NetApp (NASDAQ:NTAP) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday.
A number of other research analysts also recently weighed in on NTAP. Zacks Investment Research raised shares of NetApp from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Thursday, December 13th. ValuEngine downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $79.54.
NetApp stock opened at $63.77 on Wednesday. The firm has a market capitalization of $15.77 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 1.10 and a beta of 1.33. NetApp has a 1-year low of $52.00 and a 1-year high of $88.08. The company has a quick ratio of 1.63, a current ratio of 1.65 and a debt-to-equity ratio of 0.75.
In other news, EVP Henri P. Richard sold 2,525 shares of NetApp stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $69.55, for a total value of $175,613.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Kurian sold 10,000 shares of NetApp stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $66.66, for a total transaction of $666,600.00. Following the completion of the transaction, the chief executive officer now directly owns 10,244 shares of the company’s stock, valued at approximately $682,865.04. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Pensionfund DSM Netherlands acquired a new stake in shares of NetApp during the 4th quarter worth about $1,671,000. Federated Investors Inc. PA raised its stake in NetApp by 15.3% in the 3rd quarter. Federated Investors Inc. PA now owns 584,780 shares of the data storage provider’s stock worth $50,227,000 after purchasing an additional 77,411 shares in the last quarter. Aperio Group LLC raised its stake in NetApp by 17.0% in the 3rd quarter. Aperio Group LLC now owns 169,691 shares of the data storage provider’s stock worth $14,575,000 after purchasing an additional 24,601 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in NetApp by 1.5% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 70,090 shares of the data storage provider’s stock worth $6,020,000 after purchasing an additional 1,012 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its stake in NetApp by 1.1% in the 3rd quarter. Great Lakes Advisors LLC now owns 67,985 shares of the data storage provider’s stock worth $5,839,000 after purchasing an additional 723 shares in the last quarter. 93.71% of the stock is owned by institutional investors.
NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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