Brokerages Set NetApp, Inc. (NASDAQ:NTAP) PT at $129.06

Shares of NetApp, Inc. (NASDAQ:NTAP) have received a consensus recommendation of “Hold” from the seventeen brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $134.00.

A number of equities analysts recently commented on NTAP shares. Citigroup upped their target price on NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a report on Friday. Wedbush restated a “neutral” rating and set a $120.00 target price on shares of NetApp in a report on Friday. Barclays upped their target price on NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Northland Securities upped their target price on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Friday.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 1,685 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Elizabeth M. O’callahan sold 705 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction of $88,971.00. Following the completion of the sale, the executive vice president now owns 11,694 shares in the company, valued at $1,475,782.80. This represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,049 shares of company stock valued at $2,807,851. 0.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NetApp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. boosted its holdings in NetApp by 11.8% in the second quarter. UMB Bank n.a. now owns 784 shares of the data storage provider’s stock worth $101,000 after purchasing an additional 83 shares during the last quarter. Aviso Wealth Management boosted its holdings in NetApp by 1.4% in the second quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock worth $792,000 after purchasing an additional 83 shares during the last quarter. Waldron Private Wealth LLC boosted its holdings in NetApp by 4.3% in the second quarter. Waldron Private Wealth LLC now owns 2,255 shares of the data storage provider’s stock worth $290,000 after purchasing an additional 92 shares during the last quarter. Quarry LP boosted its holdings in NetApp by 11.7% in the second quarter. Quarry LP now owns 876 shares of the data storage provider’s stock worth $113,000 after purchasing an additional 92 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its holdings in NetApp by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider’s stock worth $2,437,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

NASDAQ:NTAP opened at $122.34 on Friday. The firm has a market cap of $25.05 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. NetApp has a fifty-two week low of $77.56 and a fifty-two week high of $135.45. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. The business has a 50 day moving average price of $121.87 and a 200-day moving average price of $122.49.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 earnings per share. Equities research analysts predict that NetApp will post 5.71 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, January 3rd. NetApp’s dividend payout ratio (DPR) is currently 40.62%.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.