NetApp, Inc. (NTAP) Position Raised by State of Wisconsin Investment Board

NetApp Inc

NetApp Inc

The brokerage presently has a "buy" rating on the data storage provider's stock. DA Davidson's target price points to a potential upside of 15.22% from the stock's current price.

A number of other research analysts have also recently issued reports on NTAP. BidaskClub cut shares of NetApp from a "buy" rating to a "hold" rating in a research note on Saturday, August 12th. Longbow Research upgraded NetApp from a "neutral" rating to a "buy" rating and set a $50.00 price target on the stock in a report on Tuesday, August 15th. Robert W. Baird reiterated a "neutral" rating and issued a $37.00 price objective on shares of NetApp in a research note on Wednesday, November 30th. Maxim Group reissued a buy rating and issued a $56.00 price objective on shares of NetApp in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and fourteen have given a buy rating to the company's stock. NetApp has an average rating of "Hold" and an average price target of $46.00.

NetApp (NASDAQ NTAP) opened at $46.00 on Tuesday.

Over the past 50 days, NetApp, Inc. stock was -2.84% off of the high and 22.13% removed from the low. The stock has a market capitalization of $9.91 billion, a P/E ratio of 32.67 and a beta of 1.49. NetApp's dividend payout ratio is now 69.09%.

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NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 16th. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The company earned $1.34 billion during the quarter, compared to analysts' expectations of $1.36 billion. After $0.53 actual earnings per share reported by Franklin Electric Co. for the previous quarter, Wall Street now forecasts -15.09% negative EPS growth. NetApp's revenue was up 2.4% on a year-over-year basis. equities analysts anticipate that NetApp will post 2.49 earnings per share for the current year. Finally, Oppenheimer Holdings, Inc. reissued a hold rating on shares of NetApp in a research report on Wednesday, October 4th. "(NTAP) Position Raised by State of Wisconsin Investment Board" was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another domain, it was illegally stolen and republished in violation of USA & global copyright & trademark laws. The correct version of this article can be viewed at investing/netapp-inc-ntap-director-sells-729000-00-in-stock/1118592.html. Finally, Barclays PLC raised shares of NetApp from an "underweight" rating to an "overweight" rating and raised their price objective for the stock from $38.00 to $52.00 in a research note on Thursday, November 9th. Following the sale, the senior vice president now owns 31,962 shares of the company's stock, valued at $1,489,429.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

In other NetApp news, Director Richard P. Wallace sold 34,000 shares of the business's stock in a transaction that occurred on Friday, September 29th. Following the completion of the transaction, the chief executive officer now owns 23,028 shares of the company's stock, valued at $874,603.44. The disclosure for this sale can be found here.

Several institutional investors have recently modified their holdings of the company. Morgan Stanley now owns 2,315,447 shares of the data storage provider's stock worth $82,941,000 after buying an additional 1,574,330 shares during the last quarter. Pillar Pacific Capital Management LLC acquired a new stake in NetApp during the third quarter worth approximately $206,000. BlackRock Institutional Trust Company N.A. raised its position in NetApp by 14.8% in the second quarter. Contravisory Investment Management Inc. boosted its holdings in shares of NetApp by 0.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 8,201 shares of the data storage provider's stock worth $328,000 after purchasing an additional 58 shares during the last quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider's stock worth $673,000 after purchasing an additional 100 shares during the last quarter. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Firm offers a portfolio of services and products that satisfy a range of customer workloads across different data types and deployment models.

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