NetApp Inc.’s Trend Up, Especially After This Options Activity

 NetApp Inc.'s Trend Up, Especially After This Options Activity

In today’s session NetApp Inc. (NTAP) registered an unusually high (241) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the March, 2017 call, expecting serious NTAP increase. With 241 contracts traded and 874 open interest for the Mar, 17 contract, it seems this is a quite bullish bet. The option with symbol: NTAP170317C00034000 closed last at: $1.98 or 11.6% down. About 3.46 million shares traded hands or 18.49% up from the average. NetApp Inc. (NASDAQ:NTAP) has risen 21.90% since April 4, 2016 and is uptrending. It has outperformed by 20.81% the S&P500.

NetApp Inc. (NASDAQ:NTAP) Ratings Coverage

Out of 33 analysts covering Netapp Inc. (NASDAQ:NTAP), 4 rate it a “Buy”, 10 “Sell”, while 19 “Hold”. This means 12% are positive. $45 is the highest target while $20 is the lowest. The $29.57 average target is -4.89% below today’s ($31.09) stock price. Netapp Inc. has been the topic of 76 analyst reports since August 17, 2015 according to StockzIntelligence Inc. JMP Securities maintained NetApp Inc. (NASDAQ:NTAP) rating on Thursday, May 26. JMP Securities has “Hold” rating and $24 price target. The firm has “Outperform” rating given on Friday, August 21 by RBC Capital Markets. The stock of NetApp Inc. (NASDAQ:NTAP) earned “Hold” rating by Deutsche Bank on Thursday, May 26. The firm earned “Mkt Underperform” rating on Wednesday, December 16 by JMP Securities. The stock of NetApp Inc. (NASDAQ:NTAP) has “Underweight” rating given on Thursday, August 18 by Barclays Capital. Deutsche Bank maintained the stock with “Hold” rating in Saturday, August 22 report. The stock of NetApp Inc. (NASDAQ:NTAP) has “Underweight” rating given on Thursday, May 26 by Barclays Capital. The firm has “Market Perform” rating given on Sunday, August 23 by BMO Capital Markets. As per Monday, October 26, the company rating was downgraded by UBS. UBS maintained NetApp Inc. (NASDAQ:NTAP) rating on Wednesday, January 6. UBS has “Sell” rating and $24.0 price target.

According to Zacks Investment Research, “NetApp Inc., formerly Network Appliance, Inc., is a leading provider of innovative data management solutions that simplify the complexity of storing, managing, protecting, and retaining enterprise data. Market leaders around the world choose NetApp to help them reduce cost, minimize risk, and adapt to change.”

Insitutional Activity: The institutional sentiment decreased to 0.88 in Q2 2016. Its down 0.11, from 0.99 in 2016Q1. The ratio worsened, as 42 funds sold all NetApp Inc. shares owned while 128 reduced positions. 24 funds bought stakes while 125 increased positions. They now own 246.36 million shares or 6.05% less from 262.24 million shares in 2016Q1.
Cypress Capital accumulated 0.08% or 14,364 shares. Blackrock Japan Commerce Limited last reported 599,856 shares in the company. Diam Limited has 79,689 shares for 0.03% of their US portfolio. Dai Ichi Life Ins, a Japan-based fund reported 49,453 shares. Fund Mngmt Sa, a France-based fund reported 22,136 shares. Los Angeles Capital Management And Equity Research holds 974,669 shares or 0.2% of its portfolio. Dreman Value Mngmt L L C last reported 1,876 shares in the company. Valley National Advisers Incorporated holds 0% or 16 shares in its portfolio. Td Asset reported 159,924 shares or 0.01% of all its holdings. The Connecticut-based Bridgewater Associates Lp has invested 0.14% in NetApp Inc. (NASDAQ:NTAP). Moreover, Cornerstone Mgmt Limited Co has 0.01% invested in NetApp Inc. (NASDAQ:NTAP) for 62,653 shares. Royal Fincl Bank Of Canada has invested 0% of its portfolio in NetApp Inc. (NASDAQ:NTAP). Mitsubishi Ufj Tru & Banking accumulated 594,873 shares or 0.03% of the stock. Susquehanna Group Incorporated Llp holds 14,015 shares or 0% of its portfolio. Moreover, Commonwealth Bank Of Australia has 0.02% invested in NetApp Inc. (NASDAQ:NTAP) for 54,306 shares.

Insider Transactions: Since June 3, 2016, the stock had 0 insider buys, and 9 insider sales for $5.67 million net activity. $16,609 worth of NetApp Inc. (NASDAQ:NTAP) was sold by REICH JOEL D. The insider WALL ROBERT T sold 22,944 shares worth $813,413. Shares for $1.05 million were sold by SHAHEEN GEORGE T on Thursday, August 25. 17,808 shares were sold by FAWCETT MATTHEW K, worth $444,840 on Friday, June 3. Another trade for 4,000 shares valued at $140,640 was sold by Kurian George. Shares for $1.40M were sold by ALLEN JEFFRY R.

NetApp, Inc. provides software, systems and services to manage and store customer data. The company has a market cap of $8.66 billion. The Firm enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. It has a 28.23 P/E ratio. The Firm offers a portfolio of services and products that satisfy a range of customer workloads across different data types and deployment models.

NTAP Company Profile

NetApp, Inc. (NetApp), incorporated on November 1, 2001, provides software, systems and services to manage and store customer data. The Firm enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Firm offers a portfolio of services and products that satisfy a range of customer workloads across different data types and deployment models. The Company’s data management and storage offerings help manage business productivity, performance and profitability, while providing investment protection and asset utilization. The Company’s FlexPod portfolio includes FlexPod Datacenter for core enterprise data centers and service providers, FlexPod Express for medium-sized businesses and branch offices, and FlexPod Select for data-intensive workloads. The portfolio is validated with hypervisors, operating systems, systems management tools, and cloud management platforms.

More news for NetApp Inc. (NASDAQ:NTAP) were recently published by: Marketwatch.com, which released: “NetApp to lay off 6% of workforce as cost-cutting continues” on November 04, 2016. Blogs.Wsj.com‘s article titled: “NetApp Hires Former Broadcom CIO” and published on October 25, 2016 is yet another important article.

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