Stock Traders Buy High Volume of NetApp Put Options (NTAP)
Shares of NetApp (NASDAQ:NTAP) saw some unusual options trading activity on Tuesday. Stock traders purchased 11,375 put options on the company, Stock Ratings Network.com reports. This is an increase of approximately 169% compared to the average volume of 4,233 put 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, October 7th. The shares were sold at an average price of $42.01, for a total transaction of $420,100.00. Following the transaction, the chairman now directly owns 64,748 shares in the company, valued at approximately $2,720,063. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
NTAP has been the subject of a number of recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of NetApp in a research note to investors on Tuesday, October 8th. Finally, analysts at Barclays downgraded shares of NetApp from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday, September 24th. They now have a $46.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have given a buy rating to the company’s stock. NetApp has an average rating of “Hold” and an average price target of $43.98.
NetApp (NASDAQ:NTAP) traded down 2.47% on Tuesday, hitting $40.70. 12,023,676 shares of the company’s stock traded hands. NetApp has a 1-year low of $26.26 and a 1-year high of $44.65. The stock has a 50-day moving average of $42.54 and a 200-day moving average of $39.13. The company has a market cap of $13.842 billion and a price-to-earnings ratio of 29.10.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings data 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. Analysts expect that NetApp will post $2.75 EPS for the current fiscal year.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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