Netapp Inc (NASDAQ: NTAP) is 19.35% higher on its value in year-to-date trading and has touched a low of $60.28 and a high of $112.48 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 $104.72 in the last trading session, with the day’s gains setting it 0.5%.
Currently trading at $105.22, the stock is 3.02% and 12.69% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.96 million and changing 0.48% at the moment leaves the stock 27.62% off its SMA200. NTAP registered 70.65% gain for a year compared to 6-month gain of 40.57%. The firm has a 50-day simple moving average (SMA 50) of $3.47 and a 200-day simple moving average (SMA200) of $14.13.
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The stock witnessed a 20.71% loss in the last 1 month and extending the period to 3 months gives it a 17.72%, and is 0.75% 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 1.16% over the week and 2.15% over the month.
Netapp Inc (NTAP) has around 12000 employees, a market worth around $21.72B and $6.17B in sales. Current P/E ratio is 23.88 and Fwd P/E is 15.67. Profit margin for the company is 15.23%. Distance from 52-week low is 74.55% and -6.45% from its 52-week high. The company has generated returns on investments over the last 12 months (29.28%).
Netapp Inc quarterly earnings per share for the current quarter are estimated at $1.78 with sales reaching $1.65B over the same period.The EPS is expected to grow by 15.66% this year, but quarterly earnings will post -1.70% year-over-year. Quarterly sales are estimated to grow 4.50% in year-over-year returns.
1,114 institutions hold shares in Netapp Inc (NTAP), with institutional investors hold 94.71% of the company’s shares. The shares outstanding are 212.00M, and float is at 205.69M with Short Float at 3.49%. Institutions hold 94.40% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 27.64 million shares valued at $2.11 billion. The investor’s holdings represent 13.24% of the NTAP Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 18.24 million shares valued at $1.39 billion to account for 8.74% of the shares outstanding. The other top investors are Primecap Management Company which holds 15.48 million shares representing 7.41% and valued at over $1.18 billion, while Capital International Investors holds 6.56% of the shares totaling 13.69 million with a market value of $1.05 billion.
Netapp Inc (NTAP) Insider Activity
The most recent transaction is an insider sale by Kurian George, the company’s CEO. SEC filings show that Kurian George sold 8,500 shares of the company’s common stock on Mar 19 ’24 at a price of $101.44 per share for a total of $0.86 million. Following the sale, the insider now owns 0.26 million shares.
Netapp Inc disclosed in a document filed with the SEC on Mar 13 ’24 that BERRY MICHAEL J (EVP, CFO) sold a total of 7,500 shares of the company’s common stock. The trade occurred on Mar 13 ’24 and was made at $102.00 per share for $0.77 million. Following the transaction, the insider now directly holds 0.14 million shares of the NTAP stock.
Still, SEC filings show that on Mar 12 ’24, BERRY MICHAEL J (EVP, CFO) disposed off 7,500 shares at an average price of $102.75 for $0.77 million. The insider now directly holds 152,409 shares of Netapp Inc (NTAP).
