Shares of NetApp Inc. (NASDAQ:NTAP) have earned an average rating of “Hold” from the thirty-five brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, nineteen have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $50.70.

NTAP has been the subject of a number of research reports. ValuEngine raised NetApp from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. DA Davidson lifted their price target on NetApp from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, November 14th. BMO Capital Markets raised NetApp from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $43.00 to $62.00 in a research report on Thursday, November 16th. Wells Fargo & Co reiterated a “market perform” rating and set a $50.00 price objective on shares of NetApp in a research note on Tuesday, November 14th. Finally, Argus lifted their price objective on NetApp from $46.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 17th.

In related news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $44.62, for a total value of $88,169.12. Following the completion of the transaction, the executive vice president now owns 13,860 shares in the company, valued at approximately $618,433.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Joel D. Reich sold 3,371 shares of NetApp stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $53.17, for a total value of $179,236.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,604 shares of company stock valued at $10,389,277. 0.47% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in NTAP. Exane Derivatives increased its stake in NetApp by 59,850.0% during the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after buying an additional 2,394 shares in the last quarter. First Personal Financial Services increased its stake in 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 worth $121,000 after buying an additional 2,754 shares in the last quarter. Krilogy Financial LLC purchased a new stake in NetApp during the 2nd quarter worth approximately $122,000. Quantbot Technologies LP purchased a new stake in NetApp during the 3rd quarter worth approximately $131,000. Finally, FTB Advisors Inc. increased its stake in NetApp by 50.2% during the 3rd quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock worth $199,000 after buying an additional 1,519 shares in the last quarter. Hedge funds and other institutional investors own 94.71% of the company’s stock.

Shares of NetApp (NASDAQ:NTAP) traded up $0.74 on Friday, reaching $57.81. The company’s stock had a trading volume of 2,711,200 shares, compared to its average volume of 2,168,067. NetApp has a 12 month low of $35.08 and a 12 month high of $58.99. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55. The firm has a market cap of $15,690.00, a PE ratio of 24.81, a P/E/G ratio of 1.85 and a beta of 1.29.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. equities research analysts predict that NetApp will post 2.72 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be paid a $0.20 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. NetApp’s dividend payout ratio is presently 34.33%.

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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.

Analyst Recommendations for NetApp (NASDAQ:NTAP)

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