Traders Purchase Large Volume of Put Options on NetApp (NTAP)
Shares of NetApp (NASDAQ:NTAP) saw some unusual options trading on Wednesday. Traders purchased 18,165 put options on the company, Analyst Ratings.Net reports. This represents an increase of 268% compared to the average volume of 4,931 put options.
In other NetApp news, Chairman Daniel J. Warmenhoven sold 10,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $41.54, for a total transaction of $415,400.00. The sale was disclosed in a filing with the SEC, 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 Friday, October 18th. Separately, analysts at Pacific Crest cut their price target on shares of NetApp from $48.00 to $46.00 in a research note to investors on Wednesday, October 16th. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $44.43.
Shares of NetApp (NASDAQ:NTAP) opened at 39.06 on Thursday. NetApp has a 1-year low of $26.26 and a 1-year high of $43.83. The stock’s 50-day moving average is $42.00 and its 200-day moving average is $37.7. The company has a market cap of $13.284 billion and a P/E ratio of 27.24.
NetApp (NASDAQ:NTAP) last released its earnings data 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. 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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