NetApp Inc. (NASDAQ:NTAP) SVP Matthew K. Fawcett sold 11,195 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $58.76, for a total transaction of $657,818.20. Following the completion of the sale, the senior vice president now owns 76,722 shares of the company’s stock, valued at approximately $4,508,184.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of NASDAQ:NTAP opened at $60.63 on Thursday. NetApp Inc. has a 52-week low of $54.50 and a 52-week high of $88.08. The firm has a market cap of $14.64 billion, a P/E ratio of 15.08, a P/E/G ratio of 0.96 and a beta of 1.51. The firm has a 50-day moving average price of $63.35. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.45 and a quick ratio of 1.42.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, May 22nd. The data storage provider reported $1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.03). NetApp had a net margin of 19.02% and a return on equity of 71.66%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the business posted $1.05 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities research analysts anticipate that NetApp Inc. will post 4.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a $0.48 dividend. This is a boost from NetApp’s previous quarterly dividend of $0.40. This represents a $1.92 annualized dividend and a yield of 3.17%. The ex-dividend date is Wednesday, July 3rd. NetApp’s dividend payout ratio is currently 39.80%.
A number of analysts recently commented on NTAP shares. Bank of America lowered their price objective on shares of NetApp from $78.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. DA Davidson reduced their target price on shares of NetApp to $93.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Loop Capital reduced their target price on shares of NetApp to $78.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Maxim Group reduced their target price on shares of NetApp to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Finally, Goldman Sachs Group lowered shares of NetApp from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, May 23rd. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $75.95.
A number of institutional investors have recently added to or reduced their stakes in NTAP. Oppenheimer & Co. Inc. bought a new position in NetApp in the 4th quarter valued at about $228,000. Dupont Capital Management Corp raised its holdings in NetApp by 136.1% in the 4th quarter. Dupont Capital Management Corp now owns 79,685 shares of the data storage provider’s stock valued at $4,755,000 after acquiring an additional 45,936 shares during the period. Creative Planning raised its holdings in NetApp by 78.9% in the 4th quarter. Creative Planning now owns 7,952 shares of the data storage provider’s stock valued at $474,000 after acquiring an additional 3,508 shares during the period. Janney Montgomery Scott LLC raised its holdings in NetApp by 16.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 19,102 shares of the data storage provider’s stock valued at $1,140,000 after acquiring an additional 2,672 shares during the period. Finally, CWM Advisors LLC raised its holdings in NetApp by 12.1% in the 4th quarter. CWM Advisors LLC now owns 3,664 shares of the data storage provider’s stock valued at $219,000 after acquiring an additional 396 shares during the period. 96.50% of the stock is currently owned by hedge funds and other institutional investors.
NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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