A number of other research analysts have also issued reports on the stock. Wells Fargo & Co boosted their price target on shares of NetApp from $54.00 to $62.00 and gave the stock a market perform rating in a research note on Thursday. BMO Capital Markets boosted their price target on shares of NetApp from $62.00 to $63.00 and gave the stock an outperform rating in a research note on Thursday. Deutsche Bank upped their target price on shares of NetApp from $37.00 to $40.00 and gave the stock a sell rating in a research report on Thursday. Zacks Investment Research lowered shares of NetApp from a buy rating to a hold rating in a research report on Thursday. Finally, Lake Street Capital upped their target price on shares of NetApp from $54.00 to $62.00 and gave the stock a buy rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $56.31.
NetApp (NASDAQ NTAP) opened at $56.51 on Wednesday. NetApp has a one year low of $37.43 and a one year high of $64.06. The company has a current ratio of 1.91, a quick ratio of 1.64 and a debt-to-equity ratio of 0.71. The stock has a market cap of $14,770.00, a PE ratio of -706.38, a PEG ratio of 1.84 and a beta of 1.33.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Friday, April 6th will be given a $0.20 dividend. The ex-dividend date is Thursday, April 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. NetApp’s dividend payout ratio is presently -1,000.00%.
In related news, CEO George Kurian sold 75,000 shares of the company’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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas Michael Nevens sold 20,000 shares of the company’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 transaction of $1,113,400.00. Following the transaction, the director now directly owns 17,000 shares in the company, valued at approximately $946,390. The disclosure for this sale can be found here. Insiders sold 136,342 shares of company stock worth $7,429,481 over the last quarter. Company insiders own 0.47% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. MetLife Investment Advisors LLC purchased a new position in shares of NetApp during the fourth quarter valued at approximately $4,617,000. Vident Investment Advisory LLC lifted its stake in shares of NetApp by 6.6% during 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 buying an additional 4,047 shares during the period. Millennium Management LLC lifted its stake in shares of NetApp by 39.6% during 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 buying an additional 350,081 shares during the period. Sciencast Management LP purchased a new position in shares of NetApp during the fourth quarter valued at approximately $793,000. Finally, Cornerstone Capital Management Holdings LLC. lifted its stake in shares of NetApp by 89.7% during 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 buying an additional 99,120 shares during the period. 96.67% of the stock is currently owned by institutional investors and hedge funds.
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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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