Investors purchased shares of NetApp Inc. (NASDAQ:NTAP) on weakness during trading on Thursday. $64.62 million flowed into the stock on the tick-up and $37.84 million flowed out of the stock on the tick-down, for a money net flow of $26.78 million into the stock. Of all companies tracked, NetApp had the 32nd highest net in-flow for the day. NetApp traded down ($0.29) for the day and closed at $63.30
Several brokerages have commented on NTAP. Royal Bank of Canada restated a “hold” rating and set a $60.00 target price on shares of NetApp in a research report on Monday, December 11th. ValuEngine lowered shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BMO Capital Markets raised NetApp from a “market perform” rating to an “outperform” rating in a research note on Sunday, November 26th. UBS Group reaffirmed a “buy” rating and set a $62.00 price target (up previously from $52.00) on shares of NetApp in a research note on Wednesday, November 22nd. Finally, Argus lifted their price target on NetApp from $46.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. NetApp presently has a consensus rating of “Hold” and a consensus price target of $50.15.
The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64. The company has a market capitalization of $16,887.92, a price-to-earnings ratio of 27.08, a PEG ratio of 2.02 and a beta of 1.29.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Thursday, January 4th. NetApp’s payout ratio is currently 34.33%.
In other news, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $44.62, for a total transaction of $88,169.12. Following the completion of the sale, the executive vice president now owns 13,860 shares in the company, valued at approximately $618,433.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Michael Nevens sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $55.67, for a total value of $1,113,400.00. Following the sale, the director now owns 17,000 shares of the company’s stock, valued at approximately $946,390. The disclosure for this sale can be found here. Insiders have sold a total of 197,604 shares of company stock valued at $10,389,277 in the last quarter. Company insiders own 0.47% of the company’s stock.
Several large investors have recently modified their holdings of the company. Neuberger Berman Group LLC grew its holdings in shares of NetApp by 0.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 8,201 shares of the data storage provider’s stock worth $328,000 after purchasing an additional 58 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in NetApp by 3.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,189 shares of the data storage provider’s stock worth $208,000 after acquiring an additional 185 shares during the period. PNC Financial Services Group Inc. boosted its holdings in NetApp by 2.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,933 shares of the data storage provider’s stock worth $440,000 after acquiring an additional 228 shares during the period. Nordea Investment Management AB boosted its holdings in NetApp by 0.5% in the 2nd quarter. Nordea Investment Management AB now owns 138,793 shares of the data storage provider’s stock worth $5,559,000 after acquiring an additional 638 shares during the period. Finally, DnB Asset Management AS boosted its holdings in NetApp by 3.3% in the 4th quarter. DnB Asset Management AS now owns 31,397 shares of the data storage provider’s stock worth $1,737,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Traders Buy NetApp (NTAP) on Weakness” was published by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The original version of this piece of content can be accessed at https://www.com-unik.info/2018/01/20/traders-buy-netapp-ntap-on-weakness.html.
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.
Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.