NetApp, Inc. (NTAP)’s Stock Is Buy After Making 52-Week High

April 17, 2018 - By Winifred Garcia

NetApp, Inc. (NASDAQ:NTAP) Logo

Investors sentiment decreased to 1.14 in 2017 Q4. Its down 0.04, from 1.18 in 2017Q3. It dropped, as 25 investors sold NetApp, Inc. shares while 162 reduced holdings. 93 funds opened positions while 120 raised stakes. 243.70 million shares or 0.52% less from 244.98 million shares in 2017Q3 were reported.
Gam Holdings Ag reported 0.08% of its portfolio in NetApp, Inc. (NASDAQ:NTAP). Sumitomo Mitsui Tru Hldg holds 781,520 shares or 0.06% of its portfolio. Bailard holds 0.29% or 84,201 shares. Moneta Invest Advisors Ltd Liability Com invested 0% in NetApp, Inc. (NASDAQ:NTAP). Adirondack Trust reported 100 shares. Amica Mutual Insur invested 0.07% of its portfolio in NetApp, Inc. (NASDAQ:NTAP). Virtu Financial Llc reported 24,331 shares. Voya Mgmt Limited Co invested in 0.19% or 1.69M shares. First Advsr Limited Partnership has invested 0.18% of its portfolio in NetApp, Inc. (NASDAQ:NTAP). Dodge And Cox reported 0.51% of its portfolio in NetApp, Inc. (NASDAQ:NTAP). Nelson Roberts Inv Advsrs Limited Liability Com holds 0.03% of its portfolio in NetApp, Inc. (NASDAQ:NTAP) for 1,804 shares. Prudential Plc reported 4,011 shares. Advsrs Asset Mngmt invested 0.02% of its portfolio in NetApp, Inc. (NASDAQ:NTAP). Advantus Capital Management stated it has 27,663 shares or 0.04% of all its holdings. Janney Montgomery Scott Limited Liability Corp holds 0% or 7,144 shares.

Since January 2, 2018, it had 0 insider purchases, and 9 sales for $4.41 million activity. Another trade for 4,900 shares valued at $323,409 was made by RICHARD HENRI P on Tuesday, April 10. $1.11M worth of NetApp, Inc. (NASDAQ:NTAP) was sold by NEVENS THOMAS MICHAEL. REICH JOEL D also sold $362,686 worth of NetApp, Inc. (NASDAQ:NTAP) shares.

The stock of NetApp, Inc. (NASDAQ:NTAP) hit a new 52-week high and has $74.30 target or 7.00 % above today’s $69.44 share price. The 9 months bullish chart indicates low risk for the $18.61 billion company. The 1-year high was reported on Apr, 17 by Barchart.com. If the $74.30 price target is reached, the company will be worth $1.30B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.71% or $1.17 during the last trading session, reaching $69.44. About 760,676 shares traded. NetApp, Inc. (NASDAQ:NTAP) has risen 49.61% since April 17, 2017 and is uptrending. It has outperformed by 38.06% the S&P500.

Analysts await NetApp, Inc. (NASDAQ:NTAP) to report earnings on May, 23. They expect $0.86 EPS, up 19.44 % or $0.14 from last year’s $0.72 per share. NTAP’s profit will be $230.42 million for 20.19 P/E if the $0.86 EPS becomes a reality. After $0.85 actual EPS reported by NetApp, Inc. for the previous quarter, Wall Street now forecasts 1.18 % EPS growth.

NetApp, Inc. (NASDAQ:NTAP) Ratings Coverage

Among 24 analysts covering NetApp (NASDAQ:NTAP), 15 have Buy rating, 1 Sell and 8 Hold. Therefore 63% are positive. NetApp had 45 analyst reports since October 27, 2017 according to SRatingsIntel. The stock has “Hold” rating by RBC Capital Markets on Sunday, December 10. Piper Jaffray maintained NetApp, Inc. (NASDAQ:NTAP) on Tuesday, November 14 with “Buy” rating. Wells Fargo maintained it with “Hold” rating and $62.0 target in Thursday, February 15 report. The rating was upgraded by Bank of America on Tuesday, February 13 to “Buy”. DA Davidson downgraded the shares of NTAP in report on Tuesday, January 23 to “Neutral” rating. The rating was maintained by FBN Securities with “Buy” on Thursday, November 16. UBS maintained it with “Buy” rating and $7300 target in Friday, April 6 report. The company was maintained on Thursday, November 16 by Raymond James. The stock of NetApp, Inc. (NASDAQ:NTAP) has “Buy” rating given on Friday, November 17 by Argus Research. The stock of NetApp, Inc. (NASDAQ:NTAP) has “Hold” rating given on Wednesday, November 15 by BMO Capital Markets.

NetApp, Inc. provides software, systems, and services to manage and store computer data worldwide. The company has market cap of $18.61 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 currently has negative earnings. 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.

NetApp, Inc. (NASDAQ:NTAP) Institutional Positions Chart

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