Pivotal Research initiated coverage on shares of NetApp, Inc. (NASDAQ:NTAP) in a research report released on Thursday morning, MarketBeat reports. The firm issued a hold rating and a $54.00 target price on the data storage provider’s stock.
NTAP has been the topic of several other reports. Credit Suisse Group upped their price objective on shares of NetApp from $37.00 to $40.00 and gave the stock a neutral rating in a report on Wednesday, August 9th. Longbow Research upgraded shares of NetApp from a neutral rating to a buy rating and set a $50.00 price objective on the stock in a report on Tuesday, August 15th. Barclays PLC upped their target price on shares of NetApp from $35.00 to $38.00 and gave the stock an underweight rating in a research note on Thursday, August 17th. BidaskClub downgraded shares of NetApp from a buy rating to a hold rating in a research note on Saturday, August 12th. Finally, Drexel Hamilton reaffirmed a buy rating and set a $62.00 target price (up from $60.00) on shares of NetApp in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the stock. NetApp has a consensus rating of Hold and an average target price of $48.68.
Shares of NetApp (NASDAQ NTAP) traded down $0.16 during mid-day trading on Thursday, hitting $52.95. 5,664,483 shares of the stock traded hands, compared to its average volume of 2,938,607. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.44 and a current ratio of 1.67. NetApp has a 52-week low of $34.72 and a 52-week high of $54.72. The firm has a market cap of $14,283.69, a price-to-earnings ratio of 19.91, a P/E/G ratio of 1.85 and a beta of 1.16.
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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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is presently 34.33%.
In other news, CEO George Kurian sold 4,570 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $37.98, for a total value of $173,568.60. Following the completion of the sale, the chief executive officer now owns 23,028 shares in the company, valued at approximately $874,603.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew K. Fawcett sold 29,845 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $46.60, for a total transaction of $1,390,777.00. Following the completion of the sale, the senior vice president now owns 31,962 shares of the company’s stock, valued at approximately $1,489,429.20. The disclosure for this sale can be found here. Insiders sold a total of 74,343 shares of company stock valued at $3,302,273 in the last 90 days. Company insiders own 0.47% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Exane Derivatives increased its holdings in shares of NetApp by 59,850.0% in the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after purchasing an additional 2,394 shares in the last quarter. First Personal Financial Services increased its holdings in shares of NetApp by 27,540.0% in the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock valued at $121,000 after purchasing an additional 2,754 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of NetApp in the 3rd quarter valued at about $131,000. Krilogy Financial LLC purchased a new position in shares of NetApp in the 2nd quarter valued at about $122,000. Finally, FTB Advisors Inc. increased its holdings in shares of NetApp by 50.2% in the 3rd quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock valued at $199,000 after purchasing an additional 1,519 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.
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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