NetApp Inc. (NASDAQ:NTAP) has earned an average recommendation of “Hold” from the forty-one research firms that are presently covering the stock. Eleven analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $33.84.
A number of equities research analysts have recently commented on NTAP shares. JMP Securities lifted their target price on NetApp from $21.00 to $24.00 and gave the stock a “market underperform” rating in a research note on Thursday, August 18th. lifted their target price on NetApp from $24.00 to $32.00 and gave the stock an “underperform” rating in a research note on Thursday, August 18th. Drexel Hamilton reiterated a “hold” rating on shares of NetApp in a research note on Wednesday, August 17th. Summit Redstone lifted their target price on NetApp from $20.00 to $30.00 and gave the stock a “sell” rating in a research note on Thursday, August 18th. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $29.00 target price (up from $26.00) on shares of NetApp in a research note on Tuesday, August 16th.
In other NetApp news, Director Robert T. Wall sold 22,944 shares of the stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $35.45, for a total value of $813,364.80. Following the transaction, the director now owns 36,048 shares of the company’s stock, valued at $1,277,901.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 4,000 shares of the stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $35.16, for a total value of $140,640.00. Following the completion of the transaction, the chief executive officer now directly owns 40,570 shares in the company, valued at approximately $1,426,441.20. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sirios Capital Management L P bought a new position in NetApp during the second quarter valued at approximately $61,213,000. Morgan Stanley increased its position in NetApp by 212.4% in the third quarter. Morgan Stanley now owns 2,315,447 shares of the data storage provider’s stock valued at $82,941,000 after buying an additional 1,574,330 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in NetApp by 14.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 9,225,320 shares of the data storage provider’s stock valued at $226,851,000 after buying an additional 1,189,529 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its position in NetApp by 2,289.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 974,669 shares of the data storage provider’s stock valued at $23,967,000 after buying an additional 933,879 shares during the period. Finally, BlackRock Inc. increased its position in NetApp by 169.9% in the second quarter. BlackRock Inc. now owns 1,397,104 shares of the data storage provider’s stock valued at $34,354,000 after buying an additional 879,433 shares during the period. 89.05% of the stock is currently owned by institutional investors.
NetApp (NASDAQ:NTAP) traded up 0.22% during trading on Monday, hitting $36.69. 944,384 shares of the company traded hands. The stock has a 50 day moving average price of $34.16 and a 200 day moving average price of $29.95. The company has a market capitalization of $10.20 billion, a P/E ratio of 33.29 and a beta of 1.49. NetApp has a 12-month low of $20.66 and a 12-month high of $39.00.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, November 16th. The data storage provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. NetApp had a return on equity of 15.66% and a net margin of 5.89%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business earned $0.61 EPS. The business’s revenue was down 7.3% on a year-over-year basis. On average, equities analysts anticipate that NetApp will post $2.56 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Friday, January 6th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Wednesday, January 4th. NetApp’s dividend payout ratio is 69.09%.