NetApp, Inc. (NASDAQ:NTAP) Receives $137.33 Consensus Price Target from Analysts

NetApp, Inc. (NASDAQ:NTAP) has been assigned an average recommendation of “Hold” from the seventeen ratings firms that are presently covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $137.33.

NTAP has been the topic of a number of research reports. Stifel Nicolaus upped their price target on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Citigroup upped their target price on NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer assumed coverage on NetApp in a report on Wednesday, November 13th. They set a “market perform” rating for the company. Northland Securities boosted their price target on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. Finally, StockNews.com raised NetApp from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th.

NetApp Price Performance

NASDAQ:NTAP opened at $124.49 on Monday. NetApp has a 12-month low of $86.43 and a 12-month high of $135.45. The firm has a market capitalization of $25.31 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 2.45 and a beta of 1.23. The stock’s 50 day moving average price is $120.19 and its two-hundred day moving average price is $122.04. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $124.29, for a total value of $1,056,465.00. Following the sale, the chief executive officer now owns 279,782 shares of the company’s stock, valued at approximately $34,774,104.78. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 452 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the transaction, the executive vice president now directly owns 11,553 shares of the company’s stock, valued at $1,395,024.75. This trade represents a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,903 shares of company stock valued at $7,260,341 over the last three months. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On NetApp

A number of institutional investors have recently added to or reduced their stakes in NTAP. Integrated Advisors Network LLC increased its holdings in shares of NetApp by 602.8% during the fourth quarter. Integrated Advisors Network LLC now owns 29,391 shares of the data storage provider’s stock worth $3,412,000 after buying an additional 25,209 shares in the last quarter. Ascent Group LLC grew its position in NetApp by 21.3% during the 4th quarter. Ascent Group LLC now owns 15,879 shares of the data storage provider’s stock worth $1,843,000 after acquiring an additional 2,790 shares during the last quarter. Mackenzie Financial Corp increased its holdings in NetApp by 373.4% in the 4th quarter. Mackenzie Financial Corp now owns 243,504 shares of the data storage provider’s stock worth $28,266,000 after purchasing an additional 192,062 shares in the last quarter. Toronto Dominion Bank raised its position in NetApp by 36.3% in the fourth quarter. Toronto Dominion Bank now owns 125,740 shares of the data storage provider’s stock valued at $14,594,000 after purchasing an additional 33,500 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new stake in shares of NetApp during the fourth quarter valued at about $249,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

About NetApp

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.