Oppenheimer Holdings, Inc. reaffirmed their hold rating on shares of NetApp, Inc. (NASDAQ:NTAP) in a report issued on Wednesday morning.

Several other brokerages have also issued reports on NTAP. Zacks Investment Research raised shares of NetApp from a hold rating to a buy rating and set a $49.00 target price on the stock in a research note on Wednesday. Robert W. Baird reaffirmed a hold rating and issued a $46.00 target price (up previously from $44.00) on shares of NetApp in a research note on Wednesday. DA Davidson reaffirmed a buy rating and issued a $51.00 target price on shares of NetApp in a research note on Monday. Drexel Hamilton reaffirmed a buy rating and issued a $62.00 target price on shares of NetApp in a research note on Monday, September 25th. Finally, Morgan Stanley reaffirmed an underweight rating on shares of NetApp in a research note on Saturday, September 23rd. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating and thirteen have given a buy rating to the stock. NetApp has a consensus rating of Hold and a consensus target price of $45.12.

Shares of NetApp (NASDAQ NTAP) traded up 0.66% during mid-day trading on Wednesday, hitting $44.55. 3,263,799 shares of the stock were exchanged. The company’s 50-day moving average is $40.63 and its 200-day moving average is $40.70. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 21.51 and a beta of 1.26. NetApp has a 1-year low of $30.36 and a 1-year high of $45.24.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.07. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. Equities research analysts anticipate that NetApp will post $3.13 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 6th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.80%. NetApp’s payout ratio is 38.65%.

In related news, CEO George Kurian sold 4,570 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $37.98, for a total transaction of $173,568.60. Following the transaction, the chief executive officer now directly owns 23,028 shares in the company, valued at $874,603.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $43.41, for a total transaction of $85,778.16. Following the transaction, the executive vice president now owns 19,788 shares in the company, valued at $858,997.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,450 shares of company stock worth $2,250,560. 0.47% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in NetApp by 1.8% during the second quarter. Vanguard Group Inc. now owns 27,214,474 shares of the data storage provider’s stock worth $1,089,939,000 after buying an additional 481,365 shares during the last quarter. BlackRock Inc. increased its holdings in NetApp by 7.5% during the second quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock worth $867,006,000 after buying an additional 1,517,967 shares during the last quarter. Renaissance Technologies LLC increased its holdings in NetApp by 781.1% during the second quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock worth $133,750,000 after buying an additional 2,960,542 shares during the last quarter. FMR LLC increased its holdings in NetApp by 89.2% during the second quarter. FMR LLC now owns 3,044,302 shares of the data storage provider’s stock worth $121,924,000 after buying an additional 1,435,588 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in NetApp by 5.7% during the first quarter. Geode Capital Management LLC now owns 3,042,360 shares of the data storage provider’s stock worth $127,165,000 after buying an additional 164,120 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

About NetApp

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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