NetApp, Inc. (NTAP) Short Interest Up 9.0% in November

NetApp, Inc. (NASDAQ:NTAP) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 15,384,635 shares, an increase of 9.0% from the November 15th total of 14,117,083 shares. Approximately 5.8% of the company’s shares are sold short. Based on an average daily volume of 4,315,296 shares, the short-interest ratio is currently 3.6 days.

NetApp (NASDAQ:NTAP) opened at $57.27 on Friday. The company has a market capitalization of $15,305.85, a PE ratio of 21.57, a price-to-earnings-growth ratio of 1.86 and a beta of 1.28. NetApp has a one year low of $35.08 and a one year high of $58.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.64 and a current ratio of 1.67.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $0.60 earnings per share. sell-side analysts expect that NetApp will post 2.72 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Thursday, January 4th. NetApp’s dividend payout ratio is presently 34.33%.

A number of research analysts recently weighed in on NTAP shares. Deutsche Bank lifted their target price on NetApp from $27.00 to $37.00 and gave the company a “sell” rating in a report on Thursday, November 16th. Royal Bank of Canada lifted their target price on NetApp from $45.00 to $50.00 and gave the company a “sector perform” rating in a report on Monday, November 13th. Morgan Stanley reiterated an “underweight” rating on shares of NetApp in a report on Saturday, September 23rd. BMO Capital Markets upgraded NetApp from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $43.00 to $62.00 in a report on Thursday, November 16th. Finally, ValuEngine cut NetApp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $49.39.

In other news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $43.89, for a total value of $86,726.64. Following the completion of the sale, the executive vice president now owns 15,836 shares of the company’s stock, valued at $695,042.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Joel D. Reich sold 15,000 shares of NetApp stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $56.99, for a total value of $854,850.00. Following the completion of the sale, the vice president now directly owns 441 shares of the company’s stock, valued at approximately $25,132.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,036 shares of company stock valued at $10,171,008. Company insiders own 0.47% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of NTAP. Exane Derivatives lifted its stake in shares of NetApp by 59,850.0% in the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after acquiring an additional 2,394 shares in the last quarter. First Personal Financial Services lifted its stake in shares of NetApp by 27,540.0% in the third quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock worth $121,000 after acquiring an additional 2,754 shares in the last quarter. Krilogy Financial LLC acquired a new position in shares of NetApp in the second quarter worth about $122,000. Quantbot Technologies LP acquired a new position in shares of NetApp in the third quarter worth about $131,000. Finally, FTB Advisors Inc. lifted its stake in shares of NetApp by 50.2% in the third quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock worth $199,000 after acquiring an additional 1,519 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

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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.

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