NetApp Inc. (NTAP) to Release Quarterly Earnings on Wednesday
NetApp Inc. (NASDAQ:NTAP) will announce its earnings results after the market closes on Wednesday, November 16th. Analysts expect the company to announce earnings of $0.54 per share for the quarter.
NetApp Inc. (NASDAQ:NTAP) opened at 34.93 on Tuesday. The company’s 50-day moving average price is $33.93 and its 200 day moving average price is $29.24. NetApp Inc. has a 52-week low of $20.66 and a 52-week high of $36.10. The stock has a market capitalization of $9.73 billion, a PE ratio of 31.44 and a beta of 1.49.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 26th. Stockholders of record on Friday, October 7th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.18%. NetApp’s dividend payout ratio (DPR) is currently 68.47%.
A number of equities analysts have recently issued reports on the company. Piper Jaffray Cos. raised their price target on NetApp from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, August 18th. RBC Capital Markets raised their price target on NetApp to $32.00 in a research note on Thursday, August 18th. Summit Redstone raised their price target on NetApp from $20.00 to $30.00 and gave the stock a “sell” rating in a research note on Thursday, August 18th. Zacks Investment Research upgraded NetApp from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a research note on Friday, August 19th. Finally, Drexel Hamilton restated a “hold” rating on shares of NetApp in a research note on Wednesday, August 17th. Eleven investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $30.16.
In other NetApp news, Director Robert T. Wall sold 22,944 shares of the business’s stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $35.45, for a total transaction of $813,364.80. Following the sale, the director now owns 36,048 shares in the company, valued at approximately $1,277,901.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO George Kurian sold 48,176 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $34.87, for a total value of $1,679,897.12. Following the sale, the chief executive officer now owns 92,746 shares in the company, valued at approximately $3,234,053.02. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Sei Investments Co. increased its stake in NetApp by 4.6% in the second quarter. Sei Investments Co. now owns 218,775 shares of the data storage provider’s stock valued at $5,379,000 after buying an additional 9,570 shares during the last quarter. Public Sector Pension Investment Board increased its stake in NetApp by 16.4% in the second quarter. Public Sector Pension Investment Board now owns 54,780 shares of the data storage provider’s stock valued at $1,347,000 after buying an additional 7,700 shares during the last quarter. Alliancebernstein L.P. increased its stake in NetApp by 2.7% in the second quarter. Alliancebernstein L.P. now owns 541,483 shares of the data storage provider’s stock valued at $13,315,000 after buying an additional 14,162 shares during the last quarter. Tredje AP fonden increased its stake in NetApp by 19.6% in the second quarter. Tredje AP fonden now owns 49,665 shares of the data storage provider’s stock valued at $1,221,000 after buying an additional 8,125 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in NetApp during the second quarter valued at $658,000. Institutional investors and hedge funds own 89.59% of the company’s stock.
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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