Can NetApp Inc.’s Tomorrow Be Different? Option Trader Are Very Bearish

 Can NetApp Inc.'s Tomorrow Be Different? Option Trader Are Very Bearish

In today’s session NetApp Inc. (NTAP) recorded an unusually high (3,584) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious NTAP decrease. With 3,584 contracts traded and 704 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: NTAP161118P00033500 closed last at: $1.53 or 1.9% down. About 266,538 shares traded hands. NetApp Inc. (NASDAQ:NTAP) has risen 29.58% since April 12, 2016 and is uptrending. It has outperformed by 24.60% 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 -14.71% below today’s ($34.67) stock price. Netapp Inc. has been the topic of 76 analyst reports since August 17, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, August 18 by Goldman Sachs. The company was maintained on Tuesday, October 27 by Maxim Group. Cross Research upgraded the stock to “Buy” rating in Monday, September 26 report. The company was upgraded on Thursday, August 11 by OTR Global. Deutsche Bank downgraded it to “Sell” rating and $25 target price in Monday, September 26 report. The stock of NetApp Inc. (NASDAQ:NTAP) earned “Neutral” rating by Robert W. Baird on Wednesday, September 28. The stock has “Hold” rating given by JMP Securities on Thursday, May 26. On Thursday, August 18 the stock rating was maintained by Morgan Stanley with “Underweight”. The rating was upgraded by Monness Crespi to “Neutral” on Thursday, February 18. The rating was maintained by RBC Capital Markets on Friday, August 21 with “Outperform”.

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 2016 Q2. 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.
Renaissance Limited Liability Corp holds 977,232 shares or 0.05% of its portfolio. Fifth Third Fincl Bank has invested 0% of its portfolio in NetApp Inc. (NASDAQ:NTAP). The New York-based Amalgamated Bancorporation has invested 0.02% in NetApp Inc. (NASDAQ:NTAP). The Florida-based Lyons Wealth has invested 2.2% in NetApp Inc. (NASDAQ:NTAP). British Columbia Investment Mngmt has invested 0.02% of its portfolio in NetApp Inc. (NASDAQ:NTAP). The United Kingdom-based Old Mutual (Uk) has invested 0.04% in NetApp Inc. (NASDAQ:NTAP). Shelton Capital Mgmt accumulated 18,769 shares or 0.04% of the stock. Raymond James & has 31,674 shares for 0% of their US portfolio. The Illinois-based Envestnet Asset Mgmt Inc has invested 0% in NetApp Inc. (NASDAQ:NTAP). Tarbox Group Inc last reported 174 shares in the company. Petrus Tru Lta has invested 1.81% of its portfolio in NetApp Inc. (NASDAQ:NTAP). The Massachusetts-based Adage Prns Ltd Liability has invested 0.02% in NetApp Inc. (NASDAQ:NTAP). Aviva Public Ltd Company has 0.03% invested in the company for 178,652 shares. Herndon Cap Mgmt Limited Co last reported 27 shares in the company. Capital Intll Ca accumulated 0.27% or 151,800 shares.

Insider Transactions: Since June 3, 2016, the stock had 0 buys, and 9 selling transactions for $5.67 million net activity. $16,609 worth of NetApp Inc. (NASDAQ:NTAP) was sold by REICH JOEL D. FAWCETT MATTHEW K had sold 17,808 shares worth $444,840 on Friday, June 3. 30,000 shares with value of $1.05M were sold by SHAHEEN GEORGE T on Thursday, August 25. Another trade for 40,000 shares valued at $1.40M was sold by ALLEN JEFFRY R. Another trade for 48,176 shares valued at $1.68 million was made by Kurian George on Friday, August 26. 22,944 shares were sold by WALL ROBERT T, worth $813,413.

NetApp, Inc. provides software, systems and services to manage and store customer data. The company has a market cap of $9.78 billion. The Firm enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. It has a 31.48 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 recent NetApp Inc. (NASDAQ:NTAP) news were published by: Marketwatch.com which released: “NetApp to lay off 6% of workforce as cost-cutting continues” on November 04, 2016. Also Nasdaq.com published the news titled: “NetApp (NTAP) to Post Q2 Earnings: What’s in the Cards?” on November 11, 2016. Blogs.Wsj.com‘s news article titled: “NetApp Hires Former Broadcom CIO” with publication date: October 25, 2016 was also an interesting one.

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