NetApp (NTAP) Price Target Raised to $62.00
Other equities analysts also recently issued reports about the company. DA Davidson raised their price objective on NetApp from $53.00 to $56.00 and gave the stock a buy rating in a research report on Tuesday, November 14th. 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. Maxim Group restated a buy rating and set a $56.00 price objective on shares of NetApp in a research report on Friday, October 27th. Lake Street Capital restated a buy rating and set a $54.00 price objective (up from $49.00) on shares of NetApp in a research report on Thursday, November 16th. Finally, UBS Group restated a buy rating and set a $52.00 price objective (up from $45.00) on shares of NetApp in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $53.85.
NetApp (NASDAQ:NTAP) opened at $58.74 on Tuesday. NetApp has a 1 year low of $37.43 and a 1 year high of $64.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.64 and a current ratio of 1.67. The stock has a market capitalization of $15,401.89, a PE ratio of 21.70, a PEG ratio of 1.84 and a beta of 1.32.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Friday, January 5th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $0.80 annualized dividend and a yield of 1.36%. NetApp’s dividend payout ratio is currently 34.33%.
In other NetApp news, CEO George Kurian sold 3,826 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $63.01, for a total value of $241,076.26. Following the completion of the sale, the chief executive officer now owns 20,637 shares of the company’s stock, valued at $1,300,337.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Henri P. Richard sold 1,976 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were 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 disclosure for this sale can be found here. Insiders sold 176,629 shares of company stock valued at $9,568,956 in the last three months. Insiders own 0.47% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Exane Derivatives grew its stake in NetApp by 59,850.0% in the third 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. IFP Advisors Inc grew its stake in NetApp by 45.3% in the fourth 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. First Personal Financial Services grew its stake in NetApp by 27,540.0% in the third 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. Quantbot Technologies LP acquired a new stake in NetApp in the third quarter valued at approximately $131,000. Finally, Tower Research Capital LLC TRC grew its stake in NetApp by 227.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,286 shares of the data storage provider’s stock valued at $182,000 after acquiring an additional 2,282 shares during the period. 96.67% of the stock is owned by hedge funds and other institutional investors.
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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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