NetApp, Inc. (NTAP) Issues Earnings Results, Beats Expectations By $0.12 EPS

Netapp Inc

Afam Capital Inc. lifted its position in NetApp by 139.2% during the third quarter. This gauge is crucial in determining whether investors are moved toward the direction of buying more of the stock, or else doing the contradictory side and selling more of the stock. $527,143 worth of NetApp Inc. It dived, as 39 investors sold NetApp Inc. shares while 130 reduced holdings.

Pomelo Capital Llc increased Weatherford Intl Plc (NYSE:WFT) stake by 520,000 shares to 530,000 valued at $2.05 million in 2017Q2. Exane Derivatives now owns 2,398 shares of the data storage provider's stock worth $105,000 after purchasing an additional 2,394 shares during the period. Belpointe Asset Management LLC acquired a new position in NetApp during the third quarter valued at $471,000. LPL Financial LLC bought a new stake in NetApp during the third quarter worth about $609,000. First Personal Financial Services now owns 2,764 shares of the data storage provider's stock worth $121,000 after acquiring an additional 2,754 shares in the last quarter.

Since May 26, 2017, it had 0 insider purchases, and 6 insider sales for $2.60 million activity.

NetApp, Inc. (NASDAQ:NTAP) received a Buy rating from 5 analysts. Susquehanna Bancshares Inc reissued a "positive" rating and set a $50.00 price objective (up previously from $48.00) on shares of NetApp in a report on Wednesday, August 16th. UBS upgraded the stock to "Buy" rating in Tuesday, September 19 report. The average investment rating for NTAP on a scale of 1 to 5 (1 being a strong sell and 5 being a strong buy) is a 3.75 or a Hold. Citigroup maintained it with "Neutral" rating and $31 target in Thursday, August 18 report. Finally, BMO Capital Markets raised NetApp from a "market perform" rating to an "outperform" rating in a report on Thursday. Two analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and fourteen have issued a buy rating to the stock. NetApp presently has a consensus rating of "Hold" and a consensus price target of $33.07. ALLEN JEFFRY R also sold $809,134 worth of NetApp Inc.

Shares of NetApp (NASDAQ:NTAP) traded up $7.29 during midday trading on Monday, reaching $53.11. NetApp has a one year low of $34.72 and a one year high of $53.89. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.27. After $0.40 actual earnings per share reported by Vale SA (ADR) for the previous quarter, Wall Street now forecasts -50.00% negative EPS growth. Additionally, NetApp scored an outclass with EPS of $0.81 against consensus of $0.69, which Parker attributes to "cost discipline (expected) but more importantly meaningful product gross margin improvement (unexpected)".

27 analysts on average are expecting the company to report revenue of $1.44 Billion for the current quarter.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.51%.

The focus shifting on performance of the NetApp, Inc. Netapp Inc now has $12.36B valuation. If you are viewing this report on another domain, it was illegally stolen and republished in violation of USA & global trademark & copyright laws. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2017/11/17/netapp-inc-ntap-stake-boosted-by-fdx-advisors-inc.html. Also, SVP Matthew K. Fawcett sold 29,845 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $35.16, for a total transaction of $140,640.00. Following the transaction, the director now directly owns 36,048 shares in the company, valued at approximately $1,277,901.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The shares were sold at an average price of $37.98, for a total transaction of $173,568.60. Insider ownership during the latest quarter decreased by a net of 75908 shares, indicating that NTAP's key executives are feeling more bearish about the stock than they did three months ago. The disclosure for this sale can be found here. The Firm enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments.

ILLEGAL ACTIVITY WARNING: "NetApp's (NTAP) "Hold" Rating Reiterated at Jefferies Group" was published by American Banking News and is the sole property of of American Banking News.

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