NetApp, Inc. (NASDAQ:NTAP) – Stock analysts at William Blair boosted their Q3 2018 earnings per share estimates for shares of NetApp in a research note issued to investors on Thursday. William Blair analyst J. Ader now expects that the data storage provider will post earnings per share of $0.74 for the quarter, up from their prior forecast of $0.73.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, August 16th. The data storage provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS.

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Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of NetApp from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. BidaskClub lowered shares of NetApp from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Royal Bank Of Canada reiterated a “hold” rating on shares of NetApp in a report on Friday, April 28th. OTR Global upgraded shares of NetApp to a “positive” rating in a report on Monday, May 15th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $62.00 price objective on shares of NetApp in a report on Wednesday, May 24th. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $43.69.

NetApp (NASDAQ NTAP) opened at 39.35 on Monday. The company has a market cap of $10.62 billion, a PE ratio of 19.00 and a beta of 1.21. NetApp has a 12-month low of $30.36 and a 12-month high of $45.24. The firm’s 50-day moving average price is $42.09 and its 200-day moving average price is $40.72.

Several hedge funds have recently made changes to their positions in NTAP. American Beacon Advisors Inc. acquired a new stake in shares of NetApp during the first quarter worth approximately $110,000. Krilogy Financial LLC acquired a new stake in shares of NetApp during the second quarter worth approximately $122,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of NetApp by 3.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,189 shares of the data storage provider’s stock worth $208,000 after buying an additional 185 shares during the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of NetApp during the first quarter worth approximately $209,000. Finally, Eagle Global Advisors LLC acquired a new stake in shares of NetApp during the second quarter worth approximately $210,000. Institutional investors own 90.10% of the company’s stock.

In related news, CEO George Kurian sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $40.12, for a total transaction of $160,480.00. Following the sale, the chief executive officer now directly owns 65,123 shares in the company, valued at approximately $2,612,734.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $43.41, for a total transaction of $85,778.16. Following the sale, the executive vice president now owns 19,788 shares in the company, valued at $858,997.08. The disclosure for this sale can be found here. Insiders have sold a total of 117,518 shares of company stock worth $4,726,762 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 6th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Thursday, October 5th. NetApp’s payout ratio is currently 38.65%.

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.

Earnings History and Estimates for NetApp (NASDAQ:NTAP)

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