NetApp (NASDAQ:NTAP) May Have Just Reached An Inflection Point; Barclays Upgrades Shares

February 15, 2018 - By Ellis Scott

  NetApp (NASDAQ:NTAP) May Have Just Reached An Inflection Point; Barclays Upgrades Shares

Investors sentiment is 1.18 in 2017 Q3. Its the same as in 2017Q2. It is without change, as 38 investors sold NetApp, Inc. shares while 129 reduced holdings. only 58 funds opened positions while 139 raised stakes. 244.98 million shares or 0.92% more from 242.73 million shares in 2017Q2 were reported.

Great West Life Assurance Can invested 0.02% in NetApp, Inc. (NASDAQ:NTAP). Legal & General Public Ltd Com reported 0.05% stake. 1,524 were accumulated by Huntington Bancorp. Schwab Charles Investment Mgmt invested 0.04% in NetApp, Inc. (NASDAQ:NTAP). Texas Permanent School Fund invested 0.04% in NetApp, Inc. (NASDAQ:NTAP). Livforsakringsbolaget Skandia Omsesidigt owns 5,291 shares for 0.02% of their portfolio. Schroder Mngmt Gru reported 0.3% in NetApp, Inc. (NASDAQ:NTAP). Cleararc Cap accumulated 6,926 shares or 0.05% of the stock. Lombard Odier Asset (Switzerland) holds 0.22% or 51,203 shares in its portfolio. Vanguard Grp Incorporated holds 27.28M shares or 0.06% of its portfolio. The Sweden-based Nordea Inv Mngmt Ab has invested 0.02% in NetApp, Inc. (NASDAQ:NTAP). Sirios L P owns 2.34M shares or 5.36% of their US portfolio. Putnam Limited Liability Co holds 123,315 shares or 0.01% of its portfolio. Endurance Wealth Management reported 0% in NetApp, Inc. (NASDAQ:NTAP). Meiji Yasuda Asset Co Ltd has 0.06% invested in NetApp, Inc. (NASDAQ:NTAP).

Since August 30, 2017, it had 0 insider purchases, and 9 selling transactions for $4.35 million activity. 1,976 shares were sold by RICHARD HENRI P, worth $83,009 on Tuesday, September 19. Another trade for 6,500 shares valued at $362,686 was made by REICH JOEL D on Wednesday, January 3. 34,000 NetApp, Inc. (NASDAQ:NTAP) shares with value of $1.48 million were sold by WALLACE RICHARD P. Shares for $1.11M were sold by NEVENS THOMAS MICHAEL on Tuesday, January 2.

NetApp (NASDAQ:NTAP) Stock Upgrade

In an analyst note sent to investors on Thursday morning, Barclays boosted the shares of NetApp (NASDAQ:NTAP) to a respectable Buy rating. They currently have a $52.0 target price on the stock. This target price would indicate a possible downside of -5.81 % from the close price of NetApp (NASDAQ:NTAP) shares.

Investors sentiment is 1.18 in 2017 Q3. Its the same as in 2017Q2. It is without change, as 38 investors sold NetApp, Inc. shares while 129 reduced holdings. only 58 funds opened positions while 139 raised stakes. 244.98 million shares or 0.92% more from 242.73 million shares in 2017Q2 were reported.

Great West Life Assurance Can invested 0.02% in NetApp, Inc. (NASDAQ:NTAP). Legal & General Public Ltd Com reported 0.05% stake. 1,524 were accumulated by Huntington Bancorp. Schwab Charles Investment Mgmt invested 0.04% in NetApp, Inc. (NASDAQ:NTAP). Texas Permanent School Fund invested 0.04% in NetApp, Inc. (NASDAQ:NTAP). Livforsakringsbolaget Skandia Omsesidigt owns 5,291 shares for 0.02% of their portfolio. Schroder Mngmt Gru reported 0.3% in NetApp, Inc. (NASDAQ:NTAP). Cleararc Cap accumulated 6,926 shares or 0.05% of the stock. Lombard Odier Asset (Switzerland) holds 0.22% or 51,203 shares in its portfolio. Vanguard Grp Incorporated holds 27.28M shares or 0.06% of its portfolio. The Sweden-based Nordea Inv Mngmt Ab has invested 0.02% in NetApp, Inc. (NASDAQ:NTAP). Sirios L P owns 2.34M shares or 5.36% of their US portfolio. Putnam Limited Liability Co holds 123,315 shares or 0.01% of its portfolio. Endurance Wealth Management reported 0% in NetApp, Inc. (NASDAQ:NTAP). Meiji Yasuda Asset Co Ltd has 0.06% invested in NetApp, Inc. (NASDAQ:NTAP).

Since August 30, 2017, it had 0 insider purchases, and 9 selling transactions for $4.35 million activity. 1,976 shares were sold by RICHARD HENRI P, worth $83,009 on Tuesday, September 19. Another trade for 6,500 shares valued at $362,686 was made by REICH JOEL D on Wednesday, January 3. 34,000 NetApp, Inc. (NASDAQ:NTAP) shares with value of $1.48 million were sold by WALLACE RICHARD P. Shares for $1.11M were sold by NEVENS THOMAS MICHAEL on Tuesday, January 2.

NetApp, Inc. (NASDAQ:NTAP) Ratings Coverage

Among 45 analysts covering Netapp Inc. (NASDAQ:NTAP), 15 have Buy rating, 7 Sell and 23 Hold. Therefore 33% are positive. Netapp Inc. has $71 highest and $20 lowest target. $48.65’s average target is -11.88% below currents $55.21 stock price. Netapp Inc. had 148 analyst reports since August 17, 2015 according to SRatingsIntel. The company was upgraded on Thursday, May 25 by Credit Suisse. Drexel Hamilton maintained the shares of NTAP in report on Wednesday, August 16 with “Buy” rating. The stock of NetApp, Inc. (NASDAQ:NTAP) earned “Hold” rating by Cantor Fitzgerald on Thursday, August 20. BMO Capital Markets maintained it with “Buy” rating and $63.0 target in Wednesday, February 14 report. The firm has “Neutral” rating by UBS given on Friday, May 26. The stock of NetApp, Inc. (NASDAQ:NTAP) has “Buy” rating given on Friday, January 26 by UBS. The rating was upgraded by Morgan Stanley on Tuesday, January 23 to “Equal-Weight”. The stock has “Sector Perform” rating by RBC Capital Markets on Thursday, November 17. As per Wednesday, October 14, the company rating was initiated by Barclays Capital. The stock of NetApp, Inc. (NASDAQ:NTAP) has “Hold” rating given on Wednesday, August 16 by BMO Capital Markets.

The stock decreased 8.95% or $5.43 during the last trading session, reaching $55.21. About 10.73M shares traded or 251.73% up from the average. NetApp, Inc. (NASDAQ:NTAP) has risen 68.93% since February 15, 2017 and is uptrending. It has outperformed by 52.23% the S&P500.

Analysts await NetApp, Inc. (NASDAQ:NTAP) to report earnings on February, 21. They expect $0.74 EPS, up 2.78 % or $0.02 from last year’s $0.72 per share. NTAP’s profit will be $197.43M for 18.65 P/E if the $0.74 EPS becomes a reality. After $0.70 actual EPS reported by NetApp, Inc. for the previous quarter, Wall Street now forecasts 5.71 % EPS growth.

NetApp, Inc. provides software, systems, and services to manage and store computer data worldwide. The company has market cap of $14.73 billion. It offers flash; flash arrays that support data management; hybrid arrays to deploy the speed of flash storage; hybrid cloud; ONTAP cloud storage data management service; NetApp cloud sync hybrid data management Software as a Service; NetApp private storage for cloud; and AltaVault cloud-integrated solutions. It has a 23.75 P/E ratio. The firm also provides ONTAP storage operating system for data protection and security; SANtricity storage operating system, which provides performance, reliability, and data protection for application-driven workloads; SolidFire element operating system; NetApp StorageGRID Webscale software that allows clients to store and manage massive amounts of data on premises and in the cloud; NetApp integrated data protection solutions; OnCommand management software and management integration tools; and FlexArray storage virtualization software.

More notable recent NetApp, Inc. (NASDAQ:NTAP) news were published by: Zacks.com which released: “NetApp (NTAP) Beats on Q3 Earnings, Issues Impressive View” on February 15, 2018, also Nasdaq.com with their article: “Earnings Reaction History: NetApp Inc, 40.0% Follow-Through Indicator, 6.5 …” published on February 14, 2018, Nasdaq.com published: “Will Flash-Based Solutions Aid NetApp’s (NTAP) Q3 Earnings?” on February 12, 2018. More interesting news about NetApp, Inc. (NASDAQ:NTAP) were released by: Globenewswire.com and their article: “NetApp Reports Third Quarter Fiscal Year 2018 Results” published on February 14, 2018 as well as Nasdaq.com‘s news article titled: “NetApp Inc. Earnings Climb In Q3” with publication date: February 14, 2018.

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