NetApp (NASDAQ:NTAP - Get Free Report) had its target price decreased by equities research analysts at Loop Capital from $150.00 to $130.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the data storage provider's stock. Loop Capital's target price indicates a potential upside of 38.64% from the stock's previous close.
A number of other equities research analysts have also recently issued reports on the stock. Oppenheimer assumed coverage on shares of NetApp in a research note on Wednesday, November 13th. They issued a "market perform" rating for the company. Wells Fargo & Company cut their price objective on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. cut their price objective on shares of NetApp from $160.00 to $153.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Citigroup cut their price objective on shares of NetApp from $135.00 to $110.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Finally, Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $129.07.
View Our Latest Report on NTAP
NetApp Price Performance
NTAP stock traded up $1.91 during midday trading on Tuesday, reaching $93.77. The company had a trading volume of 2,480,918 shares, compared to its average volume of 1,856,425. 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 $91.16 and a 1 year high of $135.45. The company has a market capitalization of $19.07 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.45 and a beta of 1.24. The firm has a 50-day moving average price of $117.43 and a 200-day moving average price of $120.63.
Insider Activity at NetApp
In related news, EVP Elizabeth M. O'callahan sold 452 shares of NetApp stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $120.75, for a total transaction of $54,579.00. Following the completion of the transaction, the executive vice president now directly owns 11,553 shares of the company's stock, valued at $1,395,024.75. This trade represents a 3.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the sale, the chief executive officer now owns 279,782 shares of the company's stock, valued at approximately $34,774,104.78. This represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,903 shares of company stock valued at $7,260,341 in the last three months. Company insiders own 0.47% of the company's stock.
Institutional Trading of NetApp
Institutional investors and hedge funds have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in NetApp during the 4th quarter valued at about $26,000. Assetmark Inc. grew its stake in shares of NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after acquiring an additional 215 shares during the period. Synergy Investment Management LLC bought a new stake in shares of NetApp in the fourth quarter worth approximately $32,000. Itau Unibanco Holding S.A. grew its stake in shares of NetApp by 929.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after acquiring an additional 251 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in shares of NetApp in the fourth quarter worth approximately $35,000. 92.17% of the stock is currently owned by institutional investors.
About NetApp
(
Get Free Report)
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.
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