A number of other equities research analysts have also recently commented on NTAP. Bank of America Corp set a $40.00 target price on NetApp and gave the company a hold rating in a report on Monday, December 5th. Susquehanna Bancshares Inc reiterated a positive rating and set a $46.00 target price (up previously from $42.00) on shares of NetApp in a report on Tuesday, December 6th. Needham & Company LLC reiterated a hold rating on shares of NetApp in a report on Tuesday, December 6th. Robert W. Baird reiterated a neutral rating and set a $40.00 target price (up previously from $37.00) on shares of NetApp in a report on Tuesday, December 6th. Finally, Jefferies Group LLC reiterated a hold rating and set a $38.00 target price (up previously from $34.00) on shares of NetApp in a report on Tuesday, December 6th. Seven research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. NetApp has an average rating of Hold and an average price target of $40.16.
Shares of NetApp (NASDAQ:NTAP) traded down 2.03% on Monday, hitting $39.49. The company had a trading volume of 1,859,418 shares. The stock’s 50-day moving average is $41.22 and its 200 day moving average is $37.52. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 36.06 and a beta of 1.50. NetApp has a 52 week low of $22.50 and a 52 week high of $43.14.
NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, February 15th. The data storage provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. NetApp had a return on equity of 15.66% and a net margin of 5.89%. The firm earned $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the business posted $0.70 EPS. Equities analysts expect that NetApp will post $2.70 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Friday, April 7th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Wednesday, April 5th. NetApp’s dividend payout ratio is currently 69.09%.
In related news, CEO George Kurian sold 4,000 shares of the company’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $41.53, for a total value of $166,120.00. Following the completion of the sale, the chief executive officer now directly owns 24,396 shares in the company, valued at $1,013,165.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan L. Earhart sold 27,422 shares of the company’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $42.46, for a total transaction of $1,164,338.12. Following the completion of the sale, the director now owns 21,611 shares of the company’s stock, valued at $917,603.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,422 shares of company stock worth $1,484,458. 0.49% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Dodge & Cox acquired a new stake in shares of NetApp during the fourth quarter worth about $812,244,000. State Street Corp boosted its stake in shares of NetApp by 2.3% in the fourth quarter. State Street Corp now owns 12,938,754 shares of the data storage provider’s stock worth $456,344,000 after buying an additional 289,680 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of NetApp by 2.9% in the third quarter. BlackRock Fund Advisors now owns 5,001,396 shares of the data storage provider’s stock worth $179,150,000 after buying an additional 142,765 shares in the last quarter. Norges Bank acquired a new stake in shares of NetApp during the fourth quarter worth about $116,685,000. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of NetApp by 18.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,604,222 shares of the data storage provider’s stock worth $91,851,000 after buying an additional 403,752 shares in the last quarter. Hedge funds and other institutional investors own 92.52% of the company’s stock.
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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