NetApp Inc. (NASDAQ:NTAP) VP Joel D. Reich sold 11,641 shares of the stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $60.02, for a total transaction of $698,692.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of NetApp Inc. (NASDAQ NTAP) traded down $0.28 during midday trading on Wednesday, reaching $64.55. 2,237,570 shares of the company’s stock traded hands, compared to its average volume of 3,800,000. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.71. NetApp Inc. has a 1-year low of $37.43 and a 1-year high of $65.58. The company has a market cap of $17,220.00, a price-to-earnings ratio of 20.76, a PEG ratio of 2.05 and a beta of 1.29.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, February 14th. The data storage provider reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.08. NetApp had a negative net margin of 0.09% and a positive return on equity of 29.38%. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business earned $0.82 EPS. research analysts expect that NetApp Inc. will post 2.91 EPS for the current year.
NTAP has been the subject of a number of research reports. DA Davidson upped their price objective on shares of NetApp from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, November 14th. Piper Jaffray Companies set a $52.00 price objective on shares of NetApp and gave the company a “buy” rating in a research note on Tuesday, November 14th. ValuEngine raised shares of NetApp from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. UBS Group reaffirmed a “buy” rating and issued a $52.00 price objective (up previously from $45.00) on shares of NetApp in a research note on Thursday, November 16th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $54.00 price objective (up previously from $49.00) on shares of NetApp in a research note on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $56.23.
A number of hedge funds and other institutional investors have recently modified their holdings of NTAP. Tuttle Tactical Management LLC bought a new position in shares of NetApp in the 4th quarter worth about $1,411,000. MetLife Investment Advisors LLC bought a new position in shares of NetApp in the 4th quarter worth about $4,617,000. Vident Investment Advisory LLC increased its stake in shares of NetApp by 6.6% in the 4th quarter. Vident Investment Advisory LLC now owns 65,025 shares of the data storage provider’s stock worth $3,597,000 after acquiring an additional 4,047 shares in the last quarter. Millennium Management LLC increased its stake in shares of NetApp by 39.6% in the 4th quarter. Millennium Management LLC now owns 1,233,888 shares of the data storage provider’s stock worth $68,259,000 after acquiring an additional 350,081 shares in the last quarter. Finally, Sciencast Management LP bought a new position in shares of NetApp in the 4th quarter worth about $793,000. Institutional investors and hedge funds own 94.99% of the company’s stock.
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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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