A number of other equities analysts have also weighed in on NTAP. Oppenheimer Holdings Inc. reaffirmed a hold rating on shares of NetApp in a research note on Sunday, May 29th. Summit Redstone reissued a sell rating on shares of NetApp in a research report on Tuesday, June 21st. Jefferies Group reissued a hold rating and set a $29.00 price target (up from $24.00) on shares of NetApp in a research report on Thursday, August 18th. Citigroup Inc. boosted their price target on shares of NetApp from $26.00 to $31.00 and gave the stock a neutral rating in a research report on Thursday, August 18th. Finally, BTIG Research reissued a neutral rating on shares of NetApp in a research report on Thursday, August 18th. Eleven equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $29.64.
Shares of NetApp (NASDAQ:NTAP) opened at 35.15 on Monday. The firm’s 50-day moving average price is $33.89 and its 200 day moving average price is $27.36. The firm has a market cap of $9.80 billion, a PE ratio of 31.64 and a beta of 1.56. NetApp has a 52 week low of $20.66 and a 52 week high of $36.10.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 17th. The data storage provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.10. The firm earned $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. NetApp had a net margin of 5.87% and a return on equity of 15.82%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 EPS. Equities analysts anticipate that NetApp will post $2.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Friday, October 7th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, October 5th. NetApp’s dividend payout ratio is 68.47%.
In other NetApp news, Director Jeffry R. Allen sold 15,000 shares of NetApp stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $34.82, for a total value of $522,300.00. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $522,300. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffry R. Allen sold 10,980 shares of NetApp stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $35.24, for a total transaction of $386,935.20. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $528,600. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc raised its stake in shares of NetApp by 0.3% in the second quarter. CIBC Asset Management Inc now owns 42,618 shares of the data storage provider’s stock valued at $1,048,000 after buying an additional 120 shares in the last quarter. World Asset Management Inc raised its stake in NetApp by 0.6% in the second quarter. World Asset Management Inc now owns 29,471 shares of the data storage provider’s stock valued at $725,000 after buying an additional 185 shares during the period. Thrivent Financial for Lutherans raised its stake in NetApp by 3.2% in the second quarter. Thrivent Financial for Lutherans now owns 8,840 shares of the data storage provider’s stock valued at $217,000 after buying an additional 270 shares during the period. Advantus Capital Management Inc raised its stake in NetApp by 1.2% in the second quarter. Advantus Capital Management Inc now owns 28,040 shares of the data storage provider’s stock valued at $690,000 after buying an additional 329 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in NetApp by 2.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 22,560 shares of the data storage provider’s stock valued at $554,000 after buying an additional 450 shares during the period. 89.54% of the stock is currently owned by institutional investors and hedge funds.
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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