Would It Be A Good Move Today To Sell NetApp Inc. (NTAP) Stock?

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As of Friday close, NetApp Inc.’s (NASDAQ:NTAP) stock was down -$0.51, moving down -0.82 percent to $61.47. The average number of shares traded per day over the past five days has been 3,399,460 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.75 fall in that time frame. In the last twenty days, the average volume was 2,220,100, while in the previous 50 days, it was 1,909,994.

Since last month, NTAP stock retreated -10.54%. Shares of the company fell to $59.73 on 03/15/23, the lowest level in the past month. A 52-week high of $90.20 was reached on 02/02/23 after having rallying from a 52-week low of $58.08. Since the beginning of this year, NTAP’s stock price has risen by 2.35% or $1.41, and marked a new high 8 times. However, the stock has declined by -31.85% since its 52-week high.

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NTAP stock investors should be aware that NetApp Inc. (NTAP) stock had its last reported insider trading activity 3 days ago on Mar 15. CERNUDA CESAR, the President of the company, disposed of 18,000 shares for $60.09 on Mar 15. It resulted in a $1,081,593 divestment by the insider. Kurian George sold 4,500 shares at an average price of $65.04 on Mar 07. The insider now owns 147,170 shares following the transaction. On Feb 07, Chief Executive Officer Kurian George sold 4,500 shares at $65.87 apiece. The transaction was valued at $296,402.

Valuation Metrics

Right now, NetApp Inc. (NTAP) has a P/E ratio of about 10.61. The stock’s beta is 1.18. Besides these, the trailing price-to-sales (P/S) ratio of 2.07, the price-to-book (PB) ratio of 12.05, and the price-to-cash flow ratio of 23.18 may also be considered.

The latest dividend of $0.50 per share was paid out, remained unchanged from last year’s $0.50. On Wednesday June 2 2021, a $0.02 dividend increase was announced.

Financial Health

In the three months ended October 30, NetApp Inc.’s quick ratio stood at 1.30, while its current ratio was 1.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending October 30 was 2.17, and the total debt-to-equity ratio was 2.17. On the profitability front, the trailing twelve-month gross margin is 65.40% percent. In the year ended October 30, operating margins totaled 15.50%. Based on annual data, NTAP earned $4.22 billion in gross profit and brought in $6.32 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 28.80%. Return on equity (ROE) for the past 12 months was 135.60%.

In NetApp Inc.’s quarter-end financial report for October 30, it reported total debt of $2.39 billion against cash and short-term investments of $501.0 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. NTAP’s revenue rose 47.84% to $1.66 billion during the quarter, while net income inched up to $1.53 billion. While analysts expected NetApp Inc. to report $1.33 quarterly earnings, the actual figure was $1.48 per share, beating the consensus estimate by 11.30%. During the quarter, the company generated $237.0 million in EBITDA. The liabilities of NetApp Inc. were 8.61 billion at the end of its most recent quarter ended October 30, and its total debt was $2.7 billion. The value of shareholders’ equity is $213.91 million.

Technical Picture

This quick technical analysis looks at NetApp Inc.’s (NTAP) price momentum. With a historical volatility rate of 23.37%, the RSI 9-day stood at 32.92% on 17 March.

With respect to its five-day moving average, the current NetApp Inc. price is down by -1.21% percent or -$0.75. At present, NTAP shares trade -9.54% below its 20-day simple moving average and -6.30% percent below its 100-day simple moving average. However, the stock is currently trading approximately -0.74% below its SMA50 and -14.57% below its SMA200.

Stochastic coefficient K was 26.52% and Stochastic coefficient D was 18.44%, while ATR was 1.49. Given the Stochastic reading of 26.13% for the 14-day period, the RSI (14) reading has been calculated as 36.09%. As of today, the MACD Oscillator reading stands at -0.87, while the 14-day reading stands at -1.84.

Analyst Ratings

NetApp Inc. downgraded its rating on NetApp Inc. (NASDAQ: NTAP) to a Neutral in a note to investors on February 23, 2023. The analysts firm previously had an Outperform rating on the stock.NetApp Inc. (NTAP) has been rated Hold by analysts. According to 1 brokerage firm, NTAP is a sell, and 14 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate NetApp Inc. stock as buy, with 5 recommending it as overweight.

With a median target price of $70.00, the current consensus forecast for the stock is $58.00 – $86.00. Based on these forecasts, analysts predict NetApp Inc. (NTAP) will achieve an average price target of $71.33.

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