NetApp (NASDAQ:NTAP)‘s stock had its “buy” rating restated by stock analysts at Credit Suisse Group in a research note issued to investors on Wednesday, AnalystRatings.com reports. They presently have a $70.00 price target on the data storage provider’s stock. Credit Suisse Group’s price target indicates a potential upside of 17.67% from the stock’s current price.
A number of other brokerages also recently commented on NTAP. Argus upped their price objective on shares of NetApp from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Standpoint Research upgraded shares of NetApp from a “hold” rating to a “buy” rating in a report on Monday, December 23rd. Morgan Stanley increased their price target on shares of NetApp from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Lake Street Capital increased their price target on shares of NetApp from $49.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Zacks Investment Research downgraded shares of NetApp from a “strong-buy” rating to a “hold” rating and set a $73.00 price target for the company. in a report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $63.24.
NetApp stock traded down $0.60 during trading hours on Wednesday, reaching $59.49. 120,568 shares of the stock were exchanged, compared to its average volume of 1,628,178. The stock has a market cap of $13.82 billion, a P/E ratio of 14.85, a P/E/G ratio of 1.37 and a beta of 1.58. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.27 and a current ratio of 1.31. NetApp has a 52-week low of $44.55 and a 52-week high of $78.35. The firm’s 50 day moving average is $62.27 and its 200 day moving average is $56.59.
In other NetApp news, CAO Scott R. Allen sold 2,781 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $62.23, for a total transaction of $173,061.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Henri P. Richard sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $64.20, for a total transaction of $160,500.00. Following the transaction, the executive vice president now owns 143,855 shares of the company’s stock, valued at $9,235,491. The disclosure for this sale can be found here. Insiders have sold a total of 5,284 shares of company stock valued at $333,743 over the last 90 days. 0.33% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. Sumitomo Life Insurance Co. increased its holdings in NetApp by 6.8% during the 4th quarter. Sumitomo Life Insurance Co. now owns 22,518 shares of the data storage provider’s stock valued at $1,402,000 after acquiring an additional 1,432 shares in the last quarter. Advisor Partners LLC boosted its stake in shares of NetApp by 6.1% during the 4th quarter. Advisor Partners LLC now owns 6,608 shares of the data storage provider’s stock worth $424,000 after purchasing an additional 382 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of NetApp during the 4th quarter worth about $119,000. Campbell & CO Investment Adviser LLC boosted its stake in shares of NetApp by 9.0% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 9,145 shares of the data storage provider’s stock worth $569,000 after purchasing an additional 752 shares during the last quarter. Finally, Wealthfront Advisers LLC boosted its stake in shares of NetApp by 5.7% during the 4th quarter. Wealthfront Advisers LLC now owns 6,812 shares of the data storage provider’s stock worth $424,000 after purchasing an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 98.27% of the company’s stock.
NetApp Company Profile
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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