NetApp, Inc. (NASDAQ:NTAP) VP Joel D. Reich sold 3,371 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $53.17, for a total value of $179,236.07. The sale was disclosed in a legal filing with the SEC, which is available through this link.
NetApp, Inc. (NASDAQ NTAP) opened at $54.73 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. NetApp, Inc. has a twelve month low of $34.72 and a twelve month high of $54.81. The company has a market capitalization of $14,520.00, a P/E ratio of 19.91, a P/E/G ratio of 1.85 and a beta of 1.16.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the firm earned $0.60 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. analysts anticipate that NetApp, Inc. will post 2.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. NetApp’s dividend payout ratio is presently 34.33%.
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NTAP has been the subject of several recent analyst reports. Robert W. Baird reaffirmed a “hold” rating on shares of NetApp in a research report on Thursday, November 16th. BidaskClub lowered NetApp from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. DA Davidson lifted their price target on NetApp from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Barclays PLC reaffirmed an “overweight” rating and issued a $56.00 price target (up previously from $52.00) on shares of NetApp in a research report on Thursday, November 16th. Finally, ValuEngine raised NetApp from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. NetApp presently has a consensus rating of “Hold” and a consensus price target of $48.68.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. CAPROCK Group Inc. raised its holdings in shares of NetApp by 0.8% during the 2nd quarter. CAPROCK Group Inc. now owns 5,278 shares of the data storage provider’s stock worth $211,000 after acquiring an additional 44 shares in the last quarter. Contravisory Investment Management Inc. raised its holdings in shares of NetApp by 0.6% during the 2nd quarter. Contravisory Investment Management Inc. now owns 7,059 shares of the data storage provider’s stock worth $283,000 after acquiring an additional 45 shares in the last quarter. Neuberger Berman Group LLC raised 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 acquiring an additional 58 shares in the last quarter. Breton Hill Capital Ltd. raised its holdings in shares of NetApp by 0.3% during the 2nd quarter. Breton Hill Capital Ltd. now owns 17,290 shares of the data storage provider’s stock worth $692,000 after acquiring an additional 59 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of NetApp by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider’s stock worth $673,000 after acquiring an additional 100 shares in the last quarter. 97.27% 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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