NetApp (NASDAQ:NTAP) Given New $101.00 Price Target at Northland Securities

NetApp (NASDAQ:NTAPGet Rating) had its price objective dropped by equities research analysts at Northland Securities from $124.00 to $101.00 in a research note issued on Thursday, The Fly reports. Northland Securities’ price target would suggest a potential upside of 38.41% from the company’s previous close.

A number of other research firms also recently issued reports on NTAP. Deutsche Bank Aktiengesellschaft boosted their target price on shares of NetApp from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, March 23rd. Morgan Stanley decreased their target price on shares of NetApp from $91.00 to $88.00 and set an “equal weight” rating for the company in a research report on Thursday. Raymond James decreased their target price on shares of NetApp from $104.00 to $94.00 in a research report on Thursday. Susquehanna Bancshares cut their price objective on shares of NetApp from $110.00 to $100.00 and set a “positive” rating for the company in a report on Thursday. Finally, Barclays cut their price objective on shares of NetApp from $102.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $94.42.

Shares of NASDAQ:NTAP traded up $0.46 on Thursday, hitting $72.97. 45,428 shares of the company were exchanged, compared to its average volume of 1,863,523. NetApp has a 1-year low of $64.58 and a 1-year high of $96.82. The stock’s 50 day moving average price is $75.73 and its 200 day moving average price is $83.80. The company has a current ratio of 1.55, a quick ratio of 1.51 and a debt-to-equity ratio of 2.70. The firm has a market capitalization of $16.24 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 1.83 and a beta of 1.24.

NetApp (NASDAQ:NTAPGet Rating) last posted its quarterly earnings data on Wednesday, June 1st. The data storage provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.28 by $0.14. NetApp had a net margin of 16.34% and a return on equity of 126.47%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts predict that NetApp will post 4.25 EPS for the current fiscal year.

In other NetApp news, President Cesar Cernuda sold 14,000 shares of the business’s stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $80.79, for a total value of $1,131,060.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 2,125 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $66.95, for a total transaction of $142,268.75. Following the completion of the transaction, the chief executive officer now owns 156,129 shares in the company, valued at $10,452,836.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,750 shares of company stock valued at $2,124,859. 0.28% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Assetmark Inc. lifted its holdings in shares of NetApp by 150.4% in the 3rd quarter. Assetmark Inc. now owns 288 shares of the data storage provider’s stock worth $26,000 after acquiring an additional 173 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of NetApp by 0.6% in the 3rd quarter. Macquarie Group Ltd. now owns 142,152 shares of the data storage provider’s stock worth $12,759,000 after acquiring an additional 835 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of NetApp by 2.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 23,571 shares of the data storage provider’s stock worth $2,115,000 after acquiring an additional 650 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of NetApp by 47.0% in the 3rd quarter. Clearstead Advisors LLC now owns 897 shares of the data storage provider’s stock worth $81,000 after acquiring an additional 287 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of NetApp by 31.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 101,347 shares of the data storage provider’s stock worth $9,097,000 after acquiring an additional 24,391 shares during the last quarter. Institutional investors own 91.91% of the company’s stock.

NetApp Company Profile (Get Rating)

NetApp, Inc provides software, systems, and cloud services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud storage services, including NetApp Cloud Volumes; cloud control solutions, such as NetApp Cloud Manager and NetApp Virtual Desktop Service; cloud services and analytics comprising NetApp Cloud Insights, NetApp Cloud Sync, NetApp Cloud Compliance, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Cloud Backup, and NetApp Global File Cache; and Cloud Optimization solutions, such as Spot by NetApp, Spot Cloud Analyzer by NetApp, Spot Eco by NetApp, Spot Ocean by NetApp, Spot Wave by NetApp, Spot Elastigroup by NetApp, and NetApp Virtual Desktop Managed Service.

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