Pacific Crest reissued their hold rating on shares of NetApp Inc. (NASDAQ:NTAP) in a research report released on Thursday morning.

NTAP has been the topic of several other reports. Piper Jaffray Cos. upped their target price on shares of NetApp from $26.00 to $31.00 and gave the company a neutral rating in a research report on Thursday, August 18th. RBC Capital Markets upped their target price on shares of NetApp to $32.00 in a research report on Thursday, August 18th. JPMorgan Chase & Co. restated a hold rating and set a $38.00 target price on shares of NetApp in a research report on Thursday. Credit Suisse Group AG restated a hold rating and set a $30.00 target price on shares of NetApp in a research report on Thursday. Finally, Summit Redstone upped their target price on shares of NetApp from $20.00 to $30.00 and gave the company a sell rating in a research report on Thursday, August 18th. Eleven equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and six have given a buy rating to the stock. NetApp has a consensus rating of Hold and an average price target of $32.54.

NetApp (NASDAQ:NTAP) traded up 0.366% during mid-day trading on Thursday, reaching $37.035. The company’s stock had a trading volume of 1,686,518 shares. The firm’s 50 day moving average is $33.95 and its 200-day moving average is $29.41. The stock has a market cap of $10.32 billion, a P/E ratio of 33.335 and a beta of 1.49. NetApp has a one year low of $20.66 and a one year high of $39.00.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, November 16th. The data storage provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.36 billion. NetApp had a net margin of 5.89% and a return on equity of 15.48%. The business’s revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. Equities analysts expect that NetApp will post $2.37 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Friday, January 6th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, January 4th. NetApp’s dividend payout ratio is currently 69.09%.

In related news, Director Jeffry R. Allen sold 10,980 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $35.24, for a total transaction of $386,935.20. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $528,600. The sale 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 stock in a transaction on Friday, August 26th. The stock was sold at an average price of $34.87, for a total transaction of $1,679,897.12. Following the sale, the chief executive officer now owns 92,746 shares of the company’s stock, valued at approximately $3,234,053.02. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

A number of hedge funds have recently modified their holdings of NTAP. LPL Financial LLC purchased a new position in shares of NetApp during the third quarter worth approximately $609,000. Cornerstone Capital Management Holdings LLC. increased its position in shares of NetApp by 1,008.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 694,606 shares of the data storage provider’s stock worth $24,879,000 after buying an additional 631,953 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of NetApp by 8.8% in the third quarter. Ameritas Investment Partners Inc. now owns 11,735 shares of the data storage provider’s stock worth $420,000 after buying an additional 948 shares during the last quarter. Verition Fund Management LLC increased its position in shares of NetApp by 34.1% in the third quarter. Verition Fund Management LLC now owns 12,104 shares of the data storage provider’s stock worth $434,000 after buying an additional 3,076 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in shares of NetApp by 387.3% in the third quarter. Candriam Luxembourg S.C.A. now owns 51,466 shares of the data storage provider’s stock worth $1,844,000 after buying an additional 40,904 shares during the last quarter. Hedge funds and other institutional investors own 89.59% of the company’s stock.

About NetApp

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.

5 Day Chart for NASDAQ:NTAP

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