NetApp, Inc. $NTAP Shares Sold by Genus Capital Management Inc.

Genus Capital Management Inc. trimmed its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 70.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,790 shares of the data storage provider’s stock after selling 27,635 shares during the quarter. Genus Capital Management Inc.’s holdings in NetApp were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Caliber Wealth Management LLC KS raised its position in shares of NetApp by 5.0% during the 3rd quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider’s stock worth $249,000 after purchasing an additional 100 shares during the period. Park Square Financial Group LLC raised 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 purchasing an additional 103 shares during the period. Frank Rimerman Advisors LLC raised its position in shares of NetApp by 2.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider’s stock worth $655,000 after purchasing an additional 106 shares during the period. Transcend Capital Advisors LLC raised 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 purchasing an additional 107 shares during the period. Finally, Fifth Third Bancorp grew its holdings in NetApp by 0.9% in the 4th quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock worth $1,345,000 after buying an additional 108 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $139.36 on Tuesday. The stock has a fifty day moving average price of $108.57 and a two-hundred day moving average price of $106.91. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39. The firm has a market cap of $27.50 billion, a P/E ratio of 23.30, a PEG ratio of 2.54 and a beta of 1.28. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $141.75.

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 analysts’ consensus estimates of $2.07 by $0.05. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Research analysts forecast that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, April 2nd. NetApp’s dividend payout ratio (DPR) is presently 34.78%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NTAP shares. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. Bank of America increased their price objective on NetApp from $118.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Wedbush reissued a “neutral” rating and issued a $115.00 price objective on shares of NetApp in a report on Wednesday, February 25th. Weiss Ratings lowered NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Finally, JPMorgan Chase & Co. lowered 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 report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, NetApp has an average rating of “Hold” and a consensus target price of $122.27.

Insiders Place Their Bets

In other NetApp news, CAO Lorenzo Daniel De sold 275 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the transaction, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at approximately $130,800. This trade represents a 20.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the transaction, the executive vice president directly owned 18,382 shares of the company’s stock, valued at approximately $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,275 shares of company stock valued at $347,650. 0.28% of the stock is currently owned by corporate insiders.

NetApp 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.