NetApp Director Unloads $315,856 in Stock (NTAP)
NetApp (NASDAQ:NTAP) Director Daniel J. Warmenhoven unloaded 7,600 shares of the stock on the open market in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $41.56, for a total value of $315,856.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
NTAP has been the subject of a number of recent research reports. Analysts at Sterne Agee raised their price target on shares of NetApp from $34.00 to $35.00 in a research note on Thursday, August 14th. They now have a “neutral” rating on the stock. Separately, analysts at Cantor Fitzgerald raised their price target on shares of NetApp from $45.00 to $47.00 in a research note on Thursday, August 14th. They now have a “buy” rating on the stock. Finally, analysts at Macquarie raised their price target on shares of NetApp from $38.00 to $41.00 in a research note on Thursday, August 14th. They now have a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have issued a buy rating to the company. NetApp presently has a consensus rating of “Hold” and a consensus target price of $41.19.
Shares of NetApp (NASDAQ:NTAP) traded up 0.34% during mid-day trading on Wednesday, hitting $41.56. The stock had a trading volume of 1,850,617 shares. NetApp has a 52-week low of $33.34 and a 52-week high of $45.96. The stock has a 50-day moving average of $38.82 and a 200-day moving average of $37.46. The company has a market cap of $13.445 billion and a P/E ratio of 21.93.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.57 by $0.03. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. Analysts expect that NetApp will post $3.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 22nd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Wednesday, October 8th.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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