NetApp, Inc. (NASDAQ:NTAP) Receives $137.40 Consensus PT from Analysts

NetApp, Inc. (NASDAQ:NTAP) has been given an average recommendation of “Hold” by the seventeen research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $137.40.

A number of analysts recently issued reports on the company. TD Cowen raised their price objective on NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Northland Securities upped their price objective on shares of NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. Wells Fargo & Company lifted their target price on shares of NetApp from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Barclays boosted their target price on NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Finally, Susquehanna restated a “positive” rating and set a $155.00 price target on shares of NetApp in a research report on Monday, August 26th.

Insider Transactions at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $126.11, for a total transaction of $1,071,935.00. Following the transaction, the chief executive officer now owns 292,778 shares of the company’s stock, valued at $36,922,233.58. The trade was a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 705 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the sale, the executive vice president now directly owns 11,694 shares of the company’s stock, valued at $1,475,782.80. The trade was a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,049 shares of company stock valued at $2,807,851. 0.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NetApp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. increased its stake in NetApp by 11.8% in the 2nd quarter. UMB Bank n.a. now owns 784 shares of the data storage provider’s stock valued at $101,000 after buying an additional 83 shares during the period. Aviso Wealth Management increased its stake in shares of NetApp by 1.4% during the second quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock worth $792,000 after acquiring an additional 83 shares during the period. Waldron Private Wealth LLC raised its holdings in NetApp by 4.3% during the second quarter. Waldron Private Wealth LLC now owns 2,255 shares of the data storage provider’s stock worth $290,000 after purchasing an additional 92 shares in the last quarter. Quarry LP lifted its position in NetApp by 11.7% in the second quarter. Quarry LP now owns 876 shares of the data storage provider’s stock valued at $113,000 after purchasing an additional 92 shares during the period. Finally, Elo Mutual Pension Insurance Co lifted its position in NetApp by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider’s stock valued at $2,437,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

NASDAQ:NTAP opened at $121.95 on Wednesday. NetApp has a one year low of $83.62 and a one year high of $135.45. The stock has a market cap of $24.79 billion, a PE ratio of 22.42, a P/E/G ratio of 2.94 and a beta of 1.23. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The stock has a 50 day moving average price of $122.90 and a 200 day moving average price of $124.04.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. NetApp’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 earnings per share. Equities research analysts expect that NetApp will post 5.83 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.71%. The ex-dividend date is Friday, January 3rd. NetApp’s dividend payout ratio (DPR) is presently 38.24%.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.