Anchyra Partners LLC Makes New $873,000 Investment in NetApp, Inc. $NTAP

Anchyra Partners LLC 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. The firm purchased 8,151 shares of the data storage provider’s stock, valued at approximately $873,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in shares of NetApp by 38.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock worth $67,000 after acquiring an additional 210 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of NetApp during the 2nd quarter valued at about $315,000. Cerity Partners LLC raised its holdings in shares of NetApp by 9.9% during the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock valued at $4,986,000 after buying an additional 4,232 shares in the last quarter. Bank of Nova Scotia lifted its position in NetApp by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock worth $2,589,000 after buying an additional 1,662 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in NetApp by 12.7% in the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock worth $2,148,000 after buying an additional 2,277 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of NetApp from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $110.00 in a research note on Thursday, April 16th. Weiss Ratings lowered shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Wall Street Zen downgraded NetApp from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. The Goldman Sachs Group assumed coverage on shares of NetApp in a report on Tuesday, January 13th. They set a “buy” rating and a $128.00 target price for the company. Finally, Citigroup boosted their price objective on shares of NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, NetApp has an average rating of “Hold” and an average target price of $120.75.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $96.25, for a total value of $96,250.00. Following the completion of the transaction, the executive vice president owned 19,382 shares of the company’s stock, 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 can be accessed through this hyperlink. In the last ninety days, insiders sold 3,000 shares of company stock valued at $300,370. 0.28% of the stock is currently owned by company insiders.

NetApp Stock Performance

Shares of NTAP stock opened at $108.71 on Monday. The company has a market capitalization of $21.45 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 3.37 and a beta of 1.30. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39. NetApp, Inc. has a one year low of $86.70 and a one year high of $126.66. The company’s 50-day moving average is $101.66 and its 200 day moving average is $106.79.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm posted $1.91 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Sell-side analysts expect that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. NetApp’s dividend payout ratio (DPR) is 34.78%.

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.