Several other equities research analysts have also recently weighed in on NTAP. Credit Suisse Group increased their price target on shares of NetApp from $37.00 to $40.00 and gave the company a neutral rating in a research report on Wednesday, August 9th. BidaskClub cut shares of NetApp from a buy rating to a hold rating in a research report on Saturday, August 12th. Robert W. Baird set a $44.00 price target on shares of NetApp and gave the company a hold rating in a research report on Monday, August 14th. Maxim Group raised shares of NetApp from a hold rating to a buy rating and increased their price target for the company from $46.00 to $56.00 in a research report on Monday, August 14th. Finally, Piper Jaffray Companies set a $50.00 price objective on shares of NetApp and gave the stock a buy rating in a report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $48.68.
Shares of NetApp (NASDAQ NTAP) opened at $52.95 on Friday. The firm has a market cap of $14,283.67, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55. NetApp has a 12-month low of $34.72 and a 12-month high of $54.72.
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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 issued a dividend of $0.20 per share. 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 payout ratio is presently 34.33%.
In related news, SVP Matthew K. Fawcett sold 29,845 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were 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 $1,489,429.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard P. Wallace sold 34,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $43.53, for a total transaction 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 insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its holdings in shares of NetApp by 25.4% in the second quarter. Toronto Dominion Bank now owns 91,841 shares of the data storage provider’s stock worth $3,678,000 after buying an additional 18,613 shares during the last quarter. Personal Capital Advisors Corp purchased a new position in shares of NetApp in the third quarter worth approximately $269,000. BTIM Corp. boosted its holdings in shares of NetApp by 4.5% in the second quarter. BTIM Corp. now owns 118,219 shares of the data storage provider’s stock worth $4,735,000 after buying an additional 5,099 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its holdings in shares of NetApp by 13.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 547,294 shares of the data storage provider’s stock worth $21,918,000 after buying an additional 64,722 shares during the last quarter. Finally, Cantor Fitzgerald Investment Adviser L.P. purchased a new position in shares of NetApp in the second quarter worth approximately $280,000. 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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