.00 to $88.00 and set an “outperform” rating for the company in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, NetApp presently has a consensus rating of “Hold” and a consensus price target of $78.35.
Get Our Latest Analysis on NetApp
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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