10,980 Shares in NetApp, Inc. $NTAP Acquired by Forteris Wealth Management Inc.

Forteris Wealth Management Inc. purchased a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,980 shares of the data storage provider’s stock, valued at approximately $1,176,000. NetApp makes up approximately 1.2% of Forteris Wealth Management Inc.’s holdings, making the stock its 26th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in NetApp by 17.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after acquiring an additional 718,409 shares during the last quarter. Boston Partners raised its position in NetApp by 12.6% in the third quarter. Boston Partners now owns 3,317,605 shares of the data storage provider’s stock worth $393,027,000 after purchasing an additional 370,405 shares in the last quarter. Northern Trust Corp raised its position in NetApp by 1.0% in the third quarter. Northern Trust Corp now owns 2,903,077 shares of the data storage provider’s stock worth $343,899,000 after purchasing an additional 29,871 shares in the last quarter. Dimensional Fund Advisors LP raised its position in NetApp by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,091,817 shares of the data storage provider’s stock worth $247,795,000 after purchasing an additional 13,195 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in NetApp by 71.6% during the third quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock worth $219,058,000 after buying an additional 771,835 shares during the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on NTAP shares. JPMorgan Chase & Co. cut shares of NetApp from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $125.00 to $110.00 in a research note on Thursday. Citigroup increased their price target on shares of NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Weiss Ratings cut shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of NetApp in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group initiated coverage on shares of NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, NetApp has an average rating of “Hold” and an average target price of $120.75.

Insider Transactions at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on Friday, April 10th. The shares were sold at an average price of $96.25, for a total value of $96,250.00. Following the sale, the executive vice president directly owned 19,382 shares in the company, valued at approximately $1,865,517.50. The trade was a 4.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 3,000 shares of company stock valued at $300,370. 0.28% of the stock is currently owned by insiders.

NetApp Trading Up 3.3%

NTAP opened at $103.68 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. NetApp, Inc. has a 12 month low of $80.64 and a 12 month high of $126.66. The firm’s fifty day simple moving average is $101.02 and its 200 day simple moving average is $107.42. The stock has a market capitalization of $20.46 billion, a P/E ratio of 17.34, a P/E/G ratio of 3.11 and a beta of 1.30.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the business earned $1.91 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, April 2nd. NetApp’s payout ratio is presently 34.78%.

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.