NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its stake in shares of NetApp, Inc. (NASDAQ:NTAPGet Rating) by 13.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 12,317 shares of the data storage provider’s stock after selling 1,965 shares during the period. Janney Montgomery Scott LLC’s holdings in NetApp were worth $762,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NTAP. Private Advisor Group LLC grew its holdings in NetApp by 66.3% during the 1st quarter. Private Advisor Group LLC now owns 7,740 shares of the data storage provider’s stock valued at $643,000 after buying an additional 3,086 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in NetApp by 6.0% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,741 shares of the data storage provider’s stock valued at $2,469,000 after buying an additional 1,672 shares during the last quarter. Sei Investments Co. lifted its stake in shares of NetApp by 0.8% during the 1st quarter. Sei Investments Co. now owns 139,507 shares of the data storage provider’s stock worth $11,563,000 after purchasing an additional 1,086 shares during the period. Aviva PLC lifted its stake in shares of NetApp by 41.0% during the 1st quarter. Aviva PLC now owns 98,770 shares of the data storage provider’s stock worth $8,198,000 after purchasing an additional 28,705 shares during the period. Finally, Prudential PLC purchased a new position in shares of NetApp during the 1st quarter worth $465,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

NTAP has been the topic of several research reports. Cowen cut their target price on NetApp from $93.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 30th. StockNews.com raised NetApp from a “hold” rating to a “buy” rating in a research report on Monday. Wells Fargo & Company cut their target price on NetApp from $85.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 30th. Barclays lowered NetApp from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $83.00 to $71.00 in a research report on Tuesday, January 10th. Finally, Morgan Stanley lowered NetApp from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $66.00 to $58.00 in a research report on Tuesday, December 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $77.95.

NetApp Stock Down 0.7 %

NASDAQ:NTAP opened at $64.51 on Friday. The company has a market capitalization of $13.91 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 1.68 and a beta of 1.18. NetApp, Inc. has a one year low of $58.08 and a one year high of $92.40. The stock has a 50-day simple moving average of $65.45 and a 200 day simple moving average of $67.50. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.28 and a current ratio of 1.36.

NetApp (NASDAQ:NTAPGet Rating) last issued its earnings results on Tuesday, November 29th. The data storage provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. NetApp had a net margin of 22.52% and a return on equity of 115.30%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Sell-side analysts predict that NetApp, Inc. will post 4.37 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Friday, January 6th will be issued a $0.50 dividend. The ex-dividend date is Thursday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 3.10%. NetApp’s dividend payout ratio is currently 30.26%.

Insiders Place Their Bets

In other NetApp news, CEO George Kurian sold 2,250 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $60.40, for a total value of $135,900.00. Following the transaction, the chief executive officer now owns 156,976 shares of the company’s stock, valued at $9,481,350.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Carrie Palin sold 2,707 shares of NetApp stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $64.30, for a total transaction of $174,060.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO George Kurian sold 2,250 shares of NetApp stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $60.40, for a total value of $135,900.00. Following the sale, the chief executive officer now directly owns 156,976 shares in the company, valued at approximately $9,481,350.40. The disclosure for this sale can be found here. Insiders have sold 11,707 shares of company stock valued at $748,890 over the last quarter. Insiders own 0.26% of the company’s stock.

NetApp Profile

(Get Rating)

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, NetApp ElementOS software, and NetApp SANtricity software; and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, and NetApp SolidFire.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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