SG Americas Securities LLC Acquires 267,985 Shares of NetApp, Inc. $NTAP

SG Americas Securities LLC lifted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 1,081.8% during the second quarter, HoldingsChannel reports. The firm owned 292,756 shares of the data storage provider’s stock after purchasing an additional 267,985 shares during the quarter. SG Americas Securities LLC’s holdings in NetApp were worth $31,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in NetApp by 7.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,888 shares of the data storage provider’s stock worth $5,316,000 after acquiring an additional 3,395 shares during the period. ABN Amro Investment Solutions purchased a new stake in shares of NetApp during the 2nd quarter worth approximately $4,621,000. Candriam S.C.A. raised its holdings in shares of NetApp by 6.9% in the 2nd quarter. Candriam S.C.A. now owns 14,026 shares of the data storage provider’s stock worth $1,495,000 after purchasing an additional 901 shares during the period. Impax Asset Management Group plc bought a new stake in shares of NetApp in the 2nd quarter worth approximately $1,054,000. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in NetApp by 3.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 31,023 shares of the data storage provider’s stock valued at $3,306,000 after purchasing an additional 1,101 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of recent research reports. William Blair reaffirmed a “market perform” rating on shares of NetApp in a research report on Thursday, October 16th. Argus restated a “buy” rating and issued a $130.00 price objective on shares of NetApp in a research note on Friday, August 29th. Wedbush reaffirmed a “neutral” rating and set a $110.00 price objective on shares of NetApp in a report on Friday, October 10th. UBS Group lifted their target price on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Finally, Northland Securities boosted their price target on shares of NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, NetApp currently has a consensus rating of “Hold” and an average price target of $122.07.

Insider Buying and Selling

In other news, CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the completion of the sale, the chief executive officer owned 274,938 shares of the company’s stock, valued at $33,792,629.58. The trade was a 3.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,029 shares of company stock worth $2,338,294 in the last 90 days. 0.28% of the stock is owned by company insiders.

NetApp Trading Down 0.1%

Shares of NetApp stock opened at $109.44 on Friday. The company’s 50-day moving average price is $118.69 and its 200-day moving average price is $109.16. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The company has a market cap of $21.85 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.48 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the business posted $1.56 EPS. NetApp’s quarterly revenue was up 1.2% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, equities analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.9%. NetApp’s dividend payout ratio is 36.75%.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.