NetApp, Inc. (NTAP) Rating Reiterated by Oppenheimer Holdings, Inc.
NetApp, Inc. (NASDAQ:NTAP)‘s stock had its “hold” rating reissued by research analysts at Oppenheimer Holdings, Inc. in a research note issued on Wednesday.
A number of other research analysts have also recently weighed in on the stock. BidaskClub cut shares of NetApp from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Zacks Investment Research upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Wednesday. Robert W. Baird reissued a “hold” rating and set a $46.00 target price on shares of NetApp in a research note on Wednesday. Credit Suisse Group increased their target price on shares of NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Finally, Citigroup Inc. raised their target price on NetApp from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $45.12.
NetApp (NASDAQ:NTAP) traded down 0.18% on Wednesday, hitting $44.31. The stock had a trading volume of 1,528,510 shares. The company has a market cap of $11.95 billion, a price-to-earnings ratio of 21.40 and a beta of 1.26. The company has a 50 day moving average price of $40.55 and a 200-day moving average price of $40.68. NetApp has a 52-week low of $30.36 and a 52-week high of $45.24.
NetApp (NASDAQ:NTAP) last released 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 analyst estimates of $1.32 billion. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. On average, equities research analysts predict that NetApp will post $3.13 earnings per share for the current year.
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In other NetApp news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $43.89, for a total value of $86,726.64. Following the completion of the transaction, the executive vice president now directly owns 15,836 shares of the company’s stock, valued at approximately $695,042.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Henri P. Richard sold 3,952 shares of NetApp stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $42.20, for a total value of $166,774.40. The disclosure for this sale can be found here. In the last three months, insiders sold 52,450 shares of company stock worth $2,250,560. 0.47% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of NTAP. Vanguard Group Inc. boosted its stake in shares of NetApp by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,214,474 shares of the data storage provider’s stock valued at $1,089,939,000 after purchasing an additional 481,365 shares during the period. BlackRock Inc. grew its holdings in shares of NetApp by 7.5% in the second quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock valued at $867,006,000 after purchasing an additional 1,517,967 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of NetApp by 781.1% in the second quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock valued at $133,750,000 after purchasing an additional 2,960,542 shares in the last quarter. FMR LLC grew its holdings in shares of NetApp by 89.2% in the second quarter. FMR LLC now owns 3,044,302 shares of the data storage provider’s stock valued at $121,924,000 after purchasing an additional 1,435,588 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of NetApp by 5.7% in the first quarter. Geode Capital Management LLC now owns 3,042,360 shares of the data storage provider’s stock valued at $127,165,000 after purchasing an additional 164,120 shares in the last quarter. 92.08% 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.
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