NetApp, Inc. (NASDAQ:NTAP) VP Joel D. Reich sold 3,371 shares of NetApp stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $53.17, for a total transaction of $179,236.07. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

NetApp, Inc. (NASDAQ:NTAP) traded up $1.78 on Monday, reaching $54.73. 4,374,085 shares of the company traded hands, compared to its average volume of 2,987,846. The firm has a market capitalization of $14,520.00, a PE ratio of 19.91, a PEG ratio of 1.85 and a beta of 1.16. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. NetApp, Inc. has a 1 year low of $34.72 and a 1 year high of $54.81.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company posted $0.60 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. sell-side analysts predict that NetApp, Inc. will post 2.53 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.80 annualized dividend and a yield of 1.46%. NetApp’s payout ratio is 34.33%.

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A number of hedge funds have recently added to or reduced their stakes in the business. CAPROCK Group Inc. increased its stake in NetApp by 0.8% during the second quarter. CAPROCK Group Inc. now owns 5,278 shares of the data storage provider’s stock valued at $211,000 after purchasing an additional 44 shares during the last quarter. Contravisory Investment Management Inc. increased its stake in NetApp by 0.6% during the second quarter. Contravisory Investment Management Inc. now owns 7,059 shares of the data storage provider’s stock valued at $283,000 after purchasing an additional 45 shares during the last quarter. Neuberger Berman Group LLC increased its stake in NetApp by 0.7% during the second quarter. Neuberger Berman Group LLC now owns 8,201 shares of the data storage provider’s stock valued at $328,000 after purchasing an additional 58 shares during the last quarter. Breton Hill Capital Ltd. increased its stake in NetApp by 0.3% during the second quarter. Breton Hill Capital Ltd. now owns 17,290 shares of the data storage provider’s stock valued at $692,000 after purchasing an additional 59 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in NetApp by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider’s stock valued at $673,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 97.27% of the company’s stock.

A number of brokerages have recently commented on NTAP. Barclays PLC reiterated an “overweight” rating and set a $56.00 price target (up from $52.00) on shares of NetApp in a report on Thursday. Credit Suisse Group lifted their price target on shares of NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. Longbow Research upgraded shares of NetApp from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, August 15th. Piper Jaffray Companies reiterated an “overweight” rating and set a $60.00 price target on shares of NetApp in a report on Thursday. Finally, BidaskClub downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $48.68.

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.

Insider Buying and Selling by Quarter for NetApp (NASDAQ:NTAP)

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