Forteris Wealth Management Inc. Invests $1.18 Million in NetApp, Inc. $NTAP

Key Points

• Forteris Wealth Management bought a new stake of 10,980 NetApp shares valued at approximately $1.18 million, representing about 1.2% of its portfolio and the firm's 26th-largest holding.
• NetApp beat quarterly estimates with $2.12 EPS vs. $2.07 consensus and $1.71B revenue (+4.4% YoY), issued Q4 and FY2026 EPS guidance (Q4: 2.210–2.310; FY: 7.920–8.020), and declared a $0.52 quarterly dividend (~2.0% yield).
• Institutional investors own roughly 92.17% of NTAP, analysts' consensus rating is "Hold" with a $120.75 price target, and insiders have sold modestly (insiders own 0.28%; EVP sold 1,000 shares recently).

Forteris Wealth Management Inc. bought a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,980 shares of the data storage provider's stock, valued at approximately $1,176,000. NetApp accounts for about 1.2% of Forteris Wealth Management Inc.'s investment portfolio, making the stock its 26th biggest position.

Other large investors have also recently made changes to their positions in the company. Rossby Financial LCC boosted its position in shares of NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 115 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in NetApp during the 3rd quarter valued at approximately $27,000. Measured Wealth Private Client Group LLC purchased a new stake in NetApp during the 3rd quarter valued at approximately $35,000. JFS Wealth Advisors LLC raised its stake in NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock valued at $34,000 after acquiring an additional 201 shares during the last quarter. Finally, Covestor Ltd raised its stake in NetApp by 48.0% during the 3rd quarter. Covestor Ltd now owns 478 shares of the data storage provider's stock valued at $57,000 after acquiring an additional 155 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Performance

Shares of NTAP stock opened at $103.68 on Friday. The company has a market cap of $20.46 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 3.11 and a beta of 1.30. The stock has a 50 day simple moving average of $101.02 and a 200-day simple moving average of $107.42. NetApp, Inc. has a 12-month low of $80.64 and a 12-month high of $126.66. 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 (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the business posted $1.91 EPS. NetApp's quarterly 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. On average, equities analysts forecast that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, April 2nd. This represents a $2.08 annualized dividend and a dividend yield of 2.0%. NetApp's dividend payout ratio (DPR) is 34.78%.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $96.25, for a total value of $96,250.00. Following the transaction, the executive vice president directly owned 19,382 shares of the company's stock, valued at approximately $1,865,517.50. This trade represents a 4.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 3,000 shares of company stock valued at $300,370. Company insiders own 0.28% of the company's stock.

Wall Street Analyst Weigh In

NTAP has been the subject of several analyst reports. Wall Street Zen raised NetApp from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. JPMorgan Chase & Co. downgraded NetApp from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $125.00 to $110.00 in a research note on Thursday. The Goldman Sachs Group initiated coverage on NetApp in a research note on Tuesday, January 13th. They set a "buy" rating and a $128.00 price objective for the company. Citigroup upped their price objective on NetApp from $110.00 to $114.00 and gave the company a "neutral" rating in a research note on Monday, March 2nd. Finally, Weiss Ratings downgraded NetApp from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $120.75.

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.

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