NetApp Inc. (NASDAQ:NTAP) SVP Matthew K. Fawcett sold 38,195 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $61.55, for a total value of $2,350,902.25. Following the completion of the transaction, the senior vice president now owns 38,527 shares of the company’s stock, valued at $2,371,336.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of NetApp stock traded down $0.50 on Thursday, reaching $58.82. The company’s stock had a trading volume of 1,750,108 shares, compared to its average volume of 2,651,746. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.45 and a quick ratio of 1.42. The business has a 50-day simple moving average of $61.11. The firm has a market capitalization of $14.15 billion, a P/E ratio of 14.63, a P/E/G ratio of 0.92 and a beta of 1.46. NetApp Inc. has a 52-week low of $54.50 and a 52-week high of $88.08.
NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, May 22nd. The data storage provider reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.03). The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.64 billion. NetApp had a return on equity of 71.66% and a net margin of 19.02%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.05 EPS. Research analysts expect that NetApp Inc. will post 4.38 earnings per share for the current year.
NTAP has been the topic of several recent research reports. Goldman Sachs Group upgraded Lenovo Group from a “neutral” rating to a “buy” rating in a report on Thursday, May 23rd. They noted that the move was a valuation call. Bank of America set a $30.00 target price on L Brands and gave the stock a “hold” rating in a research note on Thursday, May 23rd. DA Davidson lowered Avon Products from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $4.75 to $3.60 in a research note on Thursday, May 23rd. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of in a research note on Tuesday, June 25th. Finally, ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. Six analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. NetApp currently has an average rating of “Hold” and an average target price of $73.35.
A number of large investors have recently bought and sold shares of the business. Foundry Partners LLC raised its position in NetApp by 13.1% in the second quarter. Foundry Partners LLC now owns 3,674 shares of the data storage provider’s stock valued at $227,000 after purchasing an additional 425 shares during the period. NuWave Investment Management LLC increased its holdings in NetApp by 4,541.2% during the 2nd quarter. NuWave Investment Management LLC now owns 2,367 shares of the data storage provider’s stock worth $146,000 after purchasing an additional 2,316 shares during the period. Fox Run Management L.L.C. purchased a new stake in NetApp during the 2nd quarter worth about $426,000. NEXT Financial Group Inc acquired a new position in shares of NetApp during the 2nd quarter worth about $49,000. Finally, CWM Advisors LLC boosted its position in shares of NetApp by 13.1% during the 2nd quarter. CWM Advisors LLC now owns 4,465 shares of the data storage provider’s stock worth $276,000 after acquiring an additional 518 shares in the last quarter. Institutional investors own 99.25% of the company’s stock.
NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and share data 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.
Further Reading: Preferred Stock
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