NetApp Inc. (NASDAQ:NTAP) VP Joel D. Reich sold 6,500 shares of NetApp stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $55.80, for a total value of $362,700.00. Following the completion of the sale, the vice president now directly owns 3,950 shares in the company, valued at approximately $220,410. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
NetApp Inc. (NASDAQ:NTAP) traded up $0.74 during trading on Thursday, reaching $57.81. The company had a trading volume of 2,711,268 shares, compared to its average volume of 2,168,067. NetApp Inc. has a fifty-two week low of $35.08 and a fifty-two week high of $58.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64. The company has a market capitalization of $14,825.62, a PE ratio of 24.81, a P/E/G ratio of 1.80 and a beta of 1.29.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the company posted $0.60 earnings per share. NetApp’s quarterly revenue was up 6.1% on a year-over-year basis. sell-side analysts anticipate that NetApp Inc. will post 2.72 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of NTAP. Exane Derivatives boosted its holdings in shares of NetApp by 59,850.0% during the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after acquiring an additional 2,394 shares during the period. First Personal Financial Services boosted its holdings in shares of NetApp by 27,540.0% during the third quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock worth $121,000 after acquiring an additional 2,754 shares during the period. Krilogy Financial LLC bought a new stake in shares of NetApp during the second quarter worth approximately $122,000. Quantbot Technologies LP bought a new stake in shares of NetApp during the third quarter worth approximately $131,000. Finally, FTB Advisors Inc. boosted its holdings in shares of NetApp by 50.2% during the third quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock worth $199,000 after acquiring an additional 1,519 shares during the period. Institutional investors and hedge funds own 94.71% of the company’s stock.
A number of analysts recently issued reports on the company. DA Davidson reaffirmed a “buy” rating and issued a $51.00 target price on shares of NetApp in a research report on Monday, October 2nd. Drexel Hamilton reaffirmed a “buy” rating and issued a $62.00 target price on shares of NetApp in a research report on Monday, September 25th. Robert W. Baird reaffirmed a “hold” rating and issued a $46.00 target price (up previously from $44.00) on shares of NetApp in a research report on Wednesday, October 4th. Oppenheimer reaffirmed a “hold” rating on shares of NetApp in a research report on Wednesday, October 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $43.00 target price on shares of NetApp in a research report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $50.15.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.chaffeybreeze.com/2018/01/04/insider-selling-netapp-inc-ntap-vp-sells-6500-shares-of-stock.html.
NetApp Company Profile
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.
Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.