NetApp Inc. (NASDAQ: NTAP) is 16.05% higher on its value in year-to-date trading and has touched a low of $39.81 and a high of $78.77 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NTAP stock was last observed hovering at around $76.60 in the last trading session, with the day’s gains setting it 0.27% off its average median price target of $78.00 for the next 12 months. It is also 23.13% off the consensus price target high of $100.00 offered by 26 analysts, but current levels are -53.74% lower than the price target low of $50.00 for the same period.
Currently trading at $76.87, the stock is 2.08% and 8.55% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.22 million and changing 0.35% at the moment leaves the stock 35.33% off its SMA200. NTAP registered 71.28% gain for a year compared to 6-month gain of 74.51%. The firm has a 50-day simple moving average (SMA 50) of $73.19 and a 200-day simple moving average (SMA200) of $62.82.
The stock witnessed a 6.44% loss in the last 1 month and extending the period to 3 months gives it a 14.05%, and is 1.81% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.71% over the week and 2.09% over the month.
NetApp Inc. (NTAP) has around 10800 employees, a market worth around $16.79B and $5.59B in sales. Current P/E ratio is 29.17 and Fwd P/E is 17.05. Distance from 52-week low is 93.09% and -2.41% from its 52-week high. The company has generated returns on investments over the last 12 months (42.40%).
NetApp Inc. (NTAP) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for NetApp Inc. (NTAP) is a “Overweight”. 26 analysts offering their recommendations for the stock have an average rating of 2.50, where 12 rate it as a Hold and 1 think it is a “Overweight”. 11 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
NetApp Inc. is expected to release its quarterly report on 06/02/2021 and quarterly earnings per share for the current quarter are estimated at $1.12 with sales reaching $1.5B over the same period.The EPS is expected to shrink by -22.10% this year, but quarterly earnings will post 5.10% year-over-year. Quarterly sales are estimated to grow 6.90% in year-over-year returns.
NetApp Inc. (NTAP) Top Institutional Holders
885 institutions hold shares in NetApp Inc. (NTAP), with 727.9k shares held by insiders accounting for 0.33% while institutional investors hold 105.75% of the company’s shares. The shares outstanding are 223.00M, and float is at 222.29M with Short Float at 4.38%. Institutions hold 105.40% of the Float.
The top institutional shareholder in the company is Primecap Management Company with over 28.0 million shares valued at $1.85 billion. The investor’s holdings represent 12.58% of the NTAP Shares outstanding. As of Dec 30, 2020, the second largest holder is Capital International Investors with 26.97 million shares valued at $1.79 billion to account for 12.11% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 24.8 million shares representing 11.14% and valued at over $1.64 billion, while Blackrock Inc. holds 7.65% of the shares totaling 17.04 million with a market value of $1.13 billion.
NetApp Inc. (NTAP) Insider Activity
A total of 11 insider transactions have happened at NetApp Inc. (NTAP) in the last six months, with sales accounting for 5 and purchases happening 6 times. The most recent transaction is an insider sale by Kurian George, the company’s CEO. SEC filings show that Kurian George sold 160,800 shares of the company’s common stock on Mar 10 at a price of $66.85 per share for a total of $10.75 million. Following the sale, the insider now owns 0.12 million shares.
NetApp Inc. disclosed in a document filed with the SEC on Mar 05 that Anderson Brad (EVP, SSSBU and CIBU) bought a total of 8,100 shares of the company’s common stock. The trade occurred on Mar 05 and was made at $61.79 per share for $0.5 million. Following the transaction, the insider now directly holds 47563.0 shares of the NTAP stock.
Still, SEC filings show that on Dec 17, BERRY MICHAEL J (EVP Finance & Operations, CFO) acquired 15,000 shares at an average price of $63.89 for $0.96 million. The insider now directly holds 37,568 shares of NetApp Inc. (NTAP).
NetApp Inc. (NTAP): Who are the competitors?
The company’s main competitors (and peers) include Teradata Corporation (TDC) that is trading 99.13% up over the past 12 months. Super Micro Computer Inc. (SMCI) is 62.33% up on the 1-year trading charts. Short interest in the company’s stock has fallen -10.95% from the last report on Apr 14, 2021 to stand at a total of 9.73 million short shares sold with a short interest ratio of 5.68.