NetApp Inc. (NTAP) Sets New 52-Week High at $34.98
Shares of NetApp Inc. (NASDAQ:NTAP) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $34.98 and last traded at $34.81, with a volume of 2,928,784 shares trading hands. The stock had previously closed at $34.71.
Several research firms have recently commented on NTAP. Wells Fargo & Co. reaffirmed a “market perform” rating on shares of NetApp in a report on Friday, August 19th. Goldman Sachs Group Inc. reaffirmed an “in-line” rating and set a $23.00 target price (down from $26.00) on shares of NetApp in a report on Friday, August 19th. Zacks Investment Research lowered NetApp from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. OTR Global raised NetApp from a “negative” rating to a “mixed” rating in a report on Thursday, August 11th. Finally, DA Davidson reaffirmed a “buy” rating and set a $35.00 target price (down from $37.00) on shares of NetApp in a report on Thursday, May 26th. Eleven investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $28.45.
The firm’s 50 day moving average is $27.21 and its 200-day moving average is $25.48. The company has a market capitalization of $9.76 billion and a price-to-earnings ratio of 31.49.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 17th. The data storage provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.36 by $0.10. During the same period in the prior year, the firm posted $0.29 earnings per share. The company earned $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. The company’s revenue was down 3.1% compared to the same quarter last year. On average, equities analysts forecast that NetApp Inc. will post $2.35 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Friday, October 7th will be given a $0.19 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.76 annualized dividend and a yield of 2.17%.
In related news, SVP Matthew K. Fawcett sold 17,808 shares of the business’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $24.98, for a total value of $444,843.84. Following the sale, the senior vice president now directly owns 14,715 shares of the company’s stock, valued at approximately $367,580.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joel D. Reich sold 2,241 shares of the business’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $24.35, for a total transaction of $54,568.35. Following the completion of the sale, the vice president now directly owns 489 shares in the company, valued at $11,907.15. The disclosure for this sale can be found here.
NetApp, Inc (NetApp) is engaged in providing software, systems and services to manage and store customer data. The Company offers a portfolio of products and services to a range of customer workloads across various data types and deployment models. Its data management solutions enable customers on-premises or in a public cloud resource to control, integrate, move and manage it.
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