Insider Selling: NetApp, Inc. (NTAP) EVP Sells 1,976 Shares of Stock
NetApp, Inc. (NASDAQ:NTAP) EVP Henri P. Richard sold 1,976 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $55.91, for a total value of $110,478.16. Following the completion of the sale, the executive vice president now directly owns 11,884 shares of the company’s stock, valued at approximately $664,434.44. The transaction was disclosed in a document filed with the SEC, which is available through this link.
NetApp, Inc. (NTAP) traded up $0.21 during midday trading on Tuesday, hitting $56.14. The company’s stock had a trading volume of 2,621,867 shares, compared to its average volume of 2,993,642. The stock has a market cap of $15,049.73, a price-to-earnings ratio of 21.21, a P/E/G ratio of 1.83 and a beta of 1.28. NetApp, Inc. has a twelve month low of $34.72 and a twelve month high of $58.11. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64.
NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. sell-side analysts expect that NetApp, Inc. will post 2.72 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Exane Derivatives raised its stake in shares of NetApp by 59,850.0% during the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after buying an additional 2,394 shares during the last quarter. First Personal Financial Services raised its stake in shares of NetApp by 27,540.0% during the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock valued at $121,000 after buying an additional 2,754 shares during the last quarter. Krilogy Financial LLC purchased a new position in shares of NetApp during the 2nd quarter valued at about $122,000. Quantbot Technologies LP purchased a new position in shares of NetApp during the 3rd quarter valued at about $131,000. Finally, FTB Advisors Inc. increased its stake in shares of NetApp by 50.2% in the 3rd quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock valued at $199,000 after purchasing an additional 1,519 shares in the last quarter. Institutional investors and hedge funds own 93.92% of the company’s stock.
A number of analysts have recently weighed in on NTAP shares. Maxim Group raised their price objective on NetApp from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, November 16th. Morgan Stanley reissued an “underweight” rating on shares of NetApp in a research report on Saturday, September 23rd. Piper Jaffray Companies set a $52.00 price objective on NetApp and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Barclays upgraded NetApp from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $52.00 in a research note on Thursday, November 9th. Finally, DA Davidson restated a “buy” rating and issued a $51.00 target price on shares of NetApp in a research note on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have given a buy rating to the stock. NetApp presently has an average rating of “Hold” and an average price target of $49.04.
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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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