Investment analysts at Goldman Sachs Group assumed coverage on shares of NetApp (NASDAQ:NTAP) in a research report issued on Wednesday. The firm set a “neutral” rating and a $64.00 price target on the data storage provider’s stock. Goldman Sachs Group’s price target points to a potential upside of 11.13% from the company’s previous close.
A number of other equities research analysts have also commented on NTAP. Maxim Group reissued a “buy” rating and set a $56.00 price objective on shares of NetApp in a report on Friday, October 27th. Barclays raised shares of NetApp from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $38.00 to $52.00 in a report on Thursday, November 9th. Royal Bank of Canada increased their price objective on shares of NetApp from $45.00 to $50.00 and gave the stock a “sector perform” rating in a report on Monday, November 13th. Piper Jaffray Companies set a $52.00 price objective on shares of NetApp and gave the stock a “buy” rating in a report on Tuesday, November 14th. Finally, DA Davidson increased their price objective on shares of NetApp from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $52.81.
Shares of NetApp (NASDAQ:NTAP) traded down $0.55 during trading hours on Wednesday, reaching $57.59. 191,924 shares of the company’s stock were exchanged, compared to its average volume of 2,632,353. NetApp has a 12-month low of $37.43 and a 12-month high of $64.06. 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 company has a market cap of $15,156.44, a price-to-earnings ratio of 24.72, a P/E/G ratio of 1.81 and a beta of 1.32.
In related news, Director George T. Shaheen sold 36,916 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $53.10, for a total value of $1,960,239.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO George Kurian sold 75,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $52.50, for a total transaction of $3,937,500.00. The disclosure for this sale can be found here. Insiders sold a total of 199,454 shares of company stock worth $10,542,184 over the last quarter. 0.47% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Exane Derivatives raised its position in shares of NetApp by 59,850.0% in the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after acquiring an additional 2,394 shares during the period. First Personal Financial Services raised its position in shares of NetApp by 27,540.0% in the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock valued at $121,000 after acquiring an additional 2,754 shares during the period. Krilogy Financial LLC acquired a new stake in shares of NetApp in the 2nd quarter valued at approximately $122,000. Quantbot Technologies LP acquired a new stake in shares of NetApp in the 3rd quarter valued at approximately $131,000. Finally, IFP Advisors Inc raised its position in shares of NetApp by 45.3% in the 4th quarter. IFP Advisors Inc now owns 2,571 shares of the data storage provider’s stock valued at $142,000 after acquiring an additional 801 shares during the period. Institutional investors and hedge funds own 94.96% of the company’s stock.
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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.
