NetApp, Inc. (NASDAQ:NTAP) Receives $129.07 Consensus Price Target from Analysts

NetApp, Inc. (NASDAQ:NTAP) has received a consensus rating of “Hold” from the seventeen brokerages that are presently covering the stock, MarketBeat reports. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $129.07.

Several research firms have commented on NTAP. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Wedbush reiterated a “neutral” rating and set a $110.00 price target (down from $120.00) on shares of NetApp in a report on Friday, February 28th. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Citigroup lowered their target price on NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Susquehanna lowered shares of NetApp from a “positive” rating to a “neutral” rating and reduced their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O’callahan sold 528 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $92.58, for a total transaction of $48,882.24. Following the sale, the executive vice president now directly owns 12,900 shares in the company, valued at approximately $1,194,282. The trade was a 3.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,931 shares of company stock worth $6,252,759 over the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of NetApp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of NetApp during the 4th quarter valued at $26,000. Assetmark Inc. boosted its stake in NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after buying an additional 215 shares during the period. Synergy Investment Management LLC bought a new stake in NetApp during the fourth quarter valued at $32,000. Itau Unibanco Holding S.A. grew its position in NetApp by 929.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider’s stock worth $32,000 after buying an additional 251 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in NetApp in the 4th quarter worth about $35,000. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Down 0.8 %

NTAP opened at $94.39 on Friday. NetApp has a fifty-two week low of $89.88 and a fifty-two week high of $135.45. The firm has a market capitalization of $19.20 billion, a P/E ratio of 17.35, a PEG ratio of 2.45 and a beta of 1.24. The company’s 50-day moving average is $111.60 and its 200 day moving average is $117.77. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be paid a $0.52 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.20%. NetApp’s dividend payout ratio is 38.52%.

About NetApp

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.