Oppenheimer Holdings, Inc. Reiterates “Hold” Rating for NetApp, Inc. (NTAP)
NetApp, Inc. (NASDAQ:NTAP)‘s stock had its “hold” rating reissued by research analysts at Oppenheimer Holdings, Inc. in a research report issued to clients and investors on Wednesday.
Several other analysts also recently commented on the stock. Zacks Investment Research raised shares of NetApp from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Wednesday. Robert W. Baird reaffirmed a “hold” rating and set a $46.00 target price (up previously from $44.00) on shares of NetApp in a report on Wednesday. DA Davidson reaffirmed a “buy” rating and set a $51.00 target price on shares of NetApp in a report on Monday. Drexel Hamilton reaffirmed a “buy” rating and set a $62.00 target price on shares of NetApp in a report on Monday, September 25th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of NetApp in a report on Saturday, September 23rd. Two research analysts have rated the stock with a sell rating, twenty have given a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $45.12.
Shares of NetApp (NTAP) traded up 0.16% on Wednesday, hitting $44.46. 2,876,125 shares of the stock were exchanged. The firm has a market capitalization of $11.99 billion, a PE ratio of 21.47 and a beta of 1.26. The company has a 50-day moving average price of $40.63 and a 200-day moving average price of $40.70. NetApp has a one year low of $30.36 and a one year high of $45.24.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.55 by $0.07. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. NetApp had a net margin of 10.47% and a return on equity of 24.13%. NetApp’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS. Equities research analysts expect that NetApp will post $3.13 earnings per share for the current year.
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In other news, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $43.41, for a total value of $85,778.16. Following the sale, the executive vice president now directly owns 19,788 shares of the company’s stock, valued at approximately $858,997.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard P. Wallace sold 34,000 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $43.53, for a total transaction of $1,480,020.00. Following the completion of the sale, the director now directly owns 24,132 shares in the company, valued at $1,050,465.96. The disclosure for this sale can be found here. Insiders have sold a total of 52,450 shares of company stock worth $2,250,560 over the last three months. Insiders own 0.47% of the company’s stock.
Large investors have recently bought and sold shares of the company. BTIM Corp. boosted its stake in shares of NetApp by 4.5% in the 2nd quarter. BTIM Corp. now owns 118,219 shares of the data storage provider’s stock valued at $4,735,000 after purchasing an additional 5,099 shares during the last quarter. Janus Capital Management LLC boosted its stake in shares of NetApp by 55.1% in the 1st quarter. Janus Capital Management LLC now owns 725,050 shares of the data storage provider’s stock valued at $30,343,000 after purchasing an additional 257,433 shares during the last quarter. Cantor Fitzgerald Investment Adviser L.P. bought a new stake in shares of NetApp in the 2nd quarter valued at $280,000. Point72 Asia Hong Kong Ltd boosted its stake in shares of NetApp by 8,443.8% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 5,468 shares of the data storage provider’s stock valued at $229,000 after purchasing an additional 5,404 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK boosted its stake in shares of NetApp by 13.4% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 547,294 shares of the data storage provider’s stock valued at $21,918,000 after purchasing an additional 64,722 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.
NetApp Company Profile
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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