Royal Bank of Canada reissued their hold rating on shares of NetApp (NASDAQ:NTAP) in a research note published on Monday. They currently have a $60.00 price target on the data storage provider’s stock.
Several other equities research analysts have also recently weighed in on the company. ValuEngine cut NetApp from a buy rating to a hold rating in a report on Friday, December 1st. BMO Capital Markets upgraded NetApp from a market perform rating to an outperform rating in a report on Sunday, November 26th. UBS reiterated a buy rating and issued a $62.00 target price (up from $52.00) on shares of NetApp in a report on Wednesday, November 22nd. Argus upped their target price on NetApp from $46.00 to $60.00 and gave the stock a buy rating in a report on Friday, November 17th. Finally, Robert W. Baird reiterated a hold rating on shares of NetApp in a report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the stock. NetApp currently has a consensus rating of Hold and an average price target of $49.39.
NetApp (NASDAQ NTAP) traded up $0.32 on Monday, reaching $58.58. The company had a trading volume of 2,874,000 shares, compared to its average volume of 2,995,380. NetApp has a one year low of $35.08 and a one year high of $58.99. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55. The stock has a market cap of $15,543.29, a PE ratio of 21.90, a P/E/G ratio of 1.89 and a beta of 1.28.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the business earned $0.60 EPS. NetApp’s revenue was up 6.1% compared to the same quarter last year. sell-side analysts anticipate that NetApp will post 2.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s dividend payout ratio is currently 34.33%.
In other news, Director Richard P. Wallace sold 34,000 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $43.53, for a total value of $1,480,020.00. Following the transaction, the director now directly owns 24,132 shares of the company’s stock, valued at $1,050,465.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Henri P. Richard sold 1,976 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $42.01, for a total value of $83,011.76. Following the completion of the transaction, the executive vice president now directly owns 17,812 shares in the company, valued at $748,282.12. The disclosure for this sale can be found here. Insiders have sold a total of 202,036 shares of company stock worth $10,171,008 over the last ninety days. 0.47% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in NTAP. Exane Derivatives boosted its stake in shares of NetApp by 59,850.0% in the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after buying an additional 2,394 shares during the last quarter. First Personal Financial Services boosted its stake in shares of 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 worth $121,000 after buying an additional 2,754 shares during the last quarter. Krilogy Financial LLC purchased a new stake in shares of NetApp in the second quarter worth about $122,000. Quantbot Technologies LP purchased a new stake in shares of NetApp in the third quarter worth about $131,000. Finally, FTB Advisors Inc. boosted its stake in shares of NetApp by 50.2% in the third quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock worth $199,000 after buying an additional 1,519 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.
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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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