NetApp (NASDAQ:NTAP) had its price objective increased by Deutsche Bank from $37.00 to $40.00 in a research note published on Thursday. Deutsche Bank currently has a sell rating on the data storage provider’s stock.
A number of other equities analysts have also commented on NTAP. Maxim Group reaffirmed a buy rating and set a $56.00 target price on shares of NetApp in a research report on Friday, October 27th. Barclays raised shares of NetApp from an underweight rating to an overweight rating and raised their target price for the stock from $38.00 to $52.00 in a research report on Thursday, November 9th. Royal Bank of Canada raised their target price on shares of NetApp from $45.00 to $50.00 and gave the stock a sector perform rating in a research report on Monday, November 13th. Piper Jaffray Companies set a $52.00 target price on shares of NetApp and gave the stock a buy rating in a research report on Tuesday, November 14th. Finally, DA Davidson raised their target price on shares of NetApp from $53.00 to $56.00 and gave the stock a buy rating in a research report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and seventeen have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $56.31.
Shares of NetApp (NTAP) opened at $56.51 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.91 and a quick ratio of 1.64. The stock has a market cap of $15,076.42, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.80 and a beta of 1.33. NetApp has a 12 month low of $37.43 and a 12 month high of $64.06.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $0.80 annualized dividend and a yield of 1.42%. NetApp’s dividend payout ratio (DPR) is -1,000.00%.
In other NetApp news, Director Thomas Michael Nevens sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $55.67, for a total value of $1,113,400.00. Following the completion of the sale, the director now directly owns 17,000 shares in the company, valued at $946,390. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO George Kurian sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $52.50, for a total transaction of $3,937,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,342 shares of company stock valued at $7,429,481. 0.47% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC acquired a new stake in NetApp in the fourth quarter valued at approximately $4,617,000. Vident Investment Advisory LLC boosted its stake in NetApp by 6.6% in the fourth quarter. Vident Investment Advisory LLC now owns 65,025 shares of the data storage provider’s stock valued at $3,597,000 after acquiring an additional 4,047 shares in the last quarter. Millennium Management LLC boosted its stake in NetApp by 39.6% in the fourth quarter. Millennium Management LLC now owns 1,233,888 shares of the data storage provider’s stock valued at $68,259,000 after acquiring an additional 350,081 shares in the last quarter. Sciencast Management LP acquired a new stake in NetApp in the fourth quarter valued at approximately $793,000. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in NetApp by 89.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 209,641 shares of the data storage provider’s stock valued at $11,595,000 after acquiring an additional 99,120 shares in the last quarter. Institutional investors own 96.67% of the company’s stock.
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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.
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