TheStreet upgraded shares of NetApp Inc. (NASDAQ:NTAP) from a hold rating to a buy rating in a report issued on Wednesday morning.

A number of other equities analysts also recently issued reports on the stock. Pacific Crest reissued a hold rating on shares of NetApp in a report on Thursday. Credit Suisse Group AG reissued a hold rating and issued a $30.00 price objective on shares of NetApp in a report on Thursday. JPMorgan Chase & Co. reissued a hold rating and issued a $38.00 price objective on shares of NetApp in a report on Thursday. Maxim Group downgraded shares of NetApp from a buy rating to a hold rating and raised their price objective for the stock from $40.00 to $43.00 in a report on Thursday. They noted that the move was a valuation call. Finally, Lake Street Capital raised their price objective on shares of NetApp from $31.00 to $32.00 and gave the stock a hold rating in a report on Thursday. Eleven investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $32.54.

NetApp (NASDAQ:NTAP) opened at 37.00 on Wednesday. The stock has a 50 day moving average of $33.93 and a 200-day moving average of $29.46. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 33.30 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 posted its quarterly earnings data on Wednesday, November 16th. The data storage provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.36 billion. NetApp had a net margin of 5.89% and a return on equity of 15.66%. The firm’s revenue was down 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 earnings per share. On average, equities analysts predict that NetApp will post $2.53 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Investors 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 yield of 2.05%. The ex-dividend date of this dividend is Wednesday, January 4th. NetApp’s dividend payout ratio is presently 69.09%.

In related news, Director Jeffry R. Allen sold 10,980 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $35.24, for a total transaction of $386,935.20. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $528,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO George Kurian sold 48,176 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $34.87, for a total value of $1,679,897.12. Following the transaction, the chief executive officer now directly owns 92,746 shares in the company, 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.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning raised its stake in 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 during the period. Chevy Chase Trust Holdings Inc. raised its stake in 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 during the period. Exxonmobil Investment Management Inc. TX raised its stake in 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 during the period. DNB Asset Management AS raised its stake in 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 during the period. Finally, First Republic Investment Management Inc. raised its stake in 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 during the period. 89.59% of the stock is currently owned by hedge funds and other institutional investors.

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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