NetApp Inc. (NASDAQ:NTAP) hit a new 52-week high and low during trading on Tuesday . The stock traded as low as $76.40 and last traded at $76.27, with a volume of 119728 shares traded. The stock had previously closed at $75.80.

NTAP has been the subject of several research analyst reports. DA Davidson upgraded NetApp from a “neutral” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Thursday, February 15th. Pivotal Research set a $62.00 price target on NetApp and gave the stock a “buy” rating in a research note on Thursday, February 15th. Lake Street Capital upped their price target on NetApp from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Zacks Investment Research lowered NetApp from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Deutsche Bank upped their price target on NetApp from $37.00 to $40.00 and gave the stock a “sell” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $65.69.

The firm has a market cap of $20.25 billion, a P/E ratio of 25.78, a PEG ratio of 1.78 and a beta of 1.25. The company has a quick ratio of 1.86, a current ratio of 1.89 and a debt-to-equity ratio of 0.75.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, May 23rd. The data storage provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. NetApp had a return on equity of 33.87% and a net margin of 1.29%. NetApp’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 earnings per share. analysts anticipate that NetApp Inc. will post 3.54 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 25th. Investors of record on Friday, July 6th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. This is an increase from NetApp’s previous quarterly dividend of $0.20. NetApp’s dividend payout ratio is currently 26.76%.

In other NetApp news, Director Gerald Held sold 4,000 shares of the stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $73.99, for a total transaction of $295,960.00. Following the transaction, the director now owns 11,391 shares of the company’s stock, valued at approximately $842,820.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO George Kurian sold 7,020 shares of the stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $61.95, for a total value of $434,889.00. Following the transaction, the chief executive officer now directly owns 27,657 shares in the company, valued at approximately $1,713,351.15. The disclosure for this sale can be found here. Insiders sold 115,389 shares of company stock valued at $7,904,558 in the last three months. 0.47% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd lifted its holdings in NetApp by 79.4% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 32,800 shares of the data storage provider’s stock worth $2,024,000 after buying an additional 14,512 shares during the last quarter. Oakview Capital Management L.P. lifted its holdings in NetApp by 7.3% during the 1st quarter. Oakview Capital Management L.P. now owns 430,168 shares of the data storage provider’s stock worth $26,537,000 after buying an additional 29,398 shares during the last quarter. Amalgamated Bank lifted its holdings in NetApp by 7.7% during the 1st quarter. Amalgamated Bank now owns 38,330 shares of the data storage provider’s stock worth $2,365,000 after buying an additional 2,731 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in NetApp by 6,367.4% during the 1st quarter. Summit Trail Advisors LLC now owns 2,773,654 shares of the data storage provider’s stock worth $2,774,000 after buying an additional 2,730,767 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its holdings in NetApp by 127.7% during the 1st quarter. WINTON GROUP Ltd now owns 298,199 shares of the data storage provider’s stock worth $18,396,000 after buying an additional 167,262 shares during the last quarter. 91.21% of the stock is currently owned by institutional investors.

NetApp Company Profile

NetApp, Inc provides software, systems, and services to manage and store computer data worldwide. It offers flash; flash arrays that support data management; hybrid arrays to deploy the speed of flash storage; hybrid cloud; ONTAP cloud storage data management service; NetApp cloud sync hybrid data management Software as a Service; NetApp private storage for cloud; and AltaVault cloud-integrated solutions.

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