SG Americas Securities LLC Grows Stock Position in NetApp, Inc. $NTAP

SG Americas Securities LLC increased its stake in NetApp, Inc. (NASDAQ:NTAP) by 378.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,329,475 shares of the data storage provider’s stock after buying an additional 1,051,863 shares during the quarter. SG Americas Securities LLC’s holdings in NetApp were worth $136,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rossby Financial LCC increased its position in NetApp by 105.5% during the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 115 shares during the last quarter. Park Square Financial Group LLC raised its stake in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 103 shares during the period. Gen Wealth Partners Inc bought a new stake in shares of NetApp in the 4th quarter worth about $30,000. DV Equities LLC bought a new stake in shares of NetApp in the 4th quarter worth about $30,000. Finally, JFS Wealth Advisors LLC boosted its stake in shares of NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after purchasing an additional 201 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NTAP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Bank of America boosted their target price on NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Susquehanna upped their target price on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Morgan Stanley increased their price target on NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a report on Friday, May 29th. Finally, Argus raised their price target on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, NetApp presently has an average rating of “Hold” and an average price target of $169.33.

NetApp Stock Performance

NASDAQ NTAP opened at $159.71 on Monday. The stock has a market cap of $31.29 billion, a PE ratio of 25.11, a PEG ratio of 2.92 and a beta of 1.44. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83. The company’s 50-day moving average price is $131.77 and its 200-day moving average price is $114.00. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Equities research analysts forecast that NetApp, Inc. will post 7.16 earnings per share for the current year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s payout ratio is currently 32.70%.

Insider Buying and Selling

In related news, CAO Lorenzo Daniel De sold 225 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the sale, the chief accounting officer owned 1,090 shares in the company, valued at approximately $186,488.10. The trade was a 17.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $163.48, for a total value of $163,480.00. Following the completion of the transaction, the executive vice president directly owned 32,297 shares in the company, valued at approximately $5,279,913.56. This trade represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,500 shares of company stock valued at $448,955 in the last quarter. 0.28% of the stock is owned by company insiders.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.