Janney Montgomery Scott LLC Has $12.18 Million Stock Holdings in NetApp, Inc. $NTAP

Janney Montgomery Scott LLC boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 5.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,939 shares of the data storage provider’s stock after acquiring an additional 6,255 shares during the quarter. Janney Montgomery Scott LLC’s holdings in NetApp were worth $12,178,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in shares of NetApp by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock valued at $536,000 after purchasing an additional 101 shares in the last quarter. Park Square Financial Group LLC lifted its position in shares of NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after buying an additional 103 shares during the last quarter. Transcend Capital Advisors LLC lifted its position in shares of NetApp by 5.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock worth $209,000 after buying an additional 107 shares during the last quarter. Fifth Third Bancorp boosted its stake in NetApp by 0.9% in the fourth quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock valued at $1,345,000 after buying an additional 108 shares in the last quarter. Finally, US Bancorp DE boosted its stake in NetApp by 0.7% in the third quarter. US Bancorp DE now owns 15,398 shares of the data storage provider’s stock valued at $1,824,000 after buying an additional 114 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on NTAP shares. Wedbush boosted their target price on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Bank of America raised their price target on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Morgan Stanley lifted their price target on shares of NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a report on Friday, May 29th. Citigroup upped their price objective on shares of NetApp from $114.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Barclays raised their target price on shares of NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NetApp has a consensus rating of “Hold” and a consensus target price of $169.33.

NetApp Stock Performance

Shares of NTAP stock opened at $156.38 on Thursday. The business’s 50-day moving average price is $140.58 and its 200-day moving average price is $116.17. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83. The firm has a market capitalization of $30.64 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 2.83 and a beta of 1.46. 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 released its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the company earned $1.93 EPS. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. 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 EPS for the current year.

NetApp Dividend Announcement

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

Insider Buying and Selling

In other news, President Cesar Cernuda sold 49,464 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the sale, the president owned 46,806 shares of the company’s stock, valued at approximately $7,246,504.92. This represents a 51.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the transaction, the executive vice president owned 18,382 shares of the company’s stock, valued at $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 52,964 shares of company stock valued at $8,106,972 in the last three months. Insiders own 0.28% of the company’s stock.

About NetApp

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.