NetApp Inc. (NASDAQ:NTAP) had its price objective lifted by investment analysts at Citigroup Inc from $44.00 to $46.00 in a report issued on Friday. The firm currently has a “neutral” rating on the data storage provider’s stock. Citigroup Inc’s price objective would indicate a potential upside of 16.49% from the company’s previous close.

NTAP has been the subject of several other reports. Morgan Stanley reiterated an “underweight” rating and issued a $26.00 price target (up from $24.00) on shares of NetApp in a report on Thursday, December 29th. William Blair upgraded NetApp from an “underperform” rating to a “market perform” rating and set a $43.00 price objective for the company in a report on Thursday, February 16th. BTIG Research restated a “neutral” rating on shares of NetApp in a report on Tuesday, February 14th. Goldman Sachs Group Inc restated a “neutral” rating and set a $36.00 price objective (up from $32.00) on shares of NetApp in a report on Thursday, December 29th. Finally, Wells Fargo & Co restated a “market perform” rating on shares of NetApp in a report on Thursday, February 16th. Seven research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $40.16.

Analyst Recommendations for NetApp (NASDAQ:NTAP)

Shares of NetApp (NASDAQ:NTAP) traded down 2.03% during trading on Friday, hitting $39.49. The company’s stock had a trading volume of 1,859,418 shares. The stock has a market cap of $10.70 billion, a PE ratio of 36.06 and a beta of 1.50. The company has a 50-day moving average price of $41.30 and a 200-day moving average price of $37.49. NetApp has a one year low of $22.50 and a one year high of $43.14.



NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, February 15th. The data storage provider reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.08. The company earned $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. NetApp had a return on equity of 15.66% and a net margin of 5.89%. During the same period in the previous year, the firm posted $0.70 EPS. Equities analysts predict that NetApp will post $2.70 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Friday, April 7th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, April 5th. This represents a $0.76 annualized dividend and a yield of 1.92%. NetApp’s dividend payout ratio (DPR) is 69.09%.

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In related news, Director Alan L. Earhart sold 27,422 shares of the stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $42.46, for a total transaction of $1,164,338.12. Following the sale, the director now owns 21,611 shares in the company, valued at $917,603.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO George Kurian sold 4,000 shares of the stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $41.53, for a total transaction of $166,120.00. Following the sale, the chief executive officer now owns 24,396 shares in the company, valued at approximately $1,013,165.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,422 shares of company stock worth $1,484,458. 0.49% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the company. Seven Eight Capital LP acquired a new stake in NetApp during the fourth quarter valued at $118,000. Carroll Financial Associates Inc. purchased a new stake in shares of NetApp during the first quarter valued at approximately $123,000. Victory Capital Management Inc. raised its stake in shares of NetApp by 44.2% in the third quarter. Victory Capital Management Inc. now owns 5,321 shares of the data storage provider’s stock valued at $191,000 after buying an additional 1,631 shares during the last quarter. Orinda Asset Management LLC purchased a new stake in shares of NetApp during the third quarter valued at approximately $202,000. Finally, Integral Derivatives LLC purchased a new stake in shares of NetApp during the fourth quarter valued at approximately $215,000. Hedge funds and other institutional investors own 92.52% of the company’s stock.

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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