Genus Capital Management Inc. Decreases Position in NetApp, Inc. $NTAP

Key Points

• Genus Capital Management cut its NetApp stake by 70.1% in the fourth quarter, selling 27,635 shares and leaving it with 11,790 shares valued at about $1.26 million.
• NetApp recently reported stronger-than-expected quarterly results, posting $2.12 EPS on $1.71 billion in revenue and raising guidance for fiscal 2026.
• Despite the earnings beat, Wall Street’s view is mixed: several firms downgraded the stock, and the consensus rating remains Hold with an average target price of $122.27.

Genus Capital Management Inc. decreased its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 70.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,790 shares of the data storage provider's stock after selling 27,635 shares during the period. Genus Capital Management Inc.'s holdings in NetApp were worth $1,263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rossby Financial LCC boosted its position in shares of NetApp by 105.5% in the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock worth $27,000 after buying an additional 115 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in shares of NetApp in the third quarter worth about $27,000. Park Square Financial Group LLC boosted its position in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after buying an additional 103 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in shares of NetApp in the third quarter worth about $35,000. Finally, JFS Wealth Advisors LLC boosted its position in shares of NetApp by 176.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock worth $34,000 after buying an additional 201 shares during the period. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $139.36 on Tuesday. The stock's 50 day moving average price is $108.57 and its two-hundred day moving average price is $106.91. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $141.75. The stock has a market capitalization of $27.50 billion, a P/E ratio of 23.30, a PEG ratio of 2.54 and a beta of 1.28. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data 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 return on equity of 118.11% and a net margin of 18.07%.The firm had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter in the prior year, the firm posted $1.91 earnings per share. NetApp's revenue for the quarter 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. On average, analysts anticipate that NetApp, Inc. will post 6.48 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Thursday, April 2nd. This represents a $2.08 annualized dividend and a yield of 1.5%. NetApp's dividend payout ratio is presently 34.78%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NTAP. Citigroup downgraded NetApp from a "neutral" rating to a "mixed" rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. downgraded NetApp from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $125.00 to $110.00 in a research report on Thursday, April 16th. Bank of America increased their price target on NetApp from $118.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, May 20th. Wall Street Zen downgraded NetApp from a "buy" rating to a "hold" rating in a report on Sunday, April 19th. Finally, Wedbush reissued a "neutral" rating and issued a $115.00 price target on shares of NetApp in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $122.27.

Insider Activity at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 275 shares of the company's stock in a transaction that occurred 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 sale, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. This represents a 20.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 18,382 shares in the company, valued at $2,164,112.86. The trade was a 5.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,275 shares of company stock worth $347,650 in the last 90 days. 0.28% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp, Inc. (NASDAQ:NTAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.