November 28, 2016 - By Marie Mckinney · 0 Comments
Netapp Inc (NASDAQ:NTAP) institutional sentiment increased to 1.01 in Q2 2016. Its up 0.13, from 0.88 in 2016Q1. The ratio has improved, as 149 funds opened new or increased stock positions, while 170 trimmed and sold equity positions in Netapp Inc. The funds in our partner’s database now have: 246.36 million shares, down from 262.24 million shares in 2016Q1. Also, the number of funds holding Netapp Inc in their top 10 stock positions decreased from 2 to 1 for a decrease of 1. Sold All: 42 Reduced: 128 Increased: 125 New Position: 24.
NetApp, Inc. provides software, systems and services to manage and store customer data. The company has a market cap of $10.28 billion. The Firm enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. It has a 33.29 P/E ratio. The Firm offers a portfolio of services and products that satisfy a range of customer workloads across different data types and deployment models.
The stock closed at $36.61 during the last session. It is down 49.31% since April 25, 2016 and is uptrending. It has outperformed by 43.29% the S&P500.
Analysts await NetApp Inc. (NASDAQ:NTAP) to report earnings on February, 15. They expect $0.46 earnings per share, down 11.54% or $0.06 from last year’s $0.52 per share. NTAP’s profit will be $129.17M for 19.90 P/E if the $0.46 EPS becomes a reality. After $0.42 actual earnings per share reported by NetApp Inc. for the previous quarter, Wall Street now forecasts 9.52% EPS growth.
According to Zacks Investment Research, “NetApp Inc., formerly Network Appliance, Inc., is a leading provider of innovative data management solutions that simplify the complexity of storing, managing, protecting, and retaining enterprise data. Market leaders around the world choose NetApp to help them reduce cost, minimize risk, and adapt to change.”
Sirios Capital Management L P holds 2.94% of its portfolio in NetApp Inc. for 2.49 million shares. Lyons Wealth Management Llc. owns 59,245 shares or 2.2% of their US portfolio. Moreover, Aimz Investment Advisors Llc has 1.93% invested in the company for 85,675 shares. The Illinois-based Evanston Investments Inc. Dba Evanston Advisors has invested 1.93% in the stock. Petrus Trust Company Lta, a Texas-based fund reported 325,244 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 10 sales for $5.72 million net activity.
Ratings analysis reveals 12% of Netapp Inc.’s analysts are positive. Out of 33 Wall Street analysts rating Netapp Inc., 4 give it “Buy”, 10 “Sell” rating, while 19 recommend “Hold”. The lowest target is $20 while the high is $45. The stock’s average target of $30.30 is -17.24% below today’s ($36.61) share price. NTAP was included in 80 notes of analysts from August 17, 2015. Goldman Sachs maintained the shares of NTAP in a report on Thursday, August 18 with “Sell” rating. Monness Crespi upgraded the shares of NTAP in a report on Thursday, February 18 to “Neutral” rating. Citigroup maintained it with “Neutral” rating and $31 target price in Thursday, August 18 report. The rating was upgraded by Zacks on Monday, August 24 to “Hold”. Goldman Sachs maintained the stock with “Sell” rating in Thursday, May 26 report. The stock of NetApp Inc. (NASDAQ:NTAP) has “Hold” rating given on Thursday, May 26 by JMP Securities. The stock of NetApp Inc. (NASDAQ:NTAP) earned “Hold” rating by Standpoint Research on Friday, September 30. The rating was maintained by Deutsche Bank on Saturday, August 22 with “Hold”. Maxim Group maintained NetApp Inc. (NASDAQ:NTAP) rating on Tuesday, October 27. Maxim Group has “Buy” rating and $45 price target. The stock has “Hold” rating given by Brean Capital on Thursday, August 20.
NetApp, Inc. (NetApp), incorporated on November 1, 2001, provides software, systems and services to manage and store customer data. The Firm 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. The Company’s data management and storage offerings help manage business productivity, performance and profitability, while providing investment protection and asset utilization. The Company’s FlexPod portfolio includes FlexPod Datacenter for core enterprise data centers and service providers, FlexPod Express for medium-sized businesses and branch offices, and FlexPod Select for data-intensive workloads. The portfolio is validated with hypervisors, operating systems, systems management tools, and cloud management platforms.
More important recent NetApp Inc. (NASDAQ:NTAP) news were published by: Marketwatch.com which released: “NetApp shares up 7% after earnings beat” on November 16, 2016, also Profitconfidential.com published article titled: “NetApp Inc.: This Is Why NTAP Stock Is Surging”, Marketwatch.com published: “NetApp to lay off 6% of workforce as cost-cutting continues” on November 04, 2016. More interesting news about NetApp Inc. (NASDAQ:NTAP) was released by: Nasdaq.com and their article: “Earnings Reaction History: NetApp Inc, 44.4% Follow-Through Indicator, 5.3 …” with publication date: November 16, 2016.
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By Marie Mckinney