NetApp Inc. (NASDAQ:NTAP) had its target price boosted by Robert W. Baird to $40.00 in a report issued on Thursday morning. They currently have a neutral rating on the data storage provider’s stock.

A number of other brokerages also recently commented on NTAP. Credit Suisse Group AG reiterated a neutral rating on shares of NetApp in a research report on Friday, November 4th. Jefferies Group reaffirmed a hold rating and set a $29.00 price objective (up from $24.00) on shares of NetApp in a research note on Thursday, August 18th. Citigroup Inc. lifted their price objective on NetApp from $26.00 to $31.00 and gave the stock a neutral rating in a research note on Thursday, August 18th. BTIG Research reaffirmed a neutral rating on shares of NetApp in a research note on Thursday, August 18th. Finally, Royal Bank Of Canada lifted their price objective on NetApp from $36.00 to $40.00 and gave the stock a sector perform rating in a research note on Thursday. Eleven investment 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 company. The company presently has a consensus rating of Hold and a consensus price target of $32.54.

NetApp (NASDAQ:NTAP) traded up 0.49% on Thursday, hitting $37.08. 2,166,112 shares of the stock were exchanged. The firm has a market cap of $10.33 billion, a P/E ratio of 33.38 and a beta of 1.49. The company has a 50-day moving average of $33.95 and a 200 day moving average of $29.41. NetApp has a 12 month low of $20.66 and a 12 month 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 for the quarter, beating the consensus estimate of $0.54 by $0.06. NetApp had a return on equity of 15.48% and a net margin of 5.89%. The firm earned $1.34 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company earned $0.61 EPS. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. Equities research analysts expect that NetApp will post $2.37 earnings per share for the current fiscal year.

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

In other news, Director Robert T. Wall sold 22,944 shares of the stock in a transaction dated Tuesday, September 27th. The shares were 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 of the company’s stock, valued at $1,277,901.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 4,000 shares of the stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $35.16, for a total transaction of $140,640.00. Following the sale, the chief executive officer now directly owns 40,570 shares in the company, valued at approximately $1,426,441.20. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Several hedge funds have recently modified their holdings of NTAP. Creative Planning boosted its stake in shares of NetApp by 248.6% in the second quarter. Creative Planning now owns 10,495 shares of the data storage provider’s stock valued at $258,000 after buying an additional 7,484 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of NetApp by 1.2% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 247,222 shares of the data storage provider’s stock valued at $6,079,000 after buying an additional 3,027 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in shares of NetApp by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 74,829 shares of the data storage provider’s stock valued at $1,840,000 after buying an additional 4,444 shares in the last quarter. DNB Asset Management AS boosted its stake in shares of NetApp by 4.1% in the second quarter. DNB Asset Management AS now owns 17,797 shares of the data storage provider’s stock valued at $438,000 after buying an additional 700 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its stake in shares of NetApp by 46.9% in the first quarter. First Republic Investment Management Inc. now owns 19,931 shares of the data storage provider’s stock valued at $546,000 after buying an additional 6,363 shares in the last quarter. 89.59% of the stock is currently owned by institutional investors and hedge funds.

NetApp Company Profile

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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