Barclays PLC reissued their overweight rating on shares of NetApp, Inc. (NASDAQ:NTAP) in a research note issued to investors on Thursday morning, Marketbeat reports. Barclays PLC currently has a $56.00 price objective on the data storage provider’s stock, up from their previous price objective of $52.00.
Other analysts have also recently issued reports about the stock. BidaskClub upgraded shares of NetApp from a hold rating to a buy rating in a report on Wednesday, July 19th. Longbow Research upgraded shares of NetApp from a neutral rating to a buy rating and set a $50.00 price target on the stock in a report on Tuesday, August 15th. Piper Jaffray Companies set a $50.00 price target on shares of NetApp and gave the company a buy rating in a report on Monday, August 14th. Maxim Group upgraded shares of NetApp from a hold rating to a buy rating and raised their price target for the company from $46.00 to $56.00 in a report on Monday, August 14th. Finally, Lake Street Capital raised their price target on shares of NetApp from $43.00 to $49.00 and gave the company a buy rating in a report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have issued a buy rating to the stock. NetApp has an average rating of Hold and a consensus price target of $48.68.
NetApp (NASDAQ:NTAP) traded down $0.16 during midday trading on Thursday, reaching $52.95. 5,664,483 shares of the company’s stock were exchanged, compared to its average volume of 2,938,607. The company has a quick ratio of 1.44, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. The stock has a market cap of $14,283.69, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16. NetApp has a 1-year low of $34.72 and a 1-year high of $54.72.
NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the business earned $0.60 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. equities research analysts expect that NetApp will post 2.53 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, January 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. NetApp’s payout ratio is 34.33%.
In other NetApp news, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $43.89, for a total value of $86,726.64. Following the transaction, the executive vice president now owns 15,836 shares of the company’s stock, valued at $695,042.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO George Kurian sold 4,570 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $37.98, for a total transaction of $173,568.60. Following the completion of the transaction, the chief executive officer now directly owns 23,028 shares in the company, valued at approximately $874,603.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,343 shares of company stock worth $3,302,273. Corporate insiders own 0.47% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Exane Derivatives lifted its position in NetApp by 59,850.0% in the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after buying an additional 2,394 shares during the last quarter. First Personal Financial Services lifted its position in NetApp by 27,540.0% in the third quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock valued at $121,000 after buying an additional 2,754 shares during the last quarter. Krilogy Financial LLC acquired a new position in NetApp in the second quarter valued at about $122,000. Quantbot Technologies LP acquired a new position in NetApp in the third quarter valued at about $131,000. Finally, FTB Advisors Inc. lifted its position in NetApp by 50.2% in the third quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock valued at $199,000 after buying an additional 1,519 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors.
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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