Traders Buy High Volume of NetApp Call Options (NTAP)
NetApp (NASDAQ:NTAP) was the target of some unusual options trading activity on Friday. Stock investors purchased 21,923 call options on the company, ARN reports. This is an increase of 204% compared to the average volume of 7,219 call options.
In other NetApp news, Chairman Daniel Warmenhoven sold 10,000 shares of NetApp stock on the open market in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $43.28, for a total transaction of $432,800.00. Following the completion of the sale, the chairman now directly owns 64,748 shares of the company’s stock, valued at approximately $2,802,293. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on NTAP shares. Analysts at TheStreet reiterated a “buy” rating on shares of NetApp (NASDAQ:NTAP) in a research note to investors on Thursday. Separately, analysts at Barclays Capital downgraded shares of NetApp (NASDAQ:NTAP) from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday. They now have a $46.00 price target on the stock. Finally, analysts at William Blair downgraded shares of NetApp (NASDAQ:NTAP) from a “market perform” rating to an “underperform” rating in a research note to investors on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $43.66.
NetApp (NASDAQ:NTAP) traded down 1.28% during mid-day trading on Friday, hitting $42.58. The stock had a trading volume of 4,011,077 shares. NetApp has a 52 week low of $26.26 and a 52 week high of $44.65. The stock’s 50-day moving average is $42.54 and its 200-day moving average is $38.36. The company has a market cap of $14.481 billion and a P/E ratio of 30.08.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 25th. Investors of record on Monday, October 21st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend 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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