NetApp, Inc. (NASDAQ:NTAP) EVP Henri P. Richard sold 1,976 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $44.62, for a total value of $88,169.12. Following the completion of the sale, the executive vice president now directly owns 13,860 shares of the company’s stock, valued at approximately $618,433.20. The transaction was disclosed in a document filed with the SEC, which is available through this link.
NetApp, Inc. (NTAP) traded down $0.29 during mid-day trading on Friday, reaching $44.24. The company had a trading volume of 2,055,137 shares, compared to its average volume of 2,480,000. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. NetApp, Inc. has a 12 month low of $30.36 and a 12 month high of $45.24. The firm has a market cap of $11.93 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $0.46 EPS. NetApp’s revenue was up 2.4% compared to the same quarter last year. equities research analysts anticipate that NetApp, Inc. will post 2.49 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Friday, October 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.81%. The ex-dividend date was Thursday, October 5th. NetApp’s payout ratio is 38.46%.
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A number of analysts have recently weighed in on the company. Credit Suisse Group raised their price objective on NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 9th. Longbow Research raised NetApp from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, August 15th. Barclays PLC raised their price objective on NetApp from $35.00 to $38.00 and gave the stock an “underweight” rating in a research report on Thursday, August 17th. BidaskClub cut NetApp from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $62.00 price objective (up previously from $60.00) on shares of NetApp in a research report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and thirteen have assigned a buy rating to the stock. NetApp currently has a consensus rating of “Hold” and a consensus price target of $45.12.
Institutional investors have recently modified their holdings of the company. Exane Derivatives boosted its holdings in shares of 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 purchasing an additional 2,394 shares during the last quarter. First Personal Financial Services boosted its holdings in shares of 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 purchasing an additional 2,754 shares during the last quarter. Krilogy Financial LLC acquired a new position in shares of NetApp during the 2nd quarter worth approximately $122,000. Pillar Pacific Capital Management LLC acquired a new position in shares of NetApp during the 3rd quarter worth approximately $206,000. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of NetApp by 3.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,189 shares of the data storage provider’s stock worth $208,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 92.81% of the company’s stock.
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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