NetApp (NASDAQ:NTAP - Free Report) had its price target hoisted by Barclays from $115.00 to $117.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the data storage provider's stock.
NTAP has been the topic of several other reports. Wells Fargo & Company cut their price objective on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating on the stock in a report on Friday. Wall Street Zen lowered shares of NetApp from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Citigroup increased their price objective on shares of NetApp from $90.00 to $105.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. UBS Group cut their price objective on shares of NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a report on Friday. Finally, Susquehanna lowered shares of NetApp from a "positive" rating to a "neutral" rating and cut their price objective for the stock from $155.00 to $130.00 in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, NetApp presently has a consensus rating of "Hold" and an average target price of $118.93.
Read Our Latest Analysis on NetApp
NetApp Trading Down 0.5%
NASDAQ:NTAP traded down $0.53 on Friday, reaching $98.68. The stock had a trading volume of 7,013,958 shares, compared to its average volume of 1,920,207. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 18.14, a P/E/G ratio of 2.45 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The firm's fifty day moving average is $90.19 and its two-hundred day moving average is $106.94. NetApp has a 12-month low of $71.84 and a 12-month high of $135.45.
NetApp (NASDAQ:NTAP - Get Free Report) last released its earnings results on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.03. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.80 EPS. Equities analysts expect that NetApp will post 5.89 EPS for the current fiscal year.
NetApp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, July 3rd. NetApp's dividend payout ratio (DPR) is 38.52%.
Insider Buying and Selling at NetApp
In related news, Director Anders Gustafsson purchased 2,800 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was acquired at an average price of $91.00 per share, with a total value of $254,800.00. Following the completion of the transaction, the director now owns 6,348 shares of the company's stock, valued at $577,668. This represents a 78.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth M. O'callahan sold 528 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $92.58, for a total transaction of $48,882.24. Following the sale, the executive vice president now directly owns 12,900 shares of the company's stock, valued at $1,194,282. The trade was a 3.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,724 shares of company stock valued at $2,520,032 over the last 90 days. 0.47% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On NetApp
Hedge funds have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. acquired a new position in NetApp in the fourth quarter worth $26,000. Assetmark Inc. boosted its holdings in 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 purchasing an additional 215 shares during the period. Synergy Investment Management LLC acquired a new position in NetApp in the fourth quarter worth $32,000. Itau Unibanco Holding S.A. boosted its holdings in 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 purchasing an additional 251 shares during the period. Finally, 1248 Management LLC acquired a new position in NetApp in the first quarter worth $25,000. Institutional investors and hedge funds own 92.17% of the company's stock.
NetApp Company Profile
(
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.
Read More

Before you consider NetApp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NetApp wasn't on the list.
While NetApp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.