Analysts Set NetApp, Inc. (NASDAQ:NTAP) PT at $137.33

Shares of NetApp, Inc. (NASDAQ:NTAP) have received an average rating of “Hold” from the seventeen brokerages that are presently covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $137.33.

A number of equities research analysts have recently commented on NTAP shares. Barclays upped their price objective on shares of NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Wedbush reaffirmed a “neutral” rating and set a $120.00 price target on shares of NetApp in a research report on Friday, November 22nd. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. Stifel Nicolaus boosted their price objective on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley raised their target price on NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th.

NetApp Stock Performance

Shares of NTAP stock opened at $124.49 on Monday. The stock has a market capitalization of $25.31 billion, a PE ratio of 22.88, a PEG ratio of 2.45 and a beta of 1.23. The business’s 50 day simple moving average is $120.19 and its 200 day simple moving average is $122.04. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp has a one year low of $86.43 and a one year high of $135.45.

Insiders Place Their Bets

In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Monday, December 16th. The shares were sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the transaction, the chief executive officer now directly owns 279,782 shares of the company’s stock, valued at $34,774,104.78. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now owns 27,099 shares in the company, valued at approximately $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,903 shares of company stock worth $7,260,341. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On NetApp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of NetApp during the fourth quarter valued at approximately $26,000. Assetmark Inc. increased its holdings in NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after buying an additional 215 shares during the last quarter. Synergy Investment Management LLC bought a new position in NetApp during the fourth quarter valued at $32,000. Itau Unibanco Holding S.A. raised its stake in shares of NetApp by 929.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider’s stock valued at $32,000 after buying an additional 251 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in shares of NetApp during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

About NetApp

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.