NetApp, Inc. (NASDAQ:NTAP) SVP Matthew K. Fawcett sold 29,845 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 31,962 shares in the company, valued at $1,489,429.20. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of NetApp, Inc. (NTAP) traded down $0.34 during trading on Monday, reaching $46.00. The company had a trading volume of 2,315,663 shares, compared to its average volume of 2,923,803. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.27. The stock has a market cap of $12,450.00, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. NetApp, Inc. has a 12 month low of $33.26 and a 12 month high of $47.20.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.07. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. equities research analysts anticipate that NetApp, Inc. will post 2.49 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Thursday, October 5th. NetApp’s payout ratio is currently 38.46%.
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A number of equities analysts have recently commented on the stock. Susquehanna Bancshares Inc restated a “positive” rating and set a $50.00 price objective (up from $48.00) on shares of NetApp in a research note on Wednesday, August 16th. Stifel Nicolaus reiterated a “hold” rating and set a $37.00 price target on shares of NetApp in a research report on Wednesday, August 16th. Barclays PLC raised their target price on shares of NetApp from $35.00 to $38.00 and gave the company an “underweight” rating in a research report on Thursday, August 17th. Drexel Hamilton reiterated a “buy” rating and set a $62.00 price target (up previously from $60.00) on shares of NetApp in a report on Friday, August 18th. Finally, Royal Bank Of Canada lifted their target price on shares of NetApp from $45.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $45.85.
Several institutional investors have recently bought and sold shares of NTAP. Boston Partners purchased a new stake in shares of NetApp in the third quarter valued at approximately $315,629,000. Renaissance Technologies LLC lifted its position in shares of NetApp by 781.1% in the second quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock valued at $133,750,000 after acquiring an additional 2,960,542 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of NetApp by 6,495.7% in the second quarter. Janus Henderson Group PLC now owns 2,312,525 shares of the data storage provider’s stock valued at $92,617,000 after acquiring an additional 2,277,464 shares in the last quarter. BlackRock Inc. increased its stake in NetApp by 7.5% in the second quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock valued at $867,006,000 after purchasing an additional 1,517,967 shares during the last quarter. Finally, FMR LLC increased its stake in NetApp by 89.2% in the second quarter. FMR LLC now owns 3,044,302 shares of the data storage provider’s stock valued at $121,924,000 after purchasing an additional 1,435,588 shares during the last quarter. Hedge funds and other institutional investors 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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