NetApp (NASDAQ:NTAP) EVP Henri P. Richard sold 4,900 shares of the company’s stock in a transaction dated Tuesday, April 10th. The shares were sold at an average price of $66.00, for a total value of $323,400.00. Following the completion of the transaction, the executive vice president now owns 6,984 shares in the company, valued at approximately $460,944. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of NetApp stock opened at $67.47 on Friday. The company has a market cap of $17,720.41, a price-to-earnings ratio of 32.13, a P/E/G ratio of 2.19 and a beta of 1.27. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.91 and a quick ratio of 1.88. NetApp has a 12-month low of $37.43 and a 12-month high of $68.79.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.49 billion. NetApp had a positive return on equity of 29.38% and a negative net margin of 0.09%. During the same quarter in the prior year, the business earned $0.82 earnings per share. equities analysts predict that NetApp will post 2.92 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Investec Asset Management LTD bought a new stake in shares of NetApp in the fourth quarter valued at approximately $290,829,000. Boston Partners boosted its position in shares of NetApp by 68.1% in the fourth quarter. Boston Partners now owns 12,127,140 shares of the data storage provider’s stock valued at $670,873,000 after acquiring an additional 4,914,409 shares during the period. Shellback Capital LP bought a new stake in shares of NetApp in the fourth quarter valued at approximately $36,817,000. Millennium Management LLC boosted its position in shares of 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 during the period. Finally, PGGM Investments boosted its position in shares of NetApp by 268.0% in the fourth quarter. PGGM Investments now owns 452,900 shares of the data storage provider’s stock valued at $25,054,000 after acquiring an additional 329,816 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.
NTAP has been the subject of several recent research reports. UBS boosted their price target on NetApp from $62.00 to $71.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Morgan Stanley raised NetApp from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $41.00 to $64.00 in a research note on Tuesday, January 23rd. Zacks Investment Research raised NetApp from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Tuesday, February 20th. TheStreet cut NetApp from a “b” rating to a “c+” rating in a research note on Wednesday, February 14th. Finally, Bank of America raised NetApp from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $59.81.
NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and store computer data worldwide. It offers flash; flash arrays that support data management; hybrid arrays to deploy the speed of flash storage; hybrid cloud; ONTAP cloud storage data management service; NetApp cloud sync hybrid data management Software as a Service; NetApp private storage for cloud; and AltaVault cloud-integrated solutions.
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