NetApp Inc. (NASDAQ:NTAP) has received an average rating of “Hold” from the forty research firms that are currently covering the company. Ten equities research analysts have rated the stock with a sell recommendation, twenty-three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $29.83.

Several brokerages have commented on NTAP. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of NetApp in a report on Sunday, May 29th. Summit Redstone reiterated a “sell” rating on shares of NetApp in a report on Tuesday, June 21st. JMP Securities raised their target price on shares of NetApp from $21.00 to $24.00 and gave the stock a “market underperform” rating in a report on Thursday, August 18th. Credit Agricole SA raised their target price on shares of NetApp from $24.00 to $32.00 and gave the stock an “underperform” rating in a report on Thursday, August 18th. Finally, Susquehanna raised their target price on shares of NetApp from $36.00 to $42.00 and gave the stock a “positive” rating in a report on Wednesday.

NetApp (NASDAQ:NTAP) opened at 35.705 on Monday. NetApp has a 12 month low of $20.66 and a 12 month high of $36.09. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 32.138 and a beta of 1.56. The company’s 50-day moving average is $32.68 and its 200 day moving average is $27.04.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 17th. The data storage provider reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.10. NetApp had a net margin of 5.87% and a return on equity of 15.82%. The company earned $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted $0.29 EPS. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts predict that NetApp will post $2.36 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Friday, October 7th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.76 annualized dividend and a yield of 2.13%. NetApp’s dividend payout ratio is currently 68.47%.

In other news, CEO George Kurian sold 48,176 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $34.87, for a total transaction of $1,679,897.12. Following the completion of the transaction, the chief executive officer now directly owns 92,746 shares in the company, valued at approximately $3,234,053.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Joel D. Reich sold 2,241 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $24.35, for a total value of $54,568.35. Following the transaction, the vice president now owns 489 shares of the company’s stock, valued at $11,907.15. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Several institutional investors have recently bought and sold shares of NTAP. Global X Management Co. LLC raised its position in NetApp by 109.8% in the second quarter. Global X Management Co. LLC now owns 4,485 shares of the data storage provider’s stock valued at $110,000 after buying an additional 2,347 shares during the last quarter. FTB Advisors Inc. raised its position in NetApp by 14.3% in the second quarter. FTB Advisors Inc. now owns 5,154 shares of the data storage provider’s stock valued at $126,000 after buying an additional 646 shares during the last quarter. Thrivent Financial for Lutherans raised its position in NetApp by 3.2% in the second quarter. Thrivent Financial for Lutherans now owns 8,840 shares of the data storage provider’s stock valued at $217,000 after buying an additional 270 shares during the last quarter. First Allied Advisory Services Inc. raised its position in NetApp by 6.7% in the second quarter. First Allied Advisory Services Inc. now owns 10,481 shares of the data storage provider’s stock valued at $249,000 after buying an additional 655 shares during the last quarter. Finally, Creative Planning raised its position in NetApp by 248.6% in the second quarter. Creative Planning now owns 10,495 shares of the data storage provider’s stock valued at $258,000 after buying an additional 7,484 shares during the last quarter. Institutional investors own 89.54% of the company’s stock.

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.

5 Day Chart for NASDAQ:NTAP

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