Could NetApp Inc. Decline After Today’s Tip From Option Traders?

 Could NetApp Inc. Decline After Today's Tip From Option Traders?

In today’s session NetApp Inc. (NTAP) registered an unusually high (162) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious NTAP increase. With 162 contracts traded and 124 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: NTAP161216C00036500 closed last at: $0.86 or 19.6% down. About 453,655 shares traded hands. NetApp Inc. (NASDAQ:NTAP) has risen 49.96% since April 22, 2016 and is uptrending. It has outperformed by 44.55% the S&P500.

Analysts await NetApp Inc. (NASDAQ:NTAP) to report earnings on February, 15. They expect $0.46 EPS, down 11.54% or $0.06 from last year’s $0.52 per share. NTAP’s profit will be $126.92 million for 19.72 P/E if the $0.46 EPS becomes a reality. After $0.42 actual EPS reported by NetApp Inc. for the previous quarter, Wall Street now forecasts 9.52% EPS growth.

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. Netapp Inc. has been the topic of 80 analyst reports since August 17, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained NetApp Inc. (NASDAQ:NTAP) on Thursday, November 17 with “Sector Perform” rating. Citigroup maintained the shares of NTAP in a report on Thursday, August 18 with “Neutral” rating. Monness Crespi & Hardt maintained NetApp Inc. (NASDAQ:NTAP) rating on Tuesday, December 29. Monness Crespi & Hardt has “Sell” rating and $23.0 price target. The firm earned “Underweight” rating on Thursday, May 26 by Barclays Capital. As per Thursday, August 18, the company rating was maintained by Goldman Sachs. The firm earned “Hold” rating on Monday, August 24 by Deutsche Bank. The firm earned “Market Perform” rating on Friday, December 11 by BMO Capital Markets. On Thursday, August 18 the stock rating was maintained by Morgan Stanley with “Underweight”. JMP Securities maintained NetApp Inc. (NASDAQ:NTAP) on Thursday, May 26 with “Hold” rating. As per Thursday, August 18, the company rating was maintained by Barclays Capital.

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 increased to 1.01 in 2016 Q2. Its up 0.13, from 0.88 in 2016Q1. The ratio is positive, 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.
Capital Fund Mgmt reported 22,136 shares or 0.01% of all its holdings. Johnson Fincl Gru Incorporated accumulated 0% or 363 shares. Texas Permanent School Fund last reported 0.03% of its portfolio in the stock. Hsbc Holding Public Ltd Com, a United Kingdom-based fund reported 303,836 shares. Pillar Pacific Cap Mgmt Limited accumulated 10,890 shares or 0.05% of the stock. The Georgia-based Vident Invest Advisory Llc has invested 0.3% in NetApp Inc. (NASDAQ:NTAP). Marco Inv Management Ltd Liability holds 0.15% of its portfolio in NetApp Inc. (NASDAQ:NTAP) for 33,700 shares. Exxonmobil Invest Management Tx last reported 74,829 shares in the company. Blackrock Investment Llc last reported 628,858 shares in the company. Barclays Public Ltd has 0.01% invested in the company for 200,344 shares. Blackrock Incorporated has 1.40M shares for 0.05% of their US portfolio. Regions Financial has 10,953 shares for 0% of their US portfolio. Ameritas Invest Prtnrs has 10,787 shares for 0.02% of their US portfolio. Verition Fund Mngmt Limited Co owns 9,028 shares or 0.03% of their US portfolio. Daiwa Secs Gp reported 25,970 shares or 0% of all its holdings.

Insider Transactions: Since June 3, 2016, the stock had 0 insider buys, and 10 sales for $5.72 million net activity. $140,640 worth of NetApp Inc. (NASDAQ:NTAP) shares were sold by Kurian George. 489 shares with value of $16,609 were sold by REICH JOEL D on Friday, August 19. On Friday, June 3 FAWCETT MATTHEW K sold $444,840 worth of the stock or 17,808 shares. On Thursday, August 25 SHAHEEN GEORGE T sold $1.05M worth of the stock or 30,000 shares. 22,944 shares with value of $813,413 were sold by WALL ROBERT T on Tuesday, September 27. Shares for $1.40 million were sold by ALLEN JEFFRY R on Monday, August 22.

NetApp, Inc. provides software, systems and services to manage and store customer data. The company has a market cap of $10.01 billion. The Firm enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. It has a 32.99 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 important recent NetApp Inc. (NASDAQ:NTAP) news were published by: Profitconfidential.com which released: “NetApp Inc.: This Is Why NTAP Stock Is Surging” on November 17, 2016, also Marketwatch.com published article titled: “NetApp to lay off 6% of workforce as cost-cutting continues”, Nasdaq.com published: “Earnings Reaction History: NetApp Inc, 44.4% Follow-Through Indicator, 5.3 …” on November 16, 2016. More interesting news about NetApp Inc. (NASDAQ:NTAP) was released by: Marketwatch.com and their article: “NetApp shares up 7% after earnings beat” with publication date: November 16, 2016.

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