Henri P. Richard Sells 2,525 Shares of NetApp Inc. (NTAP) Stock
NetApp Inc. (NASDAQ:NTAP) EVP Henri P. Richard sold 2,525 shares of the company’s stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $76.99, for a total value of $194,399.75. Following the transaction, the executive vice president now directly owns 65,907 shares of the company’s stock, valued at $5,074,179.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
NASDAQ NTAP opened at $77.57 on Friday. NetApp Inc. has a one year low of $43.24 and a one year high of $88.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.06 and a quick ratio of 2.03. The firm has a market capitalization of $20.50 billion, a P/E ratio of 25.94, a PEG ratio of 1.43 and a beta of 1.28.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 15th. The data storage provider reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.24. NetApp had a return on equity of 41.75% and a net margin of 3.68%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company earned $0.62 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts forecast that NetApp Inc. will post 3.91 earnings per share for the current year.
NTAP has been the subject of several research analyst reports. Citigroup upped their target price on NetApp from $70.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, August 13th. DA Davidson upped their target price on NetApp from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Tuesday, August 14th. BMO Capital Markets upped their target price on NetApp from $75.00 to $90.00 and gave the stock an “in-line” rating in a research note on Thursday, August 16th. Maxim Group upped their target price on NetApp from $81.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, August 16th. Finally, Royal Bank of Canada upped their target price on NetApp from $80.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Friday, August 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $81.38.
Large investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in NetApp by 270.0% in the 2nd quarter. Renaissance Technologies LLC now owns 2,332,932 shares of the data storage provider’s stock valued at $183,205,000 after buying an additional 1,702,432 shares in the last quarter. Palo Capital Inc. purchased a new stake in NetApp in the 2nd quarter valued at $4,465,000. Mount Yale Investment Advisors LLC purchased a new stake in NetApp in the 1st quarter valued at $191,000. Berkshire Capital Holdings Inc. purchased a new stake in NetApp in the 2nd quarter valued at $7,588,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in NetApp by 11.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 878,166 shares of the data storage provider’s stock valued at $68,962,000 after buying an additional 92,890 shares in the last quarter. Institutional investors own 94.61% of the company’s stock.
NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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