NetApp (NASDAQ:NTAP) was downgraded by TheStreet from a “b” rating to a “c+” rating in a report released on Wednesday, TheStreetRatingsTable reports.
A number of other equities analysts have also recently commented on the company. Loop Capital raised their target price on NetApp to $70.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Oppenheimer reaffirmed a “hold” rating on shares of NetApp in a report on Wednesday. William Blair reaffirmed a “market perform” rating on shares of NetApp in a report on Thursday, November 14th. Susquehanna Bancshares reaffirmed a “buy” rating and issued a $85.00 target price on shares of NetApp in a report on Monday. Finally, Maxim Group raised their target price on NetApp from $66.00 to $74.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $64.00.
Shares of NTAP stock traded down $0.94 on Wednesday, reaching $54.24. The stock had a trading volume of 3,217,318 shares, compared to its average volume of 2,375,587. The stock has a market cap of $13.25 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. NetApp has a 1 year low of $44.55 and a 1 year high of $78.35. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.27 and a current ratio of 1.31. The company has a 50 day simple moving average of $60.10 and a 200 day simple moving average of $56.27.
In other NetApp news, CAO Scott R. Allen sold 2,781 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $62.23, for a total transaction of $173,061.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Henri P. Richard sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $64.20, for a total value of $160,500.00. Following the sale, the executive vice president now directly owns 143,855 shares in the company, valued at $9,235,491. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,284 shares of company stock worth $333,743. Insiders own 0.33% of the company’s stock.
Large investors have recently bought and sold shares of the business. Maverick Capital Ltd. raised its holdings in NetApp by 193.4% during the third quarter. Maverick Capital Ltd. now owns 72,287 shares of the data storage provider’s stock valued at $3,796,000 after acquiring an additional 47,647 shares during the period. Andra AP fonden grew its position in shares of NetApp by 0.4% during the third quarter. Andra AP fonden now owns 95,700 shares of the data storage provider’s stock valued at $5,025,000 after purchasing an additional 400 shares in the last quarter. Millennium Management LLC grew its position in shares of NetApp by 411.8% during the third quarter. Millennium Management LLC now owns 600,711 shares of the data storage provider’s stock valued at $31,543,000 after purchasing an additional 483,335 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of NetApp during the third quarter valued at about $134,000. Finally, Comerica Bank grew its position in shares of NetApp by 14.4% during the third quarter. Comerica Bank now owns 83,506 shares of the data storage provider’s stock valued at $4,631,000 after purchasing an additional 10,484 shares in the last quarter. 98.26% of the stock is currently owned by institutional investors and hedge funds.
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.
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