2 weeks Ago By ABMN Staff
NetApp, Inc. ( NASDAQ:NTAP – Get Free Report ) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 6,470,000 shares, a growth of 22.
1% from the August 31st total of 5,300,000 shares. Currently, 3.2% of the shares of the company are short sold.
Based on an average trading volume of 1,720,000 shares, the days-to-cover ratio is currently 3.8 days. NetApp Stock Performance Shares of NASDAQ NTAP traded up $1.
79 during trading hours on Monday, hitting $123.03. 759,190 shares of the stock were exchanged, compared to its average volume of 1,890,401.
NetApp has a one year low of $70.82 and a one year high of $135.01.
The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.
91. The firm has a market capitalization of $25.32 billion, a P/E ratio of 26.
50, a P/E/G ratio of 4.61 and a beta of 1.23.
The company’s 50 day moving average is $123.18 and its 200 day moving average is $117.43.
NetApp ( NASDAQ:NTAP – Get Free Report ) last announced its quarterly earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.
45 by $0.11. NetApp had a return on equity of 121.
41% and a net margin of 17.01%. The business had revenue of $1.
54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm earned $0.
84 EPS. NetApp’s quarterly revenue was up 7.6% on a year-over-year basis.
On average, research analysts expect that NetApp will post 5.71 EPS for the current year. NetApp Dividend Announcement Insider Activity In related news, CAO Lorenzo Daniel De sold 1,685 shares of NetApp stock in a transaction on Tuesday, September 24th.
The shares were sold at an average price of $123.60, for a total value of $208,266.00.
The transaction was disclosed in a document filed with the SEC, which is available through the SEC website . In other news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $130.
36, for a total transaction of $1,108,060.00. Following the completion of the sale, the chief executive officer now owns 314,274 shares in the company, valued at approximately $40,968,758.
64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website . Also, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction dated Tuesday, September 24th.
The stock was sold at an average price of $123.60, for a total value of $208,266.00.
The disclosure for this sale can be found here . Insiders have sold 10,637 shares of company stock valued at $1,376,474 in the last ninety days. 0.
37% of the stock is currently owned by company insiders. Institutional Trading of NetApp A number of hedge funds have recently modified their holdings of NTAP. Hollencrest Capital Management acquired a new stake in NetApp during the 2nd quarter worth approximately $26,000.
Rise Advisors LLC bought a new stake in NetApp during the first quarter worth about $27,000. J.Safra Asset Management Corp grew its stake in NetApp by 706.
3% in the first quarter. J.Safra Asset Management Corp now owns 258 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 226 shares in the last quarter.
New Covenant Trust Company N.A. acquired a new position in shares of NetApp during the 1st quarter worth approximately $28,000.
Finally, Redwood Wealth Management Group LLC acquired a new position in NetApp during the second quarter worth $32,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In A number of brokerages have recently issued reports on NTAP. Morgan Stanley upped their target price on shares of NetApp from $106.00 to $127.
00 and gave the company an “equal weight” rating in a research note on Wednesday, June 12th. Susquehanna restated a “positive” rating and issued a $155.00 price target on shares of NetApp in a research report on Monday, August 26th.
Barclays boosted their price objective on shares of NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th.
Bank of America raised their target price on shares of NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th.
Finally, JPMorgan Chase & Co. boosted their price target on shares of NetApp from $146.00 to $147.
00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $129.
06. Read Our Latest Analysis on NTAP 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. Featured Stories Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter .
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