NetApp, Inc. (NASDAQ:NTAP) Director George T. Shaheen sold 36,916 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $53.10, for a total value of $1,960,239.60. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of NetApp, Inc. (NTAP) opened at $54.73 on Tuesday. The stock has a market capitalization of $14,520.00, a price-to-earnings ratio of 19.91, a P/E/G ratio of 1.85 and a beta of 1.16. NetApp, Inc. has a one year low of $34.72 and a one year high of $54.81. 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 (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.12. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. equities analysts predict that NetApp, Inc. will post 2.53 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be paid a $0.20 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.80 annualized dividend and a yield of 1.46%. NetApp’s dividend payout ratio (DPR) is presently 34.33%.
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A number of equities analysts have issued reports on the company. Argus raised their target price on NetApp from $46.00 to $60.00 and gave the stock a “buy” rating in a report on Friday. ValuEngine upgraded NetApp from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. BMO Capital Markets restated a “hold” rating and set a $43.00 target price on shares of NetApp in a report on Wednesday, November 15th. UBS AG restated a “buy” rating and set a $52.00 target price (up previously from $45.00) on shares of NetApp in a report on Thursday, November 16th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of NetApp in a research report on Thursday, November 16th. Two equities research 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. The stock has an average rating of “Hold” and an average target price of $48.68.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Exane Derivatives boosted its stake in 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 during the period. First Personal Financial Services boosted its stake in 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 during the period. Quantbot Technologies LP bought a new stake in NetApp in the 3rd quarter valued at $131,000. Krilogy Financial LLC bought a new stake in NetApp in the 2nd quarter valued at $122,000. Finally, FTB Advisors Inc. boosted its stake in 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 during the period. Institutional investors and hedge funds own 97.27% 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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