Investors Buy Large Volume of Put Options on NetApp (NTAP)
Shares of NetApp (NASDAQ:NTAP) saw some unusual options trading activity on Monday. Investors purchased 7,917 put options on the stock, ARN reports. This is an increase of 104% compared to the typical daily volume of 3,886 put options.
In other NetApp news, Chairman Daniel Warmenhoven sold 41,758 shares of NetApp stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $41.83, for a total value of $1,746,737.14. Following the sale, the chairman now directly owns 64,748 shares of the company’s stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
NTAP has been the subject of a number of recent research reports. Analysts at TheStreet reiterated a “positive” rating on shares of NetApp (NASDAQ:NTAP) in a research note to investors on Monday. Separately, analysts at Cross Research initiated coverage on shares of NetApp (NASDAQ:NTAP) in a research note to investors on Tuesday, September 10th. They set a “hold” rating on the stock. Finally, analysts at UBS AG upgraded shares of NetApp (NASDAQ:NTAP) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 9th. They now have a $50.00 price target on the stock.
One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and seventeen have given a buy rating to the stock. NetApp presently has a consensus rating of “Hold” and a consensus price target of $43.35.
NetApp (NASDAQ:NTAP) traded up 0.51% during mid-day trading on Tuesday, hitting $43.77. The stock had a trading volume of 1,165,733 shares. NetApp has a 52-week low of $26.26 and a 52-week high of $44.01. The stock has a 50-day moving average of $42.06 and a 200-day moving average of $37.86. The company has a market cap of $14.886 billion and a price-to-earnings ratio of 30.37.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.49 by $0.04. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company posted $0.42 earnings per share. NetApp’s revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that NetApp will post $2.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 25th. Investors of record on Monday, October 21st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Thursday, October 17th.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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