Oppenheimer Holdings, Inc. Reaffirms “Hold” Rating for NetApp, Inc. (NTAP)

Oppenheimer Holdings, Inc. restated their hold rating on shares of NetApp, Inc. (NASDAQ:NTAP) in a research report released on Thursday.

NTAP has been the topic of several other reports. Maxim Group boosted their price target on NetApp from $56.00 to $61.00 and gave the company a buy rating in a research note on Thursday. Morgan Stanley restated an underweight rating on shares of NetApp in a research note on Saturday, September 23rd. DA Davidson restated a buy rating and set a $51.00 price target on shares of NetApp in a research note on Monday, October 2nd. Barclays PLC upgraded NetApp from an underweight rating to an overweight rating and boosted their price target for the company from $38.00 to $52.00 in a research note on Thursday, November 9th. Finally, Credit Suisse Group boosted their price target on NetApp from $37.00 to $40.00 and gave the company a neutral rating in a research note on Wednesday, August 9th. 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 stock. NetApp has an average rating of Hold and a consensus target price of $48.68.

NetApp (NASDAQ:NTAP) traded down $0.16 during trading on Thursday, hitting $52.95. The stock had a trading volume of 5,664,483 shares, 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 company has a market capitalization of $14,283.69, a price-to-earnings ratio of 19.91, a PEG ratio of 1.85 and a beta of 1.16. NetApp has a twelve month low of $34.72 and a twelve month high of $54.72.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. analysts predict that NetApp will post 2.53 earnings per share for the current year.

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The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is currently 34.33%.

In other news, SVP Matthew K. Fawcett sold 29,845 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $46.60, for a total value of $1,390,777.00. Following the transaction, the senior vice president now owns 31,962 shares of the company’s stock, valued at approximately $1,489,429.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard P. Wallace sold 34,000 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $43.53, for a total value of $1,480,020.00. Following the completion of the transaction, the director now directly owns 24,132 shares in the company, valued at approximately $1,050,465.96. The disclosure for this sale can be found here. In the last three months, insiders sold 74,343 shares of company stock worth $3,302,273. 0.47% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Exane Derivatives increased its position 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 buying an additional 2,394 shares in the last quarter. First Personal Financial Services increased its position 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 buying an additional 2,754 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of NetApp in the 3rd quarter valued at $131,000. Krilogy Financial LLC bought a new stake in shares of NetApp in the 2nd quarter valued at $122,000. Finally, FTB Advisors Inc. increased its position 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 buying an additional 1,519 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors.

NetApp Company Profile

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.

Analyst Recommendations for NetApp (NASDAQ:NTAP)

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