NetApp, Inc. (NASDAQ:NTAP) Receives $129.07 Consensus Price Target from Analysts

Shares of NetApp, Inc. (NASDAQ:NTAP) have been assigned an average recommendation of “Hold” from the seventeen brokerages that are covering the stock, Marketbeat reports. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $129.07.

Several equities analysts have recently issued reports on the company. Loop Capital decreased their price objective on NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price objective on NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Barclays cut their target price on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their price target on NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th.

NetApp Trading Down 1.8 %

NASDAQ NTAP opened at $91.09 on Friday. The company has a fifty day moving average of $110.49 and a 200 day moving average of $117.41. The company has a market capitalization of $18.53 billion, a PE ratio of 16.74, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp has a 1 year low of $89.88 and a 1 year high of $135.45.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio (DPR) is 38.52%.

Insider Transactions at NetApp

In related news, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now directly owns 27,099 shares of the company’s stock, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $123.03, for a total transaction of $1,045,755.00. Following the sale, the chief executive officer now owns 271,282 shares in the company, valued at $33,375,824.46. The trade was a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,931 shares of company stock worth $6,252,759. 0.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NetApp

A number of large investors have recently modified their holdings of NTAP. Resonant Capital Advisors LLC grew its stake in shares of NetApp by 1.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock worth $516,000 after purchasing an additional 80 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider’s stock worth $438,000 after acquiring an additional 92 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock worth $64,000 after acquiring an additional 100 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of NetApp by 3.6% in the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider’s stock valued at $337,000 after acquiring an additional 100 shares during the last quarter. Finally, Coppell Advisory Solutions LLC raised its position in shares of NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider’s stock worth $35,000 after acquiring an additional 100 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.